Congress tacks SECURE Act to 2020 spending bill
December 18, 2019 by Insurance Forums Staff
House and Senate leaders announced a deal Monday afternoon to include the SECURE Act in a legislative package to fund the federal government. The SECURE Act, HR 1994, is the most comprehensive retirement security legislation in more than a decade, since the Pension Protection Act of 2006.
It has been bogged down in the Senate since passing the House by an overwhelming bipartisan 417-3 vote back in May, thanks to “holds” placed on the bill by a handful of Senators that for months had prevented the bill from being fast-tracked to President Trump’s desk by unanimous consent. That all changed on Monday.
“We have a first down and goal on the 1-yard line,” said Wayne Chopus, president and CEO, Insured Retirement Institute, in a statement on Monday. “Congress and the President are about to deliver a meaningful, positive benefit to millions of American workers by expanding opportunities to save for and achieve a dignified retirement.”
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