Congressman Again Pushes for Expanding Investment Options in 403(b)s A lack of access to the same investment types allowed in other DC plans means 403(b) plan participants are missing out on increased retirement savings, industry sources say. Reported by Congressman Jimmy Panetta, D-California, has re-introduced the Public Service Retirement Fairness Act, a bill that would allow collective investment trusts (CITs) as investment options in 403(b) plans. The bill was first introduced last March and was referred to the House Committee on Financial Services and the House Committee on Ways and Means, but nothing has come of it since. CITs are collectively managed investment vehicles that typically have lower costs and more flexibility than annuity contracts and mutual funds—the only types of investments allowed in 403(b) plans. With excessive fee lawsuits extending to the 403(b) space and account assets growing larger with time, 403(b) plan sponsors have been inquiring about offering CITs on their plan menu.