Congress Forms Retirement Caucuses

A bipartisan congressional caucus dedicated to better understanding the country’s retirement landscape has been established.

Rep. Mike Kelly, R-Pennsylvania, and Rep. Richard Neal, D-Massachusetts, filed the paperwork to register the House Retirement Security Caucus last month, saying the group’s primary mission was to help Americans saving more.

“Many Americans are not saving enough for retirement or not saving at all,” wrote the lawmakers in a letter to the Committee on House Administration, which is charged with oversight of the chamber’s day-to-day operations.

“This caucus will heed the concerns of millions of Americans about achieving financial security in their retirement and ensure that federal policies are crafted to make such security as easy to realize as possible,” said Kelly, a member of the Ways and Means subcommittee on Social Security.

Neal also serves on the same subcommittee.

The announcement of the new caucus in the House followed the creation of the Senate Retirement Security Caucus, which is co-chaired by Sen. Rob Portman, R-Ohio, and Sen. Ben Cardin, D-Maryland, both members of the Senate Finance Committee.

The Insured Retirement Institute commended the lawmakers for forming the new coalitions, and called on others House or Senate members with an interest in assuring a secure retirement for all Americans to join.

“The formation of this caucus is a leap forward in focusing the nation’s attention to these issues,” said Cathy Weatherford, CEO of the IRI.