Setting Every Community Up for Retirement Enhancement Act of 2019

Floor Speech

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Mr. BLUMENAUER. Madam Speaker, I appreciate the gentleman's courtesy, and I appreciate his moving forward on the issue of retirement security, for which he has been a tireless champion.

We are facing a retirement crisis in this country. Nearly half of households headed by someone 55 or older lack retirement savings. One of the many reasons they are not saving enough is lack of access to retirement plans. This bill moves in that direction.

I appreciate it is going to increase access to employer retirement plans for people who work in small business and part-time workers.

Of particular interest to me is a provision in this bill that fixes a quirk in the current law that prevents many home care workers from participating in a 401(k) or saving with an individual retirement account, an IRA.

I heard directly from home healthcare workers in Oregon about this problem. I am pleased, working with the committee, we have been able to fix this quirk moving forward. I anticipate this is one of many bills that will be moving forward dealing with retirement security in America, and I look forward to that progress.

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