Recently, Ohio Senator Rob Portman and Maryland Senator Ben Cardin reintroduced the bipartisan Retirement Security and Savings Act in the U.S. Senate. This legislation addresses multiple challenges within the retirement saving system, with the goal of making it easier for people to save for a secure retirement.
Some of the issues the bill addresses include improvements to the Saver's Tax Credit, eventually increasing the age for Required Minimum Distributions (RMDs) for accounts with less than $100,000 and reducing the penalty for non-compliance with RMDs
The ultimate goal of the Senators is to help Americans, specifically the aging population with little to no retirement savings, people with low incomes or those with inadequate retirement savings. You can read more about the legislation
. Ohio DC can help you address these topics with your employees. If you'd like to learn more about what we can do, visit
or call our Service Center at 877.644.6457 to speak to a Retirement Planning Specialist or Account Executive.