CONGRESSMAN JOE MORELLE VOTES TO HELP AMERICANS SAVE FOR RETIREMENT
(Washington, DC) – Today, Congressman Joe Morelle voted in favor of comprehensive, bipartisan legislation that helps more Americans retire with financial piece of mind. The SECURE Act closes loopholes and makes it easier for small business employees, home health care workers, and long-term part-time workers to save for retirement, going a long way in addressing our national retirement income crisis.
“After a lifetime of hard work, Americans deserve to have financial peace of mind when they retire. But for too many members of our community, that security is simply out of reach,” said Rep. Morelle. “We must do everything we can to support our neighbors as they age, and that is why I’m so proud to cast my vote in favor of this legislation to help families plan for the future.”
One-third of American workers believe they will either face significant financial hardship during retirement or will never retire – and almost two-thirds of workers have no retirement account assets. Many are in danger of not having enough in retirement to maintain their standard of living and, consequently, fall into poverty.
The SECURE Act aims to prevent this by:
- Making it easier for small businesses to offer retirement plans to their employees by eliminating outdated barriers to Multiple Employer Plans;
- Ensuring home health care workers can receive retirement benefits
- Eliminating unfair tax hikes on children in Gold Star families
- Allowing long-term, part-time workers to participate in company 401(k) plans