Rep. Estes Statement on Bipartisan Legislation to Strengthen Retirement Security
WASHINGTON – Congressman Ron Estes (R-Kansas) released a statement following the introduction of the bipartisan Securing a Strong Retirement Act of 2020 by the Committee on Ways and Means Ranking Member Kevin Brady (R-Texas) and Chairman Richard E. Neal (D-Massachusetts). Three priorities championed by Rep. Estes are included in this retirement security package.
“Since my time as Kansas State Treasurer and as a member of the Ways and Means Committee, increased retirement security for our seniors has been a major policy priority for me,” said Rep. Estes. “I’m pleased that Ways and Means leadership has worked together to make important reforms to improve retirement for future generations. Included in this package are reforms I’ve championed like raising the required minimum distribution age, improving programs for public servants and non-profits, and making it easier for individuals to pay student loans rather than contributing to retirement plans.”
The Securing a Strong Retirement Act builds on initial reforms in the Setting Every Community Up for Retirement Enhancement Act (SECURE) passed by Congress in May of 2019. Estes recently introduced legislation to raise the required minimum distribution age with Congresswoman Stephanie Murphy (D-Florida), which is included in this package.
Estes was also an original cosponsor of two bills included in this package. First, the Public Service Retirement Fairness Act will ensure public sector and non-profit retirement programs have the same access to low-cost investments as for-profit retirement plans. Finally, the Retirement Parity for Student Loans Act will allow individuals to pay down a student loan instead of contributing to a 401(k) plan and still receive an employer match in their retirement plan.
This bipartisan legislation has received the endorsement of AARP, with the advocacy group saying the bill will “make a number of improvements” to our nation’s retirement systems. Read the full AARP letter here.
The Committee on Ways and Means press release on the Securing a Strong Retirement Act of 2020 can be found here.
A summary of the legislation is available here.
The full text of the legislation is available here.
Ron Estes is a 5th generation Kansan and represents Kansas’ 4th Congressional District in the U.S. House of Representatives. He serves on the House Committee on Ways and Means.