US HB1013

Amends the Investment Company Act of 1940 to allow 403(b) retirement plans used by nonprofits and educational institutions to invest in collective trust funds, which were previously available only to 401(k) plans

Requires 403(b) plans accessing collective trust funds to meet one of three conditions: be subject to ERISA Title I, have an employer agree to serve as fiduciary for investment selection, or be a governmental plan with employer/fiduciary review of investment options

Amends the Securities Act of 1933 to exempt qualifying 403(b) plan interests from securities registration requirements, matching exemptions already available to 401(k) plans

Amends the Securities Exchange Act of 1934 to classify qualifying 403(b) plan interests as exempt securities, reducing regulatory burdens on plan sponsors and participants

Expands investment options and potentially lowers costs for approximately 10 million workers at public schools, universities, hospitals, and charitable organizations who participate in 403(b) plans