As the retirement bill's chances of passing during the 115th lame duck session waned with the Senate action on Wednesday, a new retirement bill was introduced, giving further indication that retirement policy will be prioritized in the next session of Congress in 2019. (Photo: Shutterstock)
Update: After this article went to press, the House voted to pass a continuing resolution that includes the Retirement Security & Savings Act by a 217-185 margin. The CR also includes $5.7 billion for border security, making it unlikely it will reach the 60-vote threshold needed to pass out of the Senate.
Sweeping reforms to the U.S. private-sector retirement system will not be included in the Continuing Resolution Congress is currently debating to fully fund the federal government until February 8, according to sources familiar with the negotiations.
“Sadly, it looks like Congress will do a CR into February without any retirement legislation,” said Geoff Manville, a principal on the government relations team at Mercer, in an email. “We do expect RESA provisions to be back in play next year, but this is a disappointment.”
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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.
