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Reps. Ron Kind, Mike Kelly Urge Ways and Means Committee to Include Kind/Kelly Retirement Bill in Broader Package

March 29, 2019
Press Release

Reps. Ron Kind, Mike Kelly Urge Ways and Means Committee to Include Kind/Kelly Retirement Bill in Broader Package

WASHINGTON – Next week, the House Committee on Ways and Means will consider a landmark retirement bill aimed at strengthening American’s long-term savings and financial security. U.S. Reps. Ron Kind and Mike Kelly are urging Chairman Neal to include their bipartisan Providing Retirement Security to Workers in Small Businesses, Cooperatives, and Service Organizations Act of 2019, which will expand retirement savings for workers in small businesses, cooperatives, and charities.  

“The provisions in this bipartisan bill are vital to the financial success of many working Americans that face limited savings in their retirement. We urge the Committee to adopt them when we consider this important legislation next week,” said Rep. Ron Kind.

“Multiple employer pension plans are a great opportunity for us to enhance retirement savings for the employees of small businesses. We request that the committee seriously consider marking up this bill next week with the broader retirement savings package. These bills together are a huge win for the financial stability of future retirees and their families,” said Rep. Mike Kelly.

The Providing Retirement Security to Workers in Small Businesses, Cooperatives, and Service Organizations Act of 2019 contains two core provisions to expand retirement security – first, it creates a system for small businesses to pool retirement accounts called Open Multiple Employer Plans (MEPs) and would also immediately and permanently reduce pension premiums for MEPs of cooperatives and charities. These two provisions would, taken together, make saving for retirement more affordable for workers in a wide range of occupations nationwide.

Rep. Ron Kind has been active on this issue since 2008, and has introduced similar legislation in previous Congresses.

 

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