7 (Polite) Life and Annuity Player Whoops of Joy for the Return of the Secure Act
December 18, 2019 by Allison Bell
Members of Congress could approve a mammoth spending bill that includes a Secure Act section this week — and life and annuity groups are rejoicing.
The “Setting Every Community Up for Retirement Enhancement Act of 2019″ legislation could do everything from creating new and better tax credits for small employers that set up retirement plans, to providing some protection against lawsuits for employers who build annuitization options into 401(k) plans.
House leaders have put the Secure Act in Division O of House Resolution 1865. H.R. 1865 is the wrapper for the “Consolidated Appropriations Act, 2020″ (CAA 2020) bill.
Congress has to pass H.R. 1865, or some similar bill, this week to keep much of the federal government from shutting down Friday.
House leaders plan to bring H.R. 1865 to the House floor today.
Ted Godbout and Andrew Remo of the National Association of Plan Advisors say Senate leaders could bring the legislation to the Senate floor as early as Wednesday.