Yesterday, Congressman Brad Wenstrup (R-Ohio) voted in favor of the Securing A Strong Retirement Act of 2022, a bipartisan retirement package designed to help Americans increase their retirement savings and improve long-term financial wellbeing. Congressman Wenstrup and Congressman Jason Crow's (D-Colo.) Military Spouses Retirement Security Act, which helps military families save for retirement by expanding access to employer-sponsored retirement plans, was included in the package.
"Our nation’s military spouses make countless sacrifices in support of our nation’s warfighters. With the military lifestyle often requiring families to continuously move from one location to another, these unsung heroes are often asked to put their own goals on hold. Too often, military spouses cannot remain in a job long enough to fully utilize the financial options available to those with longevity at a business or company,” said Congressman Wenstrup. "Our commonsense, bipartisan bill would help military families alleviate some of the stresses they face by providing them with more financial security and stability.”
"In the Army I saw firsthand that when a soldier serves, the entire family serves. Deployments, training, and relocations can take a big toll on our military families and too often, military spouses have to make sacrifices in their own careers to support their partners’ service – affecting the whole family’s long-term financial security. I’m proud to have passed my and Rep. Wenstrup’s bill today as part of the Securing a Strong Retirement Act. This expansive bipartisan retirement package we passed will help our military families and all hardworking families achieve greater financial security into the future," said Congressman Crow.
The Securing a Strong Retirement Act of 2022 makes it easier for businesses to offer retirement plans for their workers, and it also gives them increased flexibility to tailor these plans to best fit the unique needs of their workers. Additionally, the legislation gives employees and their families more freedom to use their retirement savings as they see fit. This bill now moves to the Senate, where it awaits further consideration. CLICK HERE to read full text of the legislation.
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