Congressman Frank Lucas is urging House colleagues to support legislation expanding investment options for retirement plans used by teachers, healthcare workers and nonprofit employees.
House Resolution 1013, the Retirement Fairness for Charities and Educational Institutions Act, would allow 403(b) retirement plans to access investment options available to private-sector workers through 401(k) plans.
In House floor remarks, Lucas said the bipartisan measure could help workers reduce investment fees and keep more of their retirement savings.
“The advantage is that these options can be less expensive to operate, leaving more of the investment’s return in the worker’s account,” Lucas said. “Over the course of someone’s career, even small reductions in investment fees can translate into thousands of additional dollars in retirement savings.”
You can watch Lucas’ floor speech below.
