IRI Applauds Senate Passage of Resolution Providing Protections to Retirement Savers

IRI Applauds Senate Passage of Resolution Providing Protections to Retirement Savers

Calls for Swift Signature into Law by President Trump

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today issued a statement from IRI President and CEO Cathy Weatherford in response to the Senate’s passage of H.J. Res. 66.

“The Insured Retirement Institute has continually advocated for common sense, bipartisan policies which would expand access to retirement savings accounts and automatic saving features. The Department of Labor regulation – which the Senate nullified today through passage of H.J. Res. 66 – would not have achieved this objective. The Senate has preserved the high level of ERISA protections workers receive when they participate in a workplace retirement savings plans and will not exempt those participating in state-mandated savings plans. Additionally, the Senate eliminated an unfair competitive advantage created by allowing state-run retirement plans to use auto-enrollment and auto-escalation features which are currently prohibited in the private sector. IRI urges President Trump to act expeditiously and sign H.J. Res. 66 into law so that employer choice, competition, and ERISA protections on retirement plan options are preserved.”

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is the leading association for the retirement income industry. IRI proudly leads a national consumer coalition of more than 30 organizations, and is the only association that represents the entire supply chain of insured retirement strategies. IRI members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. As a not-for-profit organization, IRI provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement. Learn more at www.irionline.org.

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For a PDF of this release, please click here.
Contact: John B Jennings