Senate HELP Committee Approves First SECURE 2.0 Legislation

A Senate panel voted unanimously to advance bipartisan workplace retirement access legislation that builds on the landmark House-approved bill dubbed SECURE Act 2.0.

The Senate Committee on Health, Education, Labor and Pensions favorably reported the RISE & SHINE Act (S. 4353) to the full Senate Tuesday. The bill would improve retirement coverage for part-time workers and facilitate access to workplace emergency savings accounts.

The measure lacks a requirement that new workers be automatically signed up for retirement savings—breaking with the House’s version of SECURE Act 2.0 (H.R. 2954), which that chamber passed earlier this year.

The ...