New Portman-Cardin Retirement Security Legislation Receives Widespread Praise
New retirement security legislation introduced today by
"Senators Portman and Cardin are leaders in providing bipartisan solutions to retirement savings," said
"The
"For many years, retirement policy legislation has enjoyed a tradition of bipartisanship, and Senators Portman and Cardin have been leaders in this regard," said
"We applaud provisions in the bill that will improve the retirement security of today's workers," said
"TIAA applauds the continued bipartisan leadership of Senators Portman and Cardin and we thank them for their unwavering dedication to helping ensure a secure retirement for millions of Americans. We especially appreciate the emphasis their legislation puts on the importance of lifetime income, a vital piece to solving today's retirement security challenges," said
"Senators Portman and Cardin have introduced a bipartisan bill that will significantly improve retirement security for all Americans," said
"
"We are grateful to Senators Portman and Cardin as they once again take the lead in offering reforms to provide American workers with a more secure retirement. Their proposed legislation would expand coverage and encourage higher savings rates, promote lifetime income options and reduce administrative burdens. We look forward to working with them to achieve these important reforms," said Edmund F. Murphy III, President of Empower Retirement.
"We want to thank Senators Portman and Cardin and their respective staffs for the tremendous efforts they put into the retirement legislation they plan to introduce this week. The bill has great potential to significantly improve retirement security for middle-class Americans, particularly by increasing their access to guaranteed lifetime income. From the perspective of our client the
"The bill introduced by Senators Portman and Cardin motivates employees to save for the future and incentivizes employers to start retirement plans. Together, this will help our country to save more. People want to save and have a secure retirement -- all they need is a nudge in that direction. And that is what the bill would do - nudge employees toward saving by enhancing automatic enrollment in plans. The bill also transforms the Saver's Credit from cash to a retirement plan contribution, helping those most in need to save more. It also addresses the gap in retirement plan coverage by providing assistance in the form of tax credits to small businesses that start a plan. This is a great bill that will do so much to enhance savings in our country," said LPL advisor Mark Van Drunen CFP(R),
"
"Based on my experience working with clients in
"We are pleased to express our enthusiastic support for the legislation introduced by Senators Portman and Cardin," said
"Too often, families enter retirement unprepared. The Retirement Security & Savings Act of 2018 wisely addresses all phases of the retirement preparedness challenge," said
"Retirement plan coverage among small employers remains far too low, because of the cost of maintaining small plans. Help is needed from lawmakers. We believe that the bill introduced by Senators Portman and Cardin would deliver exactly the type of help that is needed by reducing plan costs for small employers and providing enhanced tax credits to help cover remaining costs. We applaud the leadership of Senators Portman and Cardin and look forward to helping them move this bill forward," said
Sens. Portman, Cardin Introduce Sweeping Reforms to Strengthen Americans’ Retirement Security
Rollovers Often Are Key in Traditional IRA Ownership
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News