SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on retirement legislation that passed the Senate today as part of the omnibus spending package, which will soon be voted on in the House:
“The American retirement system has helped millions of Americans prepare for a secure future, and the private sector has played an important role in providing and administering retirement plans. The legislation passed today takes important steps toward enhancing the private retirement system and increasing retirement savings, including provisions that will incentivize small businesses to offer retirement plans, enable older Americans to save more and hold on to their savings longer, and help young people to save while paying off student loan debt. We commend Rep. Richard Neal (D-MA), Rep. Kevin Brady (R-TX), Sen. Ron Wyden (D-OR), Sen. Mike Crapo (R-ID), Sen. Ben Cardin (D-MD), Sen. Rob Portman (R-OH) and their staffs for their long-standing commitment to improving retirement security for all Americans and for their work on this important legislation.”
