ACLI Applauds House Passage of INVEST Act, Advancing Retirement Fairness and Modern E-Delivery

Washington, D.C. - The American Council of Life Insurers (ACLI) commends the U.S. House of Representatives for passing the INVEST Act. The landmark legislation ensures fairness for charities and educational institutions offering retirement plans and modernizes how investor disclosures are delivered.

The bill includes the "Retirement Fairness for Charities and Educational Institutions Act," which allows schools, hospitals, charities, and other non-profit organizations offering 403(b) retirement plans to access the same investment options as 401(k) plans. This levels the playing field for these institutions as they compete for talent and supports the financial security of their employees.

Another key provision incorporates the "Improving Disclosure for Investors Act" that enables registered investment companies to deliver regulatory documents electronically, with robust investor protections. Investors retain the choice to opt for paper delivery, while the default to e-delivery reduces environmental impact and enhances access to information.

ACLI thanks House leadership for their commitment to advancing policies that enhance and modernize families' financial protection.

Read ACLI President & CEO David Chavern's letter to House leadership in support of the bill.

The American Council of Life Insurers is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI's member companies are dedicated to protecting consumers' financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI's 275 member companies represent 93 percent of industry assets in the United States.