ABA, trade groups support retirement legislation

The American Bankers Association this week joined a coalition of financial, insurance and employment trade groups in a letter supporting S. 4353, the bipartisan Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act, or the Rise and Shine Act. The bill would increase access to retirement plans and streamline retirement disclosure and notice obligations.

In a letter to Senate Health, Education, Labor and Pensions Committee Chair Patty Murray (D-Wash.) and Ranking Member Richard Burr (R-N.C.), the groups noted that “we look forward to working with the committee on the Rise and Shine Act and integrating it into a holistic, bipartisan retirement security package.”

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