HR 2741
Public Service Retirement Fairness Act of 2021
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Bill overview
The Public Service Retirement Fairness Act of 2021 aims to expand investment options for 403(b) retirement plans, which are commonly used by employees of public schools, nonprofits, and churches. Specifically, the bill allows these plans to invest in ‘collective investment trusts,’ a type of pooled investment. It also updates relevant securities laws to include these plans within the definition of eligible investments, and clarifies fiduciary responsibilities for employers offering these plans.
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