Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB4917

Introduced
7/31/24  

Caption

Retirement Fairness for Charities and Educational Institutions Act of 2024

Impact

The proposed amendments in SB4917 are expected to significantly impact the nature of retirement savings plans and investment choices available to those employed by non-profits. By enhancing the legal framework for 403(b) plans, the bill may lead to increased participation rates among employees at these organizations, potentially improving their financial readiness for retirement. Additionally, improved investment choices may bolster the long-term viability of these retirement savings, positively influencing the overall financial health of charity and education sectors.

Summary

SB4917, known as the Retirement Fairness for Charities and Educational Institutions Act of 2024, seeks to amend federal securities laws with the intention of enhancing the regulatory framework surrounding 403(b) plans. This bill is particularly relevant for non-profit organizations, including charities and educational institutions, as it aims to streamline the investment options available to employees within these retirement plans. By updating the definitions and regulations surrounding such plans, SB4917 aims to provide greater flexibility and security for participants as they prepare for retirement.

Contention

Some points of contention around SB4917 may arise from differing perceptions of how these amendments will effectively balance employee needs against the regulatory obligations of non-profit organizations. Supporters of the bill argue that the changes are necessary to modernize outdated regulations that may restrict investment opportunities, while opponents could raise concerns about the adequacy of protections for employees, suggesting that the enhanced flexibility might lead to less oversight over investment choices, thereby increasing risk for participants.

Companion Bills

US HB2799

Related Expanding Access to Capital Act of 2023

US HB3063

Related Retirement Fairness for Charities and Educational Institutions Act of 2023

Previously Filed As

US HB3063

Retirement Fairness for Charities and Educational Institutions Act of 2023

US SB424

Retirement Fairness for Charities and Educational Institutions Act of 2025

US HB1013

Retirement Fairness for Charities and Educational Institutions Act of 2025

US SB5422

Retirement Fairness Act

US HB8964

Medical Records Access Fairness Act of 2024

US SB4123

Carried Interest Fairness Act of 2024

US HB1796

Disaster Survivors Fairness Act of 2023

US HB9590

SAFE Bet Act Supporting Affordability and Fairness with Every Bet Act of 2024

US HB8872

Health Care Worker and First Responder Fairness Act

US HB8017

Realizing Excellence in Institutional Grants, New Infrastructure, Technology and Education Act of 2024

Similar Bills

No similar bills found.