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NAIFA along with five other organizations has sent a letter to Congress asking legislators to support the Insured Retirement Institute’s (IRI) five-point plan to help retirement savers recover from losses caused by the COVID-19 outbreak. NAIFA has worked with IRI to promote the plan and garner support in Congress.

 

The plan calls for legislation to:

 

  • Increase the age for retirement-plan required minimum distributions (RMDs)
  • Eliminate barriers to qualified longevity annuity contracts in retirement plans
  • Allow COVID-19 catch-up contributions for plan participants of any age
  • Allow 403(b) plans to participate in multiple-employers plans (MEPs) or pooled-employer plans (PEPs)
  • Clarify a SECURE Act provision to allow more small businesses to use the MEPs/PEPs start-up plan tax credit

 

For more details on the IRI’s five points, please read the letter or see IRI's press release.

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