Bipartisan Retirement Bill Introduced

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retirement plan access

Financial Planning

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Business

Business & Economics

Bipartisan bill would create retirement plans for those with no 401(k)

Summary

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88% Informative

A bipartisan bill introduced in Congress aims to close the gap in retirement savings for rural and low-income workers.

Roughly 69 million workers, 55.5% of the U.S. workforce, lacked access to employer-provided retirement plans.

Financial advisors say 401(k)s are powerful tools for retirement planning, but access to such accounts is disproportionately limited in rural areas.

Annuities and whole life insurance policies can also be useful retirement savings vehicles for clients who lack access to employer-provided accounts, but their use cases are not as broadly applicable as simple investment accounts like an IRA, advisors say. " 401k plans are just one of many ways to save and invest for retirement," said Nancy Listiawan , founder of Vera Wealth in Pasadena , California . "What matters most isn't the specific investment vehicle, but rather your consistent saving habits and discipline over time.".

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Informative language

Neutral language

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formal

Language

English

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not offensive

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not hateful