As a financial advisor, I help people every day who are worried about preparing for retirement. They are worried they haven’t saved enough. They are worried about running out of money during a retirement that could last 20 years, 30 years or longer.
Advisors can often help, but now more help is on the way. U.S. Senator Chuck Grassley, R-Iowa, along with Senator Ron Wyden, D-Oregon, has introduced the Retirement Enhancement and Savings Act (RESA) that will help retirement savers in Iowa and across the country.
The bill will provide many more workers in Iowa and 700,000 more workers nationwide with access to a 401(k) or IRA. It also expands access to annuities that, like a traditional pension, can guarantee a stream of lifetime income.
Senators Grassley and Wyden deserve praise for introducing legislation that will help retirement savers in Iowa and across the county. Congress needs to pass RESA.