While senators remain hopeful that the Setting Every Community Up for Retirement Enhancement (Secure) Act will get passed this year, “we don’t know whether it will finally make it to the finish line,” Sen. Ben Cardin, D-Md., said Wednesday.
Speaking at the AICPA National Tax Conference in Washington, Cardin said that the Secure Act “includes some critically important provisions that affect the ability of some pension plans to be able to continue.”
Cardin told attendees that “there’s a lot that we [lawmakers] should be doing in the area of tax policy, but I’m not sure a lot of this will get done” in 2019.
“A long time ago we agreed to some pension changes under the Secure Act; it was pre-conferenced between the House and Senate and an agreed package was supposed to move very quickly,” Cardin said. “Well, it [Secure] has been stalled now for about a year.”