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![handle is hein.congrecreports/crptxafvg0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-311
RETIREMENT FAIRNESS FOR CHARITIES AND
EDUCATIONAL INSTITUTIONS ACT OF 2023
DECEMBER 12, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 3063]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 3063) to amend the Federal securities laws to enhance
403(b) plans, and for other purposes, having considered the same,
reports favorably thereon with an amendment and recommends
that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Retirement Fairness for Charities and Educational
Institutions Act of 2023.
SEC. 2. ENHANCEMENT OF 403(b) PLANS.
(a) AMENDMENTS TO THE INVESTMENT COMPANY ACT OF 1940.-Section 3(c)(11) of
the Investment Company Act of 1940 (15 U.S.C. 80a-3(c)(11)) is amended to read
as follows:
(11) Any-
(A) employee's stock bonus, pension, or profit-sharing trust which meets
the requirements for qualification under section 401 of the Internal Rev-
enue Code of 1986;
(B) custodial account meeting the requirements of section 403(b)(7) of
such Code;
(C) governmental plan described in section 3(a)(2)(C) of the Securities
Act of 1933;
(D) collective trust fund maintained by a bank consisting solely of assets
of one or more-
(i) trusts described in subparagraph (A);
(ii) government plans described in subparagraph (C);
(iii) church plans, companies, or accounts that are excluded from the
definition of an investment company under paragraph (14) of this sub-
section; or
49-006](ViewImageLocal?handle=hein.congrecreports/crptxafvg0001&div=1&collection=&method=preview&ext=.png&size=3)