Larson Supports Bipartisan Bill to Strengthen Retirement Security
Hartford, CT – Today, Rep. John B. Larson (CT-01) cosponsored the Securing a Strong Retirement Act of 2020. This legislation builds on the SECURE Act of 2019 which passed the House last year and was signed into law in December 2019.
“America is in the midst of a retirement crisis. Before COVID-19, only about half of all Americans had retirement savings. The Securing a Strong Retirement Act will help strengthen retirement security across the country by automatically enrolling employees into their company’s 401(k) plan, creating new incentives for small businesses to offer retirement plans, increasing the minimum distribution requirement age from 70 to 75, and increasing tax incentives through the Saver’s Credit for low- and moderate-income taxpayers’ contributions to a retirement plan. I’m proud to cosponsor this legislation today.
“At the same time we must work to strengthen the foundation of every American’s retirement: Social Security. The benefit enhancements included in the Social Security 2100 Act have bipartisan support among Americans. It’s time for Republicans to stand with Democrats and work to strengthen Social Security.”