The Secure Act will head to the Senate, where a similar bill awaits committee action. While the two measures are largely the same, several differences would need to be worked out before the legislation could be finalized and sent to President Trump for his signature.
The Secure Act includes provisions that would make it easier for small businesses to band together to offer 401 plans and eliminate the maximum contribution age on traditional individual retirement accounts .
Some lawmakers and Washington watchers have referred to this legislative effort as a first step in addressing the lack of retirement savings among the nation's workers. Called the Secure Act and backed by both Republicans and Democrats, the measure includes a variety of provisions intended to increase the ranks of savers and the amount they put away.
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