Financial Industry Coalesces Around SECURE 2.0 Retirement Bill

A coalition of more than 60 financial services companies and industry groups is urging Congress to pass a major retirement plan overhaul before the legislation expires in January.

Workplace retirement service providers and money managers such as Empower Retirement, State Street Corp., and Wells Fargo & Co. signed onto a letter to leaders of both parties in the House and Senate Thursday. The organizations said the retirement package dubbed SECURE Act 2.0 would encourage more employers to offer workplace benefits and help ensure retirement savings last a lifetime.

“Americans are living longer, and many fear outliving their savings,” the ...