H.R. 1013 proposal would let 403(b) retirement plans invest in collective investment trusts and annuities
Key points
- H.R. 1013 is a proposal
- If passed, 403(b) plans could invest in CITs and annuities
- CITs and qualifying insurance products are exempt from SEC regulation and can often be offered at lower cost
Under H.R. 1013, employees with qualifying 403(b) retirement plans, including teachers, public and nonprofit employees and healthcare workers, could invest in collective investment trusts and insurance products such as annuities. Bloomberg Law's analysis says both are exempt from SEC regulation and can often be offered at lower cost. The bill is still at the proposal stage.
Policy details
- Jurisdiction
- Federal
- Status
- Proposed rule
- Effective date
- —
- Employers covered
- Education, public, nonprofit and healthcare employers offering 403(b) plans
- Official source
- Official source pending
Original report: Bloomberg Law News ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.