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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