Washington, DC – The following statement should be attributed to Aliya Robinson, Senior Vice President of Retirement and Compensation Policy, The ERISA Industry Committee (ERIC):
“The ERISA Industry Committee applauds lawmakers for introducing the ‘Securing a Strong Retirement Act of 2021.’ Millions of Americans have had their finances negatively impacted during the pandemic; ERIC believes this bill is an essential step to increasing the future retirement security of workers and retirees.
ERIC appreciates that the bill recognizes the looming student loan debt crisis impacting retirement savings as well as the cost and compliance burdens imposed on pension and retirement plans operated by employers.
We are encouraged that the bill also allows for more savings opportunities for plan participants, including expanding the required minimum distribution age and providing additional savings opportunities for those nearing retirement age.
ERIC pledges to work with lawmakers to ensure plan participants are provided the most options for savings and burdensome reporting requirements do not impact plan sponsors.”
Click here to read ERIC’s letter of support to the U.S. House of Representatives Committee on Ways and Means.