IRI pitches retirement agenda to Jeffries as democrats shape affordability platform

The Insured Retirement Institute is urging House Democratic Leader Hakeem Jeffries, D-N.Y., to include retirement-security proposals in Democrats' developing affordability agenda.

In a Sept. 8 letter, IRI President and CEO Wayne Chopus said workers need greater opportunities to save and more access to protected lifetime-income solutions as they face rising housing, healthcare and other household costs.

The letter was also sent to several senior House Democrats, including Democratic Whip Katherine Clark, D-Mass., Democratic Caucus Chair Pete Aguilar, D-Calif., Ways and Means Committee Ranking Member Richard Neal, D-Mass., Education and Workforce Committee Ranking Member Bobby Scott, D-Va., and Financial Services Committee Ranking Member Maxine Waters, D-Calif.

"Retirement security is affordability over a lifetime," Chopus wrote, arguing that workers must be able to convert their savings into reliable income to help cover housing, healthcare, groceries and other everyday expenses throughout retirement.

The group outlined several legislative priorities, including expanded workplace retirement-plan coverage, broader access to lifetime-income products and policies designed to increase retirement savings participation.

Among the proposals highlighted was the Automatic IRA Act of 2025, introduced by Rep. Neal.

The bill would require employers without retirement plans to automatically enroll workers in a retirement-savings arrangement while preserving employees' ability to opt out.

IRI has supported Neal's retirement legislation in the past and identified the Automatic IRA Act as one of the retirement-security measures included in its policy recommendations.

The letter was sent after Jeffries outlined House Democrats' focus on addressing affordability challenges, including the costs of housing, healthcare, groceries and energy.

House Democrats have said they would pursue legislation addressing cost-of-living issues if the party regains control of the House, and polls show Democrats favored to take back the chamber.

IRI said retirement security should be included in those discussions because workers need opportunities to accumulate retirement savings and convert those savings into income to help cover expenses in retirement.

In addition to Jeffries, IRI copied the letter to several senior House Democrats, including Neal, Clark, Aguilar, Scott and Waters, and requested meetings with lawmakers involved in developing the affordability agenda.

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