Help Is On The Way for Workers Worried About Retirement

May 7, 2021 — In Case You Missed It...   

Following the successful passage of the bipartisan Securing a Strong Retirement (SECURE) Act of 2021 out of the Ways and Means Committee this week, support for the bill is surging, with experts and constituent groups calling on Congress to move forward and pass needed retirement legislation.

 

READ: What They’re Saying About SECURE 2.0

 

President and CEO of the Insured Retirement Institute (IRI) Wayne Chopus wrote for Morning Consult:

 

Our nation faces a retirement crisis because too few individuals have the means to sufficiently save for their golden years. […] Despite a deep political divide on many issues, retirement security remains bipartisan. The SECURE Act was a first step. But much more needs to be done to help people build economic equity, strengthen financial security and protect income in a way that can sustain them through their retirement years. We know the problem, and we have a bipartisan solution.”

 

KEY TAKEAWAYS:

  • The Pandemic Hurt Retirement Plans: Fidelity Investments’ 2021 State of Retirement Planning Study survey reported:
    • A staggering 8 in 10 Americans had their retirement plans thrown off by the pandemic. 
    • A third of respondents estimate that it will take them up to three years to get back on track.
  • Help is On the Way: SECURE 2.0 builds upon this success with key provisions that help workers at all stages of their career save for retirement. Learn more here.
  • The Time for Congress to Pass SECURE 2.0 Is Now. Read what top retirement experts are saying about SECURE 2.0.