Bill · S. 424· Senate(119-S-424)
Retirement Fairness for Charities and Educational Institutions Act of 2025
- Introduced
- 2/5/2025
- Last activity
- 2/5/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Katie Britt
- Cosponsors
- - 12 - 9
- Introduced
- In Committee
What this bill would do
This bill, titled the "Retirement Fairness for Charities and Educational Institutions Act of 2025," aims to amend Federal securities laws. The primary focus is on enhancing 403(b) plans. It seeks to make specific amendments to the Investment Company Act of 1940, the Securities Act of 1933, and the Securities Exchange Act of 1934. These changes involve how certain plans are defined and treated under existing law. The legislation includes provisions regarding employer fiduciary duties and the review of investment alternatives.
Yes· 3 of 6
Does this give people more protection from unfair business practices?+5
The bill increases consumer protection by requiring employers to serve as fiduciaries for the selection of 403(b) investment options.
Would people over 65 be better off under this?+4
The bill enhances the protections and oversight of retirement plans that seniors rely on for future income.
Would retired people be better off under this?+4
The bill strengthens the oversight of investment options within retirement plans, benefiting those planning for retirement.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Enhanced Protections for Plan Participants: Under Section 2(a), the bill requires that if an employer makes a 403(b) plan available, they must agree to serve as a fiduciary regarding the selection of investments that participants can choose. This ensures that employers take on a specific responsibility for the investment options provided.
-
Oversight of Investment Alternatives: Section 2(a) includes a provision that if a plan is a governmental plan, an employer, a fiduciary, or another person acting for the employer must review and approve each investment alternative before it is offered to participants. This creates a layer of review for the options available to workers.
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Retirees+4Good For Seniors+4Good For Middle Class Households+3
- Economy And Finance
- Improves Consumer Protection+5
- Social Issues And Justice
- Improves Social Security+3
- Governance And Ideology
- Improves Government Transparency+2
- 9/29/2026
- 1 Cosponsor added.
- 7/14/2026
- 1 Cosponsor added.
- 10/7/2025
- 2 Cosponsors added.
- 9/3/2025
- 2 Cosponsors added.
- 4/8/2025
- 2 Cosponsors added.
- 4/4/2025
- 1 Cosponsor added.
- 3/13/2025
- 1 Cosponsor added.
- 3/12/2025
- 1 Cosponsor added.
- 3/6/2025
- 3 Cosponsors added.
- 2/18/2025
- 2 Cosponsors added.
- 2/13/2025
- 2 Cosponsors added.
- 2/5/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 3 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Angela AlsobrooksDemocrat · Maryland
Mike CrapoRepublican · Idaho
Bill CassidyRepublican · Louisiana
Christopher CoonsDemocrat · Delaware
Kevin CramerRepublican · North Dakota
Steve DainesRepublican · Montana
Ruben GallegoDemocrat · Arizona
John HickenlooperDemocrat · Colorado
Bill HagertyRepublican · Tennessee
Timothy KaineDemocrat · Virginia
John KennedyRepublican · Louisiana
Roger MarshallRepublican · Kansas
David McCormickRepublican · Pennsylvania
Gary PetersDemocrat · Michigan
Mike RoundsRepublican · South Dakota
Jacky RosenDemocrat · Nevada
Pete RickettsRepublican · Nebraska
Tim ScottRepublican · South Carolina
Thomas TillisRepublican · North Carolina
Chris Van HollenDemocrat · Maryland
Raphael WarnockDemocrat · Georgia