SECURE 2.0 Championed by Foxx Secures Better Future for Retirement Savers
WASHINGTON, D.C., December 20, 2022
Today, Education and Labor Committee Republican Leader Virginia Foxx (R-NC) issued the following statement on the release of SECURE 2.0, landmark bipartisan and bicameral retirement legislation Foxx championed:
“As an original cosponsor of H.R. 5891,the Retirement Improvement and Savings Enhancement Act, I am proud of the bipartisan, bicameral work that went into the final SECURE 2.0 agreement. This targeted and balanced legislation will greatly improve our country’s retirement system. SECURE 2.0 will empower more employers to offer retirement benefits to their employees and encourage more workers to put money towards retirement savings. This is crucial for the long-term financial health of American workers and families and for the future economic health of the nation.
“SECURE 2.0 will enhance our retirement system by allowing charities and non-profits to join multiple employer plans, helping savers locate their lost retirement accounts, clarifying rules regarding the recovery of inadvertent overpayments to minimize hardships on retirees, and simplifying retirement plan reporting and disclosure requirements. Simply put, SECURE 2.0 will better position Americans to plan and save for a secure future.”