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Help Secure Passage of the SECURE Act
The SECURE Act (HR 1994) would strengthen the pillars of a dependable and enduring employer-based U.S. retirement system. The bill would create a focus on guaranteed retirement income that cannot be outlived, a generous match to employees’ savings, and a commitment to putting participants’ interests first.

The SECURE Act passed the House in May with a vote of 417-3, but it's currently held up in the Senate!

There are currently three options to move HR 1994 forward.

Option 1: Unanimous Consent

While it has been sitting in the Senate in something like legislative limbo, unanimous consent remains an option—it’s still something that we are working on, and we are talking to all the members who will listen about ways the hold on unanimous consent could be lifted. Currently, the three impeding senators and their concerns are:

  • Ted Cruz has concerns about the 529 college savings plan provisions.
  • Mike Lee has concerns about a provision that provides some relief for small community newspapers.
  • Pat Toomey has primarily voiced concerns about certain technical tax corrections that impacts retailers.

Option 2: Debate

The second path forward is securing floor time for the SECURE Act, meaning the bill would be brought up for a full Senate debate. We are continuing to look at ways this could possibly happen, but of course this is going to be up to Senate Majority Leader Mitch McConnell. He has other priorities, namely all the confirmations he wants to get done. So, not many bills like this are going to be seeing floor time ahead of 2020. 

Option 3: Rider

The third main option, and probably the most realistic at this point, is to see the bill being attached to a broader package, perhaps a must-pass bill tied to the funding of the government. More likely this will not be tied into the continuing resolution deadline that is coming up before Thanksgiving, but will instead be tied to something passed at the end of the year.



 

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