Lawmakers from each party recognized for their dedication to preserving Americans’ access to affordable, professional financial advice and bolstering retirement savings
The Financial Services Institute (FSI), the leading advocacy organization for the independent financial services industry, today announced that it has named Senators Todd Young (R-IN) and Mark Warner (D-VA) as its 2022 Congressional Champion for Main Street Award recipients.
The annual award recognizes lawmakers for their continued commitment to advancing the interests of Main Street American investors by defending access to affordable, professional financial advice, products and services.
FSI’s President & CEO, Dale Brown, said, “We are pleased to recognize Sens. Todd Young and Mark Warner as our 2022 Congressional Champions for Main Street. With market volatility, continued inflation and rising interest rates impacting household budgets and savings and altering financial plans, hard-working Americans need objective, professional financial advice to navigate this new economic landscape. Sens. Young and Warner have played integral roles in advancing legislation that strengthens Main Street Americans’ ability to save for retirement and work with the trusted financial advisor of their choice to achieve their financial goals.”
Senator Todd Young
Sen. Todd Young, who serves on the Senate Finance and Commerce, Science and Transportation Committees, has championed efforts to bolster Americans’ ability to save for retirement and emergencies. He cosponsored the Emergency Savings Act of 2022 to help Americans save for unexpected expenses without having to tap into their retirement accounts. In addition, he has led efforts to provide more financial flexibility for families of loved ones with special needs by introducing the Special Needs Trust Improvement Act of 2022. The legislation would provide families greater flexibility in choosing the remainder beneficiary of trusts established for family members who have a disability or chronic illness.
“In the Senate, one of my top priorities has been protecting and improving the financial future of hard-working Hoosiers and all Americans. One way to achieve this is by passing my Emergency Savings Act to create stable emergency savings for unforeseen expenses, while keeping retirement accounts intact for the future. Another way Congress is working on this issue is by supporting families of special needs individuals in their retirement planning through my Special Needs Trust Improvement Act. I’m honored to receive this year’s Congressional Champion for Main Street Award, and I will continue to work every day to make Main Street America proud,” said Sen. Young.
Senator Mark Warner
As a member of the Senate Finance Committee as well as the Banking, Housing and Urban Affairs Committee, Sen. Mark Warner has worked to help Main Street Americans achieve a financially secure retirement. He was instrumental in helping pass the Enhancing American Retirement Now (EARN) Act, including the provision to enhance first responder retirement funds. In addition, Sen. Warner introduced the Portable Retirement and Investment Account (PRIA) Act of 2021 to help bring the country’s retirement system into the 21st century. The legislation would create universal, portable retirement and investment accounts that are accessible to all Americans throughout their lives even as they change jobs or transition careers.
“I am proud to be honored as one of the Financial Services Institute’s 2022 Congressional Champions. Before the economic crisis caused by the pandemic, Americans were already struggling to save for retirement. Now, there are even more financial challenges facing our workforce as more Americans are likely to change jobs and be engaged in non-traditional forms of work than they were a generation ago. Providing more workers access to flexible, portable benefits such as retirement savings they can carry with them from employer to employer will continue to be essential and I look forward to continuing to find ways to provide workers with the support and benefits they deserve,” said Sen. Warner.
Brown concluded, “On behalf of our members across the country, we thank Sens. Young and Warner for their consistent dedication to representing the needs of Main Street American investors and the independent financial services industry. We look forward to continuing to work with them to promote this vital cause.”
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