Retirement Fairness for Charities and Educational Institutions Act of 2025
Stopped
On the House floor schedule this week
- Sponsor
- Rep. Frank D. Lucas (R-OK-3)
- Introduced
- Feb 5, 2025 · House
- Cosponsors
- 24 (D 19 · R 5)
- Policy area
- Finance and Financial Sector
Where it stands
- Introduced · Feb 5, 2025 (done)
- In committee · Feb 5, 2025 (done)
- Reported by committee · May 20, 2025 (done)
- Passed the House · Nov 10, 2026 (done)
- Passed the Senate (not yet)
- Sent to the president (not yet)
- Became law (not yet)
Stopped: Motion to reconsider laid on the table Agreed to without objection.
Summary (Congressional Research Service)
Retirement Fairness for Charities and Educational Institutions Act of 2025
This bill allows 403(b) retirement plans (i.e., retirement plans designed for certain employees of public schools, charities, and churches) to invest in collective investment trusts, which are a group of pooled investment assets held by a bank or trust company, and in insurance company separate accounts.
Arguments for and against
For
The Investment Company Institute says educators, nurses and nonprofit workers "deserve access to the same broad range of cost-effective" options as other savers, and the American Retirement Association says collective investment trust fees can be up to 53% lower than mutual fund fees for the more than 14 million 403(b) participants.
— Investment Company Institute; American Retirement Association · 401(k) Specialist, Nov 10, 2026 ↗
Sponsors Reps. Frank Lucas (R-OK) and Josh Gottheimer (D-NJ) say the bill closes a gap left by SECURE 2.0: tax law now allows collective investment trusts in 403(b) plans, but securities laws still block them, so teachers, nurses and nonprofit workers lack options 401(k) savers have. Lucas: "For too long, retirement options have unfairly disadvantaged public servants."
— Rep. Frank Lucas (R-OK) and Rep. Josh Gottheimer (D-NJ), sponsors · Office of Rep. Frank Lucas, Dec 11, 2025 ↗
Against
The National Education Association urged a no vote, saying the bill "threatens the retirement security of educators" in 403(b) plans not covered by ERISA and "would open a new loophole that allows unregistered brokers to sell unregistered securities to 403(b) plans."
— National Education Association · NEA letter to the House, Nov 10, 2026 ↗
Each argument is attributed to who makes it, with the source. They aren't Polling Desk's view; we review them before they appear.
Roll-call votes
| Date | Vote | Result | D | R |
|---|---|---|---|---|
| Nov 11, 2026 | House · On Passage #321 ↗ | Passed | 83–128 | 211–0 |
Who lobbied on this bill
104 lobbying reports from 24 clients mention H.R. 1013. The client pays; the firm does the lobbying. Reports don't say whether the client supports or opposes the bill.
| Client | Lobbying firm | Reports | Latest |
|---|---|---|---|
| TIAA | PORTERFIELD, FETTIG & SEARS, LLC | 12 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| CHURCH ALLIANCE | K&L GATES, LLP | 10 | 2nd Quarter (Apr 1 - June 30) 2025 ↗ |
| LPL FINANCIAL | In-house | 8 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| AMERICAN ASSOCIATION FOR JUSTICE | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| AMERIPRISE FINANCIAL, INC. | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| GUARDIAN LIFE INSURANCE COMPANY OF AMERICA | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| PRUDENTIAL FINANCIAL | PORTERFIELD, FETTIG & SEARS, LLC | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| VANGUARD GROUP | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| WILLIS NORTH AMERICA INC. | In-house | 6 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| AMERICAN RETIREMENT ASSOCIATION | CGCN GROUP, LLC | 5 | 2nd Quarter (Apr 1 - June 30) 2026 ↗ |
| AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIES | In-house | 5 | 2nd Quarter (Apr 1 - June 30) 2026 ↗ |
| NATIONAL COUNCIL ON TEACHER RETIREMENT 9370 STUDIO COURT ELK GROVE CA 95758 | MR. PETER SNELL | 4 | 1st Quarter (Jan 1 - Mar 31) 2026 ↗ |
| T. ROWE PRICE GROUP, INC. | In-house | 4 | 3rd Quarter (July 1 - Sep 30) 2026 ↗ |
| INVESTMENT COMPANY INSTITUTE | CGCN GROUP, LLC | 3 | 3rd Quarter (July 1 - Sep 30) 2025 ↗ |
| SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION | In-house | 3 | 1st Quarter (Jan 1 - Mar 31) 2026 ↗ |
| AMERICAN HEART ASSOCIATION | In-house | 1 | 4th Quarter (Oct 1 - Dec 31) 2025 ↗ |
| AMERICANS FOR FINANCIAL REFORM | In-house | 1 | 2nd Quarter (Apr 1 - June 30) 2025 ↗ |
| CHAMBER OF COMMERCE OF THE U.S.A. | In-house | 1 | 2nd Quarter (Apr 1 - June 30) 2025 ↗ |
| CHARLES SCHWAB CORPORATION | In-house | 1 | 2nd Quarter (Apr 1 - June 30) 2025 ↗ |
And 4 more clients.
Source: Lobbying Disclosure Act reports at LDA.gov, retrieved November 11, 2026. We search each report's text for the bill number; one report can cover many issues. The Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.
All actions
- Nov 11, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Nov 11, 2026 — On passage Passed by the Yeas and Nays: 295 - 128 (Roll no. 321). (text: CR H6166)
- Nov 11, 2026 — Passed/agreed to in House: On passage Passed by the Yeas and Nays: 295 - 128 (Roll no. 321).
- Nov 11, 2026 — DEBATE - The House proceeded with one hour of debate on H.R. 1013.
- Nov 11, 2026 — Rule provides for consideration of H.R. 1013 with 1 hour of general debate. Previous question shall be considered as ordered except motion to recommit. Bill is closed to amendments.
- Nov 11, 2026 — Considered under the provisions of rule H. Res. 1650. (consideration: CR H6166-6171)
- Nov 10, 2026 — Rule H. Res. 1650 passed House.
- Nov 9, 2026 — Rules Committee Resolution H. Res. 1650 Reported to House. Rule provides for consideration of H.R. 1013 with 1 hour of general debate. Previous question shall be considered as ordered except motion to recommit. Bill is closed to amendments.
- Nov 28, 2025 — Placed on the Union Calendar, Calendar No. 340.
- Nov 28, 2025 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-390.
- May 20, 2025 — Ordered to be Reported (Amended) by the Yeas and Nays: 43 - 8.
- May 20, 2025 — Committee Consideration and Mark-up Session Held
- Feb 5, 2025 — Referred to the House Committee on Financial Services.
- Feb 5, 2025 — Introduced in House
Questions and answers
What is H.R. 1013?
H.R. 1013 (Retirement Fairness for Charities and Educational Institutions Act of 2025) was introduced in the House on Feb 5, 2025, sponsored by Rep. Frank D. Lucas (R-OK-3).
Where does H.R. 1013 stand?
Stopped. Latest action (Nov 11, 2026): Motion to reconsider laid on the table Agreed to without objection.
How many cosponsors does H.R. 1013 have?
24: D 19 · R 5.
Full text on Congress.gov ↗ · More from Congress →
Data: the Congress.gov API (Library of Congress). Polls are reviewed by Polling Desk before they're published. Updated: Nov 12, 11:49 AM ET.
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