In a July 13 letter to Senate Banking Committee chairman Tim Scott and ranking member Elizabeth Warren, the group called on lawmakers to advance the Retirement Fairness for Charities and Educational Institutions Act (S.424/H.R.1310). The signatories include the chief executives of TIAA, Principal Financial Group, Prudential Financial, Pacific Life, Nationwide Financial, MetLife, Equitable, and Corebridge Financial. The list also includes Aon, Vanguard, T. Rowe Price, LPL Financial, State Street Investment Management, and Empower Retirement. Together, the signatories span asset managers, life insurers, and benefits industry groups.
Insurers join push to open 403(b) plans to low-cost trusts
