The U.S. Senate today passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 as part of the fiscal 2020 spending bill, which the House passed on Tuesday. The SECURE Act will make it easier for small businesses to offer employee retirement plans. It will also give retirement savers greater flexibility to participate in plans and choose investment options and will encourage adequate savings amounts. The American Council of Life Insurers (ACLI) estimates that SECURE will result in 700,000 additional American workers saving for retirement.
