ISSN 2330-717X

Wyden, Hatch Introduce Legislation To Increase Access To Retirement Savings

By

Senate Finance Ranking Member Ron Wyden (D-Ore.) and Committee Chairman Orrin Hatch (R-Utah) on Thursday introduced the Retirement Enhancement and Savings Act of 2018 (RESA), which aims to increase voluntary retirement savings and includes a provision to establish more flexible multiple employer plans.

“Working Americans are struggling to set money aside for retirement,” Wyden said. “This bipartisan bill gives employers incentives to make it easier for their employees to save. It also allows seniors over 70 to make tax-free contributions to their IRA. These types of provisions are key to addressing our country’s savings crisis.”

“This legislation creates workable, voluntary solutions to help workers better save for their future,” Hatch said. “Authorizing multiple employer plans would let smaller employers join together to sponsor one retirement plan for their workers, making it more feasible for businesses of all sizes to offer retirement plans and increasing access for millions of Americans wishing to save for retirement.”


Enjoy the article? Then please consider donating today to ensure that Eurasia Review can continue to be able to provide similar content.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

CLOSE
CLOSE

Notice: Undefined variable: font_family in /home/eurasiar_bak/public_html/wp-content/plugins/gdpr-cookie-compliance/moove-modules.php on line 282