September 21, 2016

Cardin Lauds Pension Bills Cleared by Finance Committee

“There are always ways that we can help American workers retire with economic security and dignity”

WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee, praised that Committee’s action Wednesday on two important pension-related measures: a bill protecting the health and pension plans of the United Mine Workers of America, and a bill of bipartisan private retirement measures.

“I have spent most of my career working on savings issues, particularly retirement savings issues.  Despite the progress that has been made in the retirement savings area, there are always ways that we can help American workers retire with economic security and dignity. The two bills reported by the Finance Committee are emblematic of those goals. Both bills include much-needed improvements to shore up critical aspects of our system—including bipartisan amendments that I led or cosponsored on closed- or frozen-defined benefit plans, church plans, and S Corporation IRAs.  All these amendments, and the other provision in both bills, mean a great deal to the companies and participants that they benefit, and I am gratified that the Finance Committee has taken action on them.”

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