Page 6 - Wayne Chopus News Today

Senators reintroduce bipartisan retirement security package A major bipartisan retirement security package has been reintroduced in the Senate. The Retirement Security and Savings Act, sponsored by Sens. Rob Portman, R-Ohio, and Ben Cardin, D-Md., features more than 50 provisions aimed at getting people to save more for retirement. The bill, a version of which was last introduced in 2019, would increase the tax credit for small business starting a new retirement plan, raise the "catch-up" contr...

House Committee To Vote on Bipartisan Retirement Legislation Measure Will Improve Workplace Retirement Plans and Access to Lifetime Income Solutions WASHINGTON, D.C., UNITED STATES, May 5, 2021 /EINPresswire.com/ -- A House Committee is expected to vote today on bipartisan retirement security legislation to enhance features of employer-provided retirement plans, expand the opportunities for more workers to save for retirement, and facilitate the use of protected lifetime inc...

House Committee Expected to Advance ‘SECURE Act 2.0’ Commenting on the expected legislative action, sources agree the stakes remain high when it comes to addressing the U.S. retirement security gap. Reported by The House Ways and Means Committee has scheduled a markup session for 11 a.m. EST, May 5—i.e., tomorrow—focused on advancing the “Securing a Strong Retirement Act.” A markup session is where a committee formally considers a bill and debates amendments, should any be put forwa...

House committee to consider Secure 2.0 retirement bill this week. Heres whats in it CNBC 5 hrs ago Sarah OBrien Among other provisions, the bill would change when required minimum distributions must start, to age 75 from 72. The measure also would increase the allowed "catch-up" contributions to retirement plans for people ages 62 through 64. If the bill is voted out of committee, it would head to the full House for a floor vote at some point. © Provided by CNBC House Ways ...

Among the provisions included in the new bill, which is similar to a version floated last year by Neal and Brady, is gradually increasing the age when individuals must begin taking required minimum distributions from their retirement accounts to age 75 from 72 (the Secure Act changed it to 72 from 70½) and requiring most companies that open a new 401(k) plan (or similar workplace option) to automatically enroll their employees. "Weve learned over time … that people who are auto-enrolled are ...

Sen. Young: Bipartisan Approach Needed For Retirement Security Older Americans are growing more confident in a secure retirement. Congress can take steps to strengthen Americans’ retirement security, but any successful effort will require a bipartisan approach, said the ranking member of the Senate Subcommittee on Social Security, Pensions and Family Policy. Sen. Todd Young, R-Ind., spoke with Wayne Chopus, president and CEO of the Insured Retirement Institute, during an online session on how...

Gensler had previously served as the chair of the U.S. Commodity Futures Trading Commission (CFTC) during the Obama administration, and also served as the chair of the Maryland Financial Consumer Protection Commission from 2017 to 2019, pressing for higher standards for broker/dealers and investment advisors.  Gensler also has a long history with Wall Street, joining Goldman Sachs in 1979, spending 18 years with the firm. He later served as assistant secretary of the Treasury during the Clinto...

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Insured Retirement Institute wants more worker access to plans, annuities Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections. March 4, 2021 3 MINS When the SECURE Act was approved by Congress in late 2019, it was hailed as a landmark retirement savings bill. The Insured Retirement Institute is advocating ...