FSI Statement on Introduction of Bipartisan Retirement Security Bill

October 27, 2020

Proposed legislation expands upon the SECURE Act

Today, the House Ways & Means Committee released the Securing a Strong Retirement Act of 2020. The proposed legislation was introduced by Committee Chairman Richard Neal (D-MA-01) and Committee Ranking Member Kevin Brady (R-TX-08). It builds upon the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), which was signed into law in December 2019 and was the most comprehensive retirement security legislation in more than a decade. 

While the Financial Services Institute (FSI) is reviewing the proposed legislation, FSI President & CEO Dale Brown provided the following comment: 

“Our country is facing a retirement savings crisis that has been compounded by the economic impact of the COVID-19 pandemic. It is promising to see continued interest in Congress to address this critical issue, and we applaud the committee leadership’s bipartisan approach. We look forward to working constructively with lawmakers to ensure this crucial legislation effectively assists Main Street Americans’ ability to achieve a financially secure retirement.”