ICI Commends Bipartisan Bill to Strengthen America’s Retirement System; Urges Swift Passage

Washington, DC; May 5, 2021—Investment Company Institute (ICI) Deputy General Counsel for Retirement Policy David Abbey issued the following statement after the House Ways and Means Committee approved the Securing a Strong Retirement Act (H.R. 2954), also known as the SECURE Act 2.0:

“We appreciate Chairman Richard Neal and Ranking Member Kevin Brady’s bipartisan efforts to strengthen America’s retirement system. This bill will help American workers better plan and invest for their retirement by, among other things, requiring inflation adjustments to IRA catch-up contribution limits, increasing the age at which savers must withdraw money from their retirement accounts, and creating an online ‘lost and found’ registry to help savers reconnect with unclaimed retirement accounts. We encourage members on both sides of the aisle to cosponsor this important bill and urge its swift passage.”