Senate HELP Retirement Security Hearing
Yesterday, ERIC submitted a statement for the Senate HELP Committee’s hearing on retirement security. The hearing discussed the retirement savings crisis for Americans and what solutions can be pursued. Of the possible solutions, auto-enrollment and funding the social security trust were discussed the most. Members also took the opportunity to address the inequalities in retirement plans and focused on the number of Americans dependent on pensions and social security. Witnesses also noted support for electronic notarization becoming permanent, electronic delivery of plan notices, and emergency savings accounts. The hearing is a good indication of the Senate’s interest in moving forward with retirement legislation and we look forward to working with them moving forward.
To read our statement, click HERE.
Securing a Strong Retirement Act Letter
Last week, the House Ways and Means Committee held a markup on SECURE 2.0, which passed the full committee by voice vote. ERIC submitted a letter of support for the legislation. Although, we remain concerned about a few provisions, including the requirement to provide a periodic paper statement even if a participant has chosen electronic disclosure. It is uncertain when the bill will receive a vote on the House floor and/or whether it will be combined with other legislation.
To read our letter, click HERE.