While parties on both sides of the political spectrum are pushing for passage of the SECURE Act, one Washington insider who helped implement the Pension Protection Act says the odds of passage this year aren’t exactly great.
There are several potential paths forward for the SECURE Act, which remains stalled in the U.S. Senate despite is bipartisan appeal.
As Congress and the Trump Administration turn their attention to a budget deal and debt ceiling negotiations, industry stakeholders hope the bipartisan SECURE Act could become part of the process.
Sources say the SECURE Act could pass the House this month, potentially setting the stage for a reconciliation process that could bring together common elements of multiple pending bills.
Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.
The bill would add federal matching contributions for middle-to-low-income class employees, whether enrolled in an employer-sponsored retirement program or not.