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House Passes Retirement Bill, Setting Up Senate Action

March 30, 2022, 2:30 PM

The House passed a package of retirement provisions Tuesday with bipartisan support, setting up the Senate to craft its own package.

Senate Finance Committee Chairman Ron Wyden (D-Ore.) and ranking member Mike Crapo (R-Idaho) said numerous senators were interested in passing retirement legislation this year.

“We’re talking amongst ourselves,” said Wyden, who did not give a timeline on when he thought a bill might clear the Senate. “We’ve a lot on our plate,” he said.

The House bill would help small employers offer retirement plans by giving them a tax credit, automatically enroll employees in 401(k) plans while giving them ...