Sens. Restart Bipartisan Push For Retirement Plan Access

By Alexis Shanes (May 21, 2021, 4:47 PM EDT) -- A revived retirement bill floated in the U.S. Senate would target people who have saved too little or who don't have access to retirement plans, in addition to offering new incentives for small businesses, the bipartisan measure's sponsors said Friday.

Provisions in the Retirement Security and Savings Act, reintroduced Thursday by Sens. Ben Cardin, D-Md., and Rob Portman, R-Ohio, include increased limits on catch-up contributions to retirement plans and eased 401(k) eligibility requirements for some part-time workers. The bill, S. 1770, would also add flexibility to when and how savers' must start withdrawing from their retirement funds.

"Americans need to save...

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