Bill > HR2741

This bill, the Public Service Retirement Fairness Act of 2021, aims to modify rules relating to 403(b) plans, which are retirement savings plans for certain public sector employees. The key provisions include: 1. Expanding the permitted investments for 403(b) plans to include group trusts that satisfy the requirements of IRS Revenue Ruling 81-100, in addition to regulated investment company stock. 2. Amending the Investment Company Act of 1940 and the Securities Act of 1933 to clarify the exemptions for 403(b) plans, including plans subject to the Employee Retirement Income Security Act (ERISA), plans where the employer serves as a fiduciary for investment selection, and governmental 403(b) plans. 3. Making similar amendments to the Securities Exchange Act of 1934 to align the treatment of 403(b) plans with the changes in the other laws. These changes are intended to provide more flexibility and investment options for public sector employees participating in 403(b) retirement savings plans, while also ensuring appropriate regulatory oversight and fiduciary responsibilities for these plans.

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https://www.congress.gov/bill/117th-congress/house-bill/2741/all-info