Retirement Savers Win Thanks to SECURE Act Becoming Law

Earlier today President Trump signed the 2020 spending package, which wisely included the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. This is a huge win for millions of retirement savers, groups like Gold Star families, and bipartisanship. With the SECURE Act now the law of the land, our nation has taken a major stride forward in modernizing the way new generations of Americans prepare for retirement. The American Council of Life Insurers (ACLI) applauds the president for signing the SECURE Act into law as part of the spending package. And we commend the bill’s bipartisan champions in Congress, including Ways and Means Committee Chairman … Continue reading "Retirement Savers Win Thanks to SECURE Act Becoming Law"

Retirement Savers’ Holidays Looking SECURE

Amid the hustle and bustle of the holiday season, it’s important to hit pause every now and then and reflect on the many things we are thankful for. That said, it never hurts to make a list of what we wish for! Not surprisingly, many retirement savers’ “thankful lists” and “wish lists” intersect this year around the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act is the most sweeping retirement security legislation in more than a decade. It would mark a significant step toward modernizing America’s retirement system for workers. The U.S. House of Representatives yesterday … Continue reading "Retirement Savers’ Holidays Looking SECURE"

Win the Game for Everyday Americans, Pass the SECURE Act

Last Sunday, college football fans nationwide learned which bowl game their team would play in. After weeks of speculation, they gained the certainty they need to plan. Iowa Hawkeye fans like me learned they can book flights to San Diego. They’ll be playing in the Holiday Bowl on December 27. Penn State boosters like my daughter learned they’ll play in the Cotton Bowl on December 28 in Dallas. And University of Texas supporters learned the Longhorns will play in the Alamo Bowl on December 31 in San Antonio. Now it’s time to get certainty from Capitol Hill. Everyday Americans stand … Continue reading "Win the Game for Everyday Americans, Pass the SECURE Act"

Senate Can Support Volunteer First Responders by Passing SECURE Act

I bet you didn’t know the United States is protected by 80% more volunteer firefighters than career firefighters. I bet you also didn’t know that the number of volunteer firefighters has been dropping precipitously. Don’t feel bad – I didn’t know these facts either. But I do know this: there is legislation awaiting U.S. Senate approval that will help attract and retain these and other brave volunteers. That legislation is the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act exempts certain volunteer recruitment and retention incentives from being subject to federal income tax. Across the nation … Continue reading "Senate Can Support Volunteer First Responders by Passing SECURE Act"

SECURE Act Benefits the Many, Not the Few

Low and middle-income Americans struggling to save for retirement are counting on the U.S. Senate to pass the SECURE Act. There’s no time to wait. Millions of Americans would benefit. One provision alone will get 700,000 Americans who work for small businesses to begin saving for retirement. SECURE is essential to help address America’s retirement savings gaps. There is overwhelming, bipartisan support for SECURE. In fact, 417 members of the U.S. House voted for the bill. Only three members voted against SECURE.  That’s less than 1 percent of the legislative body. It should be noted that a few have expressed … Continue reading "SECURE Act Benefits the Many, Not the Few"

Senate Passage of SECURE Act Would Help Gold Star Families and All Americans

Every November 11 on Veterans Day, the United States proudly honors the brave men and women who served in our armed forces.  We also honor their families, for the many sacrifices and hardships they endured while their loved ones protected our nation. These heroes and their families deserve our utmost respect and gratitude. Instead, some survivors of fallen U.S. troops are facing an undeserved tax burden. The 2017 federal tax reform law unintentionally changed the tax rules for children of U.S. military members who died on duty. Consequently, an estimated 18,000 Gold Star families watched the tax bill on their … Continue reading "Senate Passage of SECURE Act Would Help Gold Star Families and All Americans"

Financial Advisors from 50 States Urge Senate to Pass SECURE Act

A well-known national motto e pluribus unum or “out of many, one” is a powerful statement of our strength as a unified nation. It reminds us that our country is greater than the sum of its parts and appears on the Great Seal of the United States, as well as most U.S. currency. This isn’t just a high-minded idea. It also illustrates how individuals in the real world come together for a common purpose in our democracy. And that’s just what’s happening today. This morning, financial advisors from all 50 states and the District of Columbia urged U.S. Senate leadership to pass the … Continue reading "Financial Advisors from 50 States Urge Senate to Pass SECURE Act"