Questions remain as to the language—or lack of language—in the SECURE Act that would allow existing retirement plan service providers to be fiduciary sponsors of Open MEPs, according to Phil Waldeck, president of Prudential Retirement. (Photo: Shutterstock)
The nearly unanimous vote to pass the SECURE Act out of the U.S. House of Representatives has industry stakeholders optimistic that the largest retirement bill in more than a decade will ultimately be signed into law.
Last week, the Senate attempted to “hotline” the bill, which would have effectively moved the SECURE Act to a unanimous consent vote in the upper chamber.
That effort was driven by the overwhelming bipartisan support for the bill in the House, explained Jeanne de Cervens, vice president and director of federal government relations at Transamerica.
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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.
