IRI TO 116TH CONGRESS: START THE NEW YEAR RIGHT BY ACTING ON RETIREMENT SECURITY

Posted on January 3, 2019

Group Urges Quick Revival of and Action on Bipartisan Legislation


WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today welcomed the start of the 116th Congress on its first official day by urging new and returning lawmakers to revive and act on bipartisan retirement security legislation that nearly passed last year.

Retirement security is a well-documented, major concern for many Americans. Declining access to traditional pension plans means that today’s workers are more responsible for their own retirement financial security. And, increasing lifespans means more years in retirement requiring secure, guaranteed income.

“IRI looks forward to re-engaging with Congress to advance bipartisan common-sense solutions to America’s looming retirement crisis,” said Wayne Chopus, IRI president and CEO. “We need policies that expand access to workplace retirement plans and encourage workers to plan and save for their financial future during their retirement.”

IRI has put forth a retirement security agenda that identifies bipartisan policies to help Americans reach a financially secure and dignified retirement. This includes policies to help make retirement plans more widely available, encourage saving, and increase access to retirement planning advice and lifetime income strategies.

Last year, comprehensive retirement security legislation advocated for by IRI, such as the Retirement Enhancement and Savings Act of 2018 and the Retirement Security and Savings Act of 2018, received strong bipartisan support in the House and Senate. Today, IRI is calling upon all Members of Congress to recommit to these bipartisan solutions and make this issue a top priority for quick action to help Americans save for their retirement.

“The debate over whether retirement security legislation is necessary is over,” Chopus said. “We have significant consensus on what policies are most needed to address the nation’s retirement crisis. All that’s needed is the political will to make this legislation a priority and move it forward in the early months of the new Congress. This is a golden opportunity to demonstrate to the American people that Congress can set aside partisan differences and enact legislation which will benefit millions of Americans.”

 

# # #

Contact: Dan Zielinski