Employer Based Retirement Plans Overhaul Likely, Pending House Approval

June 25, 2021

On May 5, the House Ways and Means Committee unanimously passed the Securing a Strong Retirement Act of 2021. The bill has considerable bipartisan support, so it is expected to pass in the house. The bill builds on the SECURE Act, which seeks to provide wider access to retirement savings for Americans. Most of the proposed legislation would not go into effect until after December 31, 2022, however, some provisions would be effective as of December 31, 2021.

The following is a summary of what will likely affect retirement plan sponsors.


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