U.S. House of Representatives
Washington, DC 20515
Dear Representative:
On behalf of our 3 million members and the 50 million students they serve, we urge you to VOTE NO on the Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013). Votes on this issue may be included in NEA’s report card for the 119th Congress.
This bill threatens the retirement security of educators and other participants in 403(b) plans not covered by the Employee Retirement Income Security Act (ERISA). It would open a new loophole that allows unregistered brokers to sell unregistered securities to 403(b) plans—in effect, promoting the sale of risky, often harmful investment products by individuals not bound by the same consumer protection standards as registered brokers.
H.R. 1013 is scheduled to come to the floor later this week. We urge you to VOTE NO to ensure that existing consumer protection standards continue to apply to educators and other participants in 403(b) plans.
Sincerely,
Kimberly Johnson Trinca
Director of Government Relations
National Education Association
