U.S. Senate Passes the SECURE Act
WHITE PLAINS, N.Y., Dec. 20, 2019 /PRNewswire/ -- The U.S. Senate has passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act by an overwhelming majority. This bill is one of the most significant changes to retirement plan rules since the Pension Protection Act of 2006. The SECURE Act passed the U.S. House of Representatives on May 23, 2019 by a nearly unheard-of margin of 417 to 3. We anticipate that it will be signed into law shortly.
Leading retirement planning expert Richard Rausser, Senior Vice President of Pentegra, released the following statement:
“It is encouraging to see Congress take such an enthusiastic and sensible stand on retirement savings. We applaud these lawmakers and urge the President to take swift action to sign this bill into law and help support millions of Americans in dire need of changes to their retirement planning options.
The SECURE Act has a robust new set of rules that will hugely benefit this country’s workforce. It was long overdue that the government recognize that the average life expectancy of Americans has been increasing along with people’s willingness and ability to work longer. The Act includes many positive changes to protect retirement savings for more Americans and we hope to see the President sign it into law quickly.”
More details on the SECURE Act are available here.
Pentegra is a leading provider of retirement plan and fiduciary outsourcing solutions to organizations nationwide. Founded in 1943, we offer retirement plan and fiduciary outsourcing solutions designed to help plan sponsors minimize risk, ease retirement plan burdens and reduce work. The result: powerful, retirement plan solutions that deliver improved plan outcomes and a better way to offer a retirement plan. For more information, go to www.pentegra.com.
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