American businesses of every size maintain a long-held commitment to providing voluntary benefits that support the welfare of their workers. As Americans live longer, healthier, and more active lives, retirement security becomes a greater concern—particularly with the uncertainty surrounding government programs like Social Security.
The private employer-provided retirement system has contributed significantly to the retirement needs of millions of seniors. The Chamber and its members are committed to continuing the success of the system and ensuring the long-term retirement security of Americans.
The multiemployer pension plan crisis threatens to bankrupt businesses, eliminate jobs, and leave millions of retirees without a pension.
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The Chamber will work with Congress and the administration to expand retirement coverage and security for Americans and ease administrative burdens for employers and plan sponsors.
As the multiemployer pension funding crisis looms, its now up to the Senate to act.
The multiemployer pension funding crisis did not happen overnight, and a solution must be a thoughtful, holistic approach that takes into consideration all aspect of the problem from all interested parties. This is why the U.S. Chamber of Commerce, along with over 100 employers, trades, unions and plans, signed onto a letter to Congressional leadership urging them to take a holistic approach to this problem.
This letter was sent to the United States Senate supporting H.R. 1994, the "Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019."
In a politically divided nation, the Senate has the rare opportunity to pass the SECURE Act to secure Americans' retirement.
Chantel Sheaks, Executive Director of Retirement Policy for the U.S. Chamber of Commerce, provided the following written statement to the 2019 Advisory Council on Employee Welfare and Pension Benefit Plans for the June 25, 2019 meeting titled "Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process."
The Senate need to act on the SECURE Act/RESA to take the first step toward increasing retirement security.
The undersigned organizations, are writing to urge you to pass H.R. 1994, the Setting Every Community Up for Retirement (SECURE) Act.
On June 11, 2019, the U.S. Chamber of Commerce signed a coalition letter along with several additional stakeholders, encouraging Congress to address the growing multiemployer pension plan crisis and offer legislative solutions for all plans.
On May 23, the House voted 417 to 3 in favor of the Setting Every Community Up for Retirement Enhan
This letter was sent to the U.S. House of Representatives, supporting H.R. 1994, the “SECURE Act.”
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