News | 12.07.18
Richard Neal: The New Face Driving Retirement Policy in Washington
Rep. Richard Neal (D-MA) will become chairman of the House Ways and Means Committee when Democrats take control of the chamber from Republicans in January. Capitol Hill observers say Neal has been perhaps Congress' staunchest champion of retirement legislation. "We've never had a chairman of Ways and Means or the [Senate] Finance committee who's been so knowledgeable and interested in retirement policy," says Brian Graff, CEO of the American Retirement Association. "That's what makes it a big deal — he's knowledgeable, he cares and it's a priority." Federal policy efforts to increase the number of employers offering a workplace retirement plan to employees is where Neal is poised to leave his biggest mark. He last year introduced the Automatic IRA Act of 2017, which would require employers with more than 10 employees that do not sponsor a workplace retirement plan to offer and automatically enroll employees into a payroll-deduction individual retirement account.
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