Retirement legislation may mean changes
On May 23, the House of Representatives passed a bill that, if adopted by the Senate and signed into law by the president, will mean major changes for retirement plan participants.
The bill (H.R. 1994, the Setting Every Community Up for Retirement Enhancement Act) has bipartisan support and is the natural byproduct of a legislature that is concerned about the retirement security of American workers.
As House Ways and Means Committee Chairman Richard E. Neal, D-Mass., said in a news release: “With passage of this bill, the House made significant progress in fixing our nation’s retirement crisis and helping workers of all ages save for their futures.”