February 07, 2022

Fred Reish Comments on Retirement Access Legislation With Bloomberg Law

Benefits and executive compensation partner Fred Reish spoke to Bloomberg Law about retirement access legislation, including a mandate for workplace retirement plans and a refundable tax credit.

The publication explained how bills introduced in the last legislative session would have required 401(k)-style retirement plans to automatically enroll new hires or forced employers who did not already offer retirement plans to do so. However, a one-size-fits-all approach to retirement savings has drawn ire among some practitioners and could make for a tough sell in the Senate, said Reish.

Bloomberg Law also discussed a refundable saver’s credit that would act as a match to yearly contributions. Reish noted, “Those credits are so substantial that they could also be a game changer in terms of encouraging the formation of new plans.”

The full article is available for Bloomberg Law subscribers.

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