Representatives Ron Kind (D-WI) and Mike Kelly (R-PA) have introduced the Retirement Enhancement and Savings Act (RESA) of 2019. Versions of this legislation have been introduced in several sessions of Congress dating back to 2016, including introduction in March of 2018. In the past, this legislation has had broad bipartisan support.
RESA of 2019 includes several provisions affecting retirement, which among other things, would results in the following if enacted.
- Greater ability for employers to participate in multiple-employer plans (MEPs)
- Incentives for plans to offer lifetime income investments
- Liberalized IRA provisions
- Expanded tax credits for establishing retirement plans and implementing automatic enrollment
Watch this ascensus.com News for a detailed analysis on this introduced legislation.