Rep. Ron Kind, D-Wis., plans to reintroduce legislation Wednesday intended to increase retirement savings for American workers through the employer-based system, according to industry sources. Rep. Mike Kelly, R-Pa., is expected to co-sponsor the legislation.
The bill, a reintroduction of last year’s Retirement Enhancement and Savings Act, or RESA, H.R. 5282, introduced by Kind and Kelly, first advanced in 2016.
In the Senate, last year’s companion bill, S. 2526, was referred to the Senate Finance Committee. However, provisions of the legislation were included in the Family Savings Act of 2018, also introduced by Kelly, which passed the House last year.
The House Ways and Means Committee is poised to conduct a hearing Wednesday morning on improving retirement security for workers. Both Kind and Kelly are members of the committee.