Search
 

Collective investment trusts in 403(b)s? CIT provider urges Congress to pass new bill

It’s a fair and reasonable ask of legislators to create parity of choice for retirement investors, regardless of who their employer is, according to collective trust provider Great Gray Trust Company.

By Lynn Cavanaugh | December 05, 2024 at 12:30 AM
U.S. Capitol.

Collective trust provider (CIT) Great Gray Trust Company is urgently advocating for the passage of a new Senate bill that would allow 403(b) plans to invest using CITs, in letters sent to Congress from its CEO Robert Barnett and its counsel, Covington & Burling and Groom Law Group.

There’s a push by Congress, spearheaded by ranking committee member Senator Tim Scott, to include the ability for 403(b) plans to use the low-cost CIT investment options that many 401(k) plans use today in a bill called Empowering Main Street in America Act of 2024.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2025 ALM Global, LLC. All Rights Reserved.