House Passes Bill Making Big Changes to U.S. Retirement System


The House of Representatives passed legislation that can perchance perchance bring tall changes to the U.S. retirement gadget, making it simpler for employers to present 401(k)-model plans and encompass annuities, which guarantee an annual income, as solutions for physique of workers.

Backed by a bipartisan neighborhood of lawmakers collectively with Obtain. Richard Neal (D., Mass.), chairman of the House Methods and Device Committee, the legislation would repeal the age cap for contributing to old-normal individual retirement accounts, on the 2d 70½. It would also magnify…

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