The bipartisan Retirement Enhancement and Savings Act (RESA) introduced in the House of Representatives marks an important step toward helping millions of Americans achieve retirement security.
The Retirement Enhancement and Savings Act would modify some of the existing retirement tax incentives in ways that would improve access to retirement savings.
Financial insecurity can cause many hard-working savers to prematurely withdraw funds from their retirement accounts for unexpected needs.
New bills would advance important goals, such as protecting retirement savings, simplifying account rules, and facilitating lifetime-income options.
The vast majority of 401(k) plan participants and their beneficiaries are on their own to make savings last throughout the remainder of their lives.
One-third of Americans working in the private sector lack access to a retirement plan at work, a disproportionate share of which are employed by smaller businesses.