December 19,2019

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Ashley Schapitl (202) 224-4525

Wyden Statement on Senate Passage of the SECURE Act

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in reaction to Senate passage of the SECURE Act

“After years of effort, our legislation to help working families save for retirement will be signed into law. The bill includes a number of important reforms to address the country’s retirement crisis. To allow workers to start saving as early as possible, the bill makes it easier for more employers, particularly small employers, to offer retirement plans. It also requires employers to cover long-term, part-time workers in their 401(k) plans and allows workers to continue to contribute to their IRAs past age 70 1/2. With Americans delaying retirement and increasingly working part-time these changes will allow workers to continue to save. While we must do more to ensure financial security for older Americans, passage of this bill is an important step.”