News | 02.07.19
Comprehensive Bill to Aid Retirement Security Likely to Pass House This Year, Says Ways & Means Chair
Rep. Richard Neal (D-CT), chair of the House Ways & Means Committee, said he is putting together a comprehensive bill with Republican ideas to boost retirement security that is likely to pass the House this year. “The retirement crisis is real and will only worsen unless we strengthen Social Security, make saving easier, and do more to encourage employers to offer retirement plans,” said Neal. His comments came on a day when Ways and Means and the Senate Aging Committee held separate hearings on the problems and possible solutions for the nation's retirement system. Neal agreed with Senate Aging Committee Chair Susan Collins (R-ME) that retirement security is a major public policy problem requiring bipartisan solutions. During the House hearing, ThinkAdvisor reports, Reps. Ron Kind (D-WI) and Mike Kelly (R-PA) reintroduced last session's Retirement Enhancement and Savings Act. Meanwhile, in the Senate, bipartisan legislation allowing small businesses to more easily access SIMPLE retirement savings accounts for their employees was reintroduced by Collins and Sen. Mark Warner (D-VA), reports Pensions & Investments.
Read the full article on Forbes