Where the exhaustive House Ways & Means Committee hearing was long on data points across diverse issues, it was refreshingly short on demagoguery. Here are some highlights from the discussion on Social Security reform. (Photo: Mike Scarcella/ALM)
A four-hour hearing on retirement income security before the full House Ways and Means Committee broadly focused on options for making Social Security actuarially sound, expanding savings vehicles in the private sector retirement system, and rescuing the roughly 130 collectively bargained multiemployer pension plans that face impending insolvency.
For retirees and their advocates, private sector retirement industry stakeholders, and policy experts across the ideological spectrum who fear retirement reforms may not be prioritized under divided government, the hearing was a strong start. As was noted by Rep. Earl Blumenauer, D-OR, it was “the first real” hearing held by the Ways and Means Committee in the 116th Congress.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
