IRI Supports Bi-partisan Legislation to Help Americans Achieve Their Retirement Goals

IRI Supports Bi-partisan Legislation to Help Americans Achieve Their Retirement Goals

Bills will Better Prepare Consumers & Increase Access to Lifetime Income  

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI Senior Vice President and General Counsel Lee Covington in response to the introduction of H.R. 4604, the Increasing Access to a Secure Retirement Act, by Representative Tim Walberg (R-MI) and Representative Lisa Blunt Rochester (D-DE) and the reintroduction of H.R. 4610, the Receiving Electronic Statements to Improve Retiree Earnings Act (RETIRE Act), by Representative Phil Roe (R-TN) and Representative Jared Polis (D-CO).

"IRI enthusiastically supports these two bills that will remove some of the obstacles Americans face in planning for retirement. Both bills are included in IRI’s 2017 Blueprint for Retirement Security.

The Increasing Access to a Secure Retirement Act by Chairman Walberg and Representative Blunt Rochester will enable employers to provide workers guaranteed lifetime income products in their retirement plans. The bill provides a clear path for employers to meet their fiduciary obligations and will allow more retirement savers the opportunity to convert their retirement savings into guaranteed lifetime income.

The RETIRE Act by Representatives Roe and Polis will modernize employee communications, enabling employers to use electronic communications, reduce administrative costs, and maintain important safeguards to ensure participants who still want to receive required communications in paper format to do so.

We are committed to working with Chairman Walberg, Representative Blunt Rochester, Representative Polis and Representative Roe to move these bills forward in 2018.

IRI submitted letters of support to the sponsors of the bills which can be accessed here for H.R. 4604 and H.R. 4610.  

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Contact: John B Jennings