‘Lost and found’ 401(k) bill resurfaces
But, as with its prior iterations, getting the bill passed might not be easy.
“The short answer is that it is very hard to get anything passed,” Saxon wrote. “It takes a lot of time and effort, particularly when there are other things in Washington, like the pandemic, to deal with.”
The bill is co-sponsored by Sen. Steve Daines, R-Mont., and there is a companion House bill co-sponsored by Rep. Suzanne Bonamici, D-Ore., and Jim Banks, R-Ind.
The retirement services industry has supported the measure, with lobbying groups such as the American Benefits Council, the ERISA Industry Committee, the Pension Rights Center and AARP advocating for it, Warren’s office noted.