With the start of the 116th Congress, the Insured Retirement Institute (IRI) is urging lawmakers to address retirement security legislation that nearly passed last year.
“IRI looks forward to re-engaging with Congress to advance bipartisan, common-sense solutions to America’s looming retirement crisis,” Wayne Chopus, IRI president and CEO, said. “We need policies that expand access to workplace retirement plans and encourage workers to plan and save for their financial future during their retirement.”
IRI officials said declining access to traditional pension plans means today’s workers are more responsible for their own retirement financial security. Increasing life spans mean more years in retirement requiring secure, guaranteed income.
“The debate over whether retirement security legislation is necessary is over,” Chopus said. “We have significant consensus on what policies are most needed to address the nation’s retirement crisis. All that’s needed is the political will to make this legislation a priority and move it forward in the early months of the new Congress. This is a golden opportunity to demonstrate to the American people that Congress can set aside partisan differences and enact legislation which will benefit millions of Americans.”
The organization’s retirement security agenda identifies bipartisan policies to help Americans reach a financially secure and dignified retirement. The effort includes policies to help make retirement plans more widely available, encourage saving and increase access to retirement planning advice and lifetime income strategies.