Congress gets serious about retirement saving

Congress gets serious about retirement saving By. "The retirement savings system that we have is actually very good but it can be improved," said Bob Grohowski, head of legislative and.

You can expect more details on President Trump’s tax plan this week, but it’s not too soon to let your lawmakers know that 401(k) deductions are an important component of your retirement savings.

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It was hurried to the floor during a lame-duck Congress weeks after Republicans were routed from their twelve-year congressional majority in the 2006 midterms. Committee leaders told us that the.

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He expected his idea to be an extra benefit, but employers soon started using it in place of a pension, matching a percentage of the money an employee put into retirement savings. Neither Congress nor.

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A new report on retirement security from the Government Accountability Office contains what seems like a stunning finding: 48% of older households have “no retirement savings. it difficult to save.

Congress is getting much more serious about retirement security, proposing bills that would encourage companies to offer new (or better) retirement plans and promote savers to put more away for.

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Along with saving and planning for retirement, Congress is discussing ways to improve Social Security, which is facing insolvency in the next 16 years. If nothing is done, the program will still pay benefits to the elderly and the disabled, but it will be about 80% of what they’re owed .

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at least as serious as the “burden of debt for our grandchildren” that gets so much attention in the media. go disproportionately to high-income earners who least need the government’s help in saving, while. prepared than those nearing retirement now, how can Congress consider raising the retirement.