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Hatch, Wyden reintroduce RESA as omnibus battle looms

The retirement reform bill reduces small employers’ fiduciary liability, simplifies 401(k) safe harbor rules, and much more.

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Washington, D.C. Capitol Building The retirement reform bill reduces small employers’ fiduciary liability, simplifies 401(k) safe harbor rules, and much more. (Photo: Shutterstock)

Sen. Orin Hatch, R-UT, and Sen. Ron Wyden, D-OR, have reintroduced the Retirement Enhancement and Savings Act, a sweeping retirement reform bill first introduced in 2016 that sailed through the Senate Finance Committee on a unanimous vote.

The reemergence of the bipartisan legislation comes two weeks before the March 23 deadline for the $1.3 trillion omnibus spending bill, which would fund the government through the end of fiscal year 2018 and must be passed to avoid a government shutdown.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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