The Secure Act 2.0 is inching closer to the finish line. The Senate’s Health, Education, Labor and Pensions (HELP) Committee recently released a legislative draft ingeniously titled “Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act” (RISE and SHINE Act). This is the Senate’s version of the U.S. House’s Secure Act 2.0 passed in March. The RISE and SHINE Act aims to enhance retirement savings and improve access to employer-sponsored accounts. If the bill passes in the Senate, it’ll have to be reconciled with the House version before heading to President Biden’s desk. Stay tuned.
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