S. 424 aims to amend federal securities laws to improve 403(b) plans, which are retirement savings plans often used by employees of non-profit organizations and public educational institutions. The bill introduces changes to the Investment Company Act of 1940, the Securities...
Simple Explanation
S. 424 wants to make special retirement savings plans, called 403(b) plans, better for people who work at schools or non-profits by making sure the people in charge choose safe places to invest the money.