by Rep. Kerri Seekins-Crowe

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Montanans are practical people. We don’t ask for handouts or special treatment. We expect a level playing field and rules that don’t quietly punish us for where we work or whom we serve.

In Helena, the Republican majority is focused on keeping taxes low, cutting red tape, and making sure hardworking families can get ahead. We believe state government shouldn’t make life harder than it needs to be. When federal rules do make life for our teachers, nurses, and pastors, we ought to say so and push to fix it.

That is exactly what is happening with retirement savings. Montanans who teach in our public schools, care for patients in our hospitals, or serve their neighbors through nonprofits and churches are not looking for favors. Yet right now they are missing out on tens of thousands of dollars in retirement savings because of an outdated federal rule.

According to the American Retirement Association, 51,000 Montanans (approximately 9%) save through 403(b) plans—the accounts available to employees of nonprofits, public schools, hospitals, and churches. These are the teachers who coach Little League, the nurses who work double shifts, and the pastors who keep the food pantries open. They save responsibly, and yet regulatory gaps are shortchanging them. It can be closed.

Private-sector workers in 401(k) plans can use collective investment trusts (CITs), a lower-cost alternative to mutual funds, with fees often less than half those of comparable mutual funds and strict fiduciary oversight. Because of a quirk in federal securities law, more than 14.5 million Americans in 403(b) plans, including thousands of Montanans, do not have that option.

The difference compounds. One study found that for a worker earning about $74,000 a year, the cost gap can mean $23,000 to $28,000 less in retirement savings by age 65. That is real money for Montanans lost that to a rule that was never written with them in mind.

Fixing it costs taxpayers nothing. It simply removes a legal barrier so Montana’s 51,000 403(b) savers can use the same low-cost options 401(k) participants have used for years.

Faith communities and public servants are already speaking up. The principle is straightforward: people who spend their careers serving others should not be penalized for when preparing for retirement.

Senator Katie Britt’s Retirement Fairness for Charities and Educational Institutions Act (S. 424) does exactly that. It amends federal securities law so all 403(b) plans can invest in CITs. The bill is bipartisan and its House companion has already passed. Congress fixed the tax side of this problem in SECURE 2.0 in 2022. The securities fix is the last piece.

Researchers estimate the change would increase retirement wealth for nonprofit workers by more than $500 million a year nationwide. Montana’s share of that belongs to our teachers, nurses, and nonprofit workers.

Senator Tim Sheehy has shown he prioritizes leveling the playing field for working Montanans. His co-sponsorship of the Retirement Savings for Americans Act of 2025 reflects that commitment. I urge Senator full Montana federal delegation to get behind and support Senator Britt’s 403(b) fairness bill.

Montanans should not have to wait on Congress alone. The SEC already has the authority to allow CITs in 403(b) plans. If the legislative path stalls, the SEC should use it and deliver relief to the pastors, teachers, and nurses who have waited long enough.

In Helena we work every session to protect the people who keep our communities running. Those same people should not lose ground on retirement security because of a federal rule that treats them differently from everyone else. Montana’s teachers, nurses, and pastors chose careers of service. That choice should not cost them their futures. Washington needs to act.