AALU Endorses Retirement Savings Legislation

AALU Letter of Support for SECURE Act

April 1, 2019

The Honorable Richard Neal
Chairman, Ways and Means Committee
U.S. House of Representatives
Washington, D.C. 20515

The Honorable Ron Kind
U.S. House of Representatives
Washington, D.C. 20515

The Honorable Kevin Brady
Ranking Member, Ways and Means Committee
U.S. House of Representatives
Washington, D.C. 20515

The Honorable Mike Kelly
U.S. House of Representatives
Washington, D.C. 20515

Dear Chairman Neal, Ranking Member Brady, Mr. Kind, and Mr. Kelly:

Thank you for your diligence and leadership in working in a bipartisan fashion to improve the retirement savings tools for American families and businesses. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act, H.R. 1994) and the Providing Retirement Security to Workers in Small Businesses, Cooperatives, and Service Organizations Act of 2019 (H.R. 1993) are important bills that will help millions of Americans increase their financial security.

Americans are not saving enough for retirement. We can do more to help them. Both the SECURE Act and H.R. 1993 would make it easier for employers to offer workplace retirement plans, especially for small businesses, and expand American workers' ability to participate in those plans. In addition, this legislation would increase access to lifetime income solutions and help employees better understand how their savings will translate into a stream of income to live the life they want during retirement.

Since 1957, AALU has been the leading organization of financial professionals who provide life insurance and retirement planning solutions for individuals, families, and businesses. The mission shared by our more than 4,000 members nationwide is to promote the financial and retirement security of the American people.

AALU strongly supports H.R. 1994 and H.R. 1993 and encourages all members of the Committee on Ways and Means to vote in favor of both bills.

Thank you again for your work to enhance the retirement security of all Americans. AALU is committed to supporting initiatives that encourage long-term savings, and we look forward to continuing our work with you on those critical goals.

Sincerely,

Marc Cadin
CEO
AALU

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