05/06/2021 | Press release | Distributed by Public on 05/07/2021 15:21
Washington, DC - Yesterday, Rep. Ron Kindvoted to pass H.R. 2954, the Securing a Strong Retirement Act of 2021, out of the Ways and Means Committee. This bipartisan legislation improves workers' long-term financial wellbeing, expands opportunities for Wisconsinites to boost their retirement savings, and builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019which Rep. Kind helped authorduring the 116th Congress.
'With financial security during the golden years of life out of reach for many families, it's clear that we need to work to ensure easier pathways to savings,' said Rep. Ron Kind. 'This bipartisan legislation will expand auto enrollment and streamline many retirement plan rules to help hard working Wisconsinites start planning for their retirement earlier. We need to ensure all Americans can afford to retire, and this bill takes important steps towards making that goal a reality.'
H.R. 2954 includes several of Rep. Kind's bipartisan bills to enhance retirement savings options, including one that will allow public schools and nonprofit organizations to participate in multiple employers plans (MEPs) with other small employers in order to pool resources and lower costs. It also includes Rep. Kind's bill that will enhance the startup tax credit to encourage more small businesses to join a MEP.
Rep. Kind serves on the Ways and Means Committee, the most powerful - and the oldest - committee in the House of Representatives. It has jurisdiction over tax measures, the management of public debt, trade and tariff laws, Social Security, Medicare, pensions, and many other economic growth measures.
Read the bipartisan bill here.