The National Association of Insurance and Financial Advisors (NAIFA) has expressed support for the bipartisan INVEST Act, a legislative package currently before the U.S. House of Representatives. The bill contains more than 20 proposals aimed at improving Americans’ financial security.
One key component of the INVEST Act is the Retirement Fairness for Charities and Educational Institutions Act of 2025. This measure would allow teachers, nonprofit employees, and state workers with 403(b) retirement plans to access investment options similar to those available in 401(k) and 457 plans. Specifically, it would permit access to collective investment trusts (CITs) and insurance separate account products.
NAIFA CEO Kevin Mayeux stated: “NAIFA proudly stands behind the INVEST Act and is urging every member of the House to push this game-changing legislation forward! This powerful package bundles more than 20 bipartisan bills designed to strengthen the financial future of millions of Americans.”
He added: “At the heart of our excitement is the inclusion of the Retirement Fairness for Charities and Educational Institutions Act of 2025—a true equalizer that finally brings 403(b) plans in line with 401(k) and 457 plans. For the first time, teachers, nonprofit workers, and state employees will gain access to the same high-quality investment options their peers already enjoy: collective investment trusts (CITs) and insurance separate account products. NAIFA members are eager to deliver these proven, client-favorite solutions to the dedicated public servants and mission-driven workers who’ve been left out for far too long. NAIFA’s message to House members to advance the bill next week. Let’s get the INVEST Act across the finish line—America’s educators, charities, and state employees are counting on it!”
If passed, this legislation could expand retirement planning options for employees in educational institutions and nonprofits who have previously lacked certain investment choices available in other retirement savings plans.
