SECURE 2.0 Bill sails through the House, Ferland commends lawmakers 

In this otherwise riven US Congress, there is agreement on one thing: more should be done to help employers help their workers achieve retirement security. Major bipartisan retirement legislation — the Securing a Strong Retirement Act of 2022 — passed the House (almost unanimously) last week. This sets the stage for Senate action and raises hopes that Congress can pass a final “SECURE 2.0” package this year. The wide-ranging bill contains provisions aimed at expanding plan coverage, boosting savings, increasing lifetime income options and streamlining plan administration. See our GRIST for more on the House-passed bill.

Mercer President and CEO Martine Ferland commended key House lawmakers for their leadership in developing the legislation in March 28 letter. Ferland was in Washington this week to meet with House and Senate lawmakers and several benefits-focused trade groups to exchange views and advocate for sound retirement, healthcare and workplace policies.

House approval of the legislation sets the stage for action in the Senate, where committees are working on their own SECURE 2.0 bills. While those bills will include proposals much like those in the House measure, a number of additional retirement policy ideas could be added to a final package. See our GRIST for the details.