Congress Vote: The House has passed H.R. 1013 - Retirement Fairness for Charities and Educational Institutions Act of 2025

The House has passed H.R. 1013 - Retirement Fairness for Charities and Educational Institutions Act of 2025. This bill was introduced by Representative Frank D. Lucas.

The vote was 295-128.

You can track corporate lobbying on this bill and relevant congressional stock trades on Investivoq's H.R. 1013 bill page.

Here is a short summary of a November 28, 2025 version of the bill.

H.R. 1013 - Retirement Fairness for Charities and Educational Institutions Act of 2025 Summary

This bill, titled the "Retirement Fairness for Charities and Educational Institutions Act of 2025," aims to amend existing federal securities laws specifically to enhance 403(b) retirement plans commonly used by educators and charitable organizations. The key provisions of the bill are as follows:

Enhancements to 403(b) Plans

The bill proposes several modifications to existing laws related to 403(b) plans, which are tax-advantaged retirement savings plans designed for employees of public schools and certain tax-exempt organizations. The amendments include:

• **Clarifying definitions**: It updates and clarifies which types of investment vehicles can be included in these plans, ensuring that they are compliant with both federal securities and tax laws.
• **Fiduciary responsibilities**: Employers that sponsor these plans need to agree to act as fiduciaries, meaning they must select the investment choices available to employees with care and in the employees' best interest.
• **Investment review**: There are requirements for employers or fiduciaries to review and approve any investment options available to plan participants before they can be offered.
• **Eligibility of investment structures**: The bill amends the definition of acceptable investment vehicles under certain conditions, allowing for collective trust funds and separate account investments as part of these retirement plans.

Amendments to Securities Laws

The bill also makes several technical amendments to existing securities laws to ensure the defined 403(b) plans align with current investment regulations:

• **Securing clearer categorization**: Changes are made to sections of the Securities Act of 1933 and the Securities Exchange Act of 1934 to facilitate better integration of 403(b) plans into federal investment frameworks.
• **Adjustment of eligibility criteria**: It redefines certain eligibility criteria and exceptions in regards to the registration of securities related to these retirement plans.

General Impact

Overall, the aim of this legislation is to strengthen the retirement security for employees of educational and charitable institutions by ensuring their retirement plans are better structured, more regulated, and likely to provide greater investment options. This move is anticipated to enhance the attractiveness and usability of 403(b) plans, potentially benefiting a wide range of employees who work for schools and non-profit organizations.

Relevant Companies

• MOR - Companies involved in retirement planning and financial services may experience changes in demand or operational adjustments to comply with new fiduciary responsibilities.
• BLK - BlackRock, as a major provider of investment management services, might adapt its portfolio offerings to align with the new regulations on 403(b) plans.

This article is not financial advice. Bill summaries may be unreliable. Consult Congress.gov for full bill text. See Investivoq's disclaimers for more information.

Representative Frank D. Lucas Bill Proposals

Here are some bills which have recently been proposed by Representative Frank D. Lucas:

• H.R.9153: To amend the National Defense Authorization Act for Fiscal Year 2025 to exempt certain military installations from guidance regarding the maintenance of the aggregate square footage of facilities of the Department of Defense.
• H.R.8087: Main Street Depositor Protection Act
• H.R.6967: Public Company Advisory Committee Act of 2026
• H.R.5089: Weather Act Reauthorization Act of 2025
• H.R.4459: MINT Act of 2025
• H.R.3816: Weather Act Reauthorization Act of 2025

You can track bills proposed by Representative Frank D. Lucas on Investivoq's politician page for Lucas.

Representative Frank D. Lucas Net Worth

Investivoq estimates that Representative Frank D. Lucas is worth $3.0M, as of November 11th, 2026. This is the 234th highest net worth in Congress, per our live estimates.

Lucas has approximately $0 invested in publicly traded assets which Investivoq is able to track live.

You can track Representative Frank D. Lucas's net worth on Investivoq's politician page for Lucas.