Setting Every Community Up for Retirement Enhancement Act of 2019

Floor Speech

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Mr. WALBERG. Madam Speaker, I thank my friend from Texas for yielding, and I thank him for his work.

Madam Chairman, I rise today in support of H.R. 1994, the Setting Every Community Up for Retirement Enhancement Act.

I would like to thank Chairman Neal and Ranking Member Brady for their leadership on this important piece of legislation.

For families in my district, putting away enough money for retirement is a constant struggle. Now more than ever, we need policies that empower workers to save more and save earlier for retirement.

I am pleased this legislation includes a provision I coauthored with my colleague from Delaware (Ms. Blunt Rochester). Our bipartisan provision clarifies rules surrounding annuity plans, making it possible for more employers to provide guaranteed lifetime income products as part of their benefits package. Our goal is to remove barriers to saving and give workers a variety of tools so they can choose what option best fits their needs.

Madam Speaker, we have a retirement income crisis in this country, and the SECURE Act will help more Americans retire with dignity and piece of mind. I urge its passage today.

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