'Transformative' retirement reform package passes the House and heads to the Senate [View all]
Source: Yahoo Finance
A retirement reform plan known as “SECURE 2.0” is finally on the move again on Capitol Hill.
The bill, known formally as the Securing a Strong Retirement Act of 2022, was passed by the House of Representatives Tuesday in an overwhelming 414 to 5 vote.
“Oftentimes in this chamber you will hear the phrase transformative,” said Ways and Means committee chairman Richard Neal (D-MA) as the bill neared passage. “Sometimes it’s hyperbolic but on this occasion, this is transformative legislation.”
Expanding on a landmark 2019 retirement bill, the bill aims to further expand Americans' ability to save for retirement and increase their options for doing so. If it passes the Senate, SECURE 2.0 could be a boon for savers from people still paying student loans to retirees behind on their bills.
Read more: https://www.msn.com/en-us/money/personalfinance/transformative-retirement-reform-package-passes-the-house-and-heads-to-the-senate/ar-AAVBqEa
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