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Faith leaders urge SEC to expand retirement options for nonprofit workers

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(The Center Square) – Faith leaders and conservative groups want the Securities and Exchange Commission (SEC) to change retirement rules they say hurt nonprofit and church workers.

In a letter sent Tuesday to SEC Chairman Paul S. Atkins, the coalition requested that the agency allow 403(b) plans to invest in collective investment trusts, or CITs. Private-sector 401(k) plans already use those funds, but most 403(b) plans cannot.

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