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Kelly's bill aims to make retirement saving easier

WASHINGTON — Numerous organizations around the county have offered support for a bill recently introduced by Rep. Mike Kelly, R-3rd, that aims to make retirement savings easier.

The Retirement Enhancement and Savings Act of 2018, or RESA, was introduced by Kelly last Wednesday and has been referred to the House Ways and Means Committee.

“RESA would expand opportunities for workers to save through workplace retirement plans and go a long way toward helping families overcome the obstacles they face in properly preparing for their future. This is about helping every American enjoy full retirement security and peace of mind in the years when they deserve it most,” Kelly said in a statement.

Organizations that have publicly endorsed the bill include AARP, American Council of Life Insurers, American Retirement Association, Bipartisan Policy Center, Hispanic Leadership Fund, Insured Retirement Institute, Society for Human Resource Management, Financial Services Roundtable and Hawkeye Insurance Association.

RESA includes provisions intended to encourage employers to offer retirement plans with automatic enrollment and adequate deferral amounts, according to a statement from AARP.

The bill has bipartisan support. Rep. Ron Kind, D-Wis., is its co-sponsor. A Senate companion to the bill was introduced earlier this month by Orrin Hatch, R-Utah, and ranking member Ron Wyden, D-Ore.

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