NAIFA CEO Kevin Mayeux has thanked Sens. Ben Cardin (D-MD) and Rob Portman (R-OH) for introducing the Retirement Security and Savings Act of 2021. The Securing a Strong Retirement Act of 2021 is working its way through the House and three Senators earlier this week introduced the Improving Access to Retirement Savings Act.
These three pieces of legislation are likely to provide the building blocks for bipartisan, comprehensive retirement reform legislation, popularly known as the SECURE Act 2.0. The legislation would increase the ability of employees to make "catch-up" contributions to retirement plans, provide more opportunities and incentives for small employers to offer plans, and offer plan owners more flexibility in their retirement planning, among other benefits.
SECURE 2.0 builds on the original SECURE Act passed in 2019 to ensure that even more Americans have the ability to retire comfortably and provide their families with financial security.
In his letter to the Senators, Mayeux thanks them for their "lifetime achievements in enhancing retirement savings for America's families, businesses, and workers."
NAIFA members and their colleagues will encourage their lawmakers to pass the SECURE Act 2.0 in virtual meetings with their Senators at NAIFA's Congressional Conference. Last May at NAIFA's 2020 Congressional Conference, NAIFA strongly urged Congress to pass the original SECURE Act. One week after the event, the House passed the legislation that eventually became law.