Why aren’t more Americans saving enough for retirement? The Senate Health, Education, Labor and Pensions Committee is examining that question. The committee points to a General Accountability Office report that found some companies offered workers lump-sum buyouts without providing them with information needed to make good decisions. Another report said that nearly 40% of 401(k) plan participants don’t understand plan fees. Also, many workers forget their retirement accounts when they leave a job. Several Congressional bills address these issues, including the Securing a Strong Retirement Act of 2022 (Secure 2.0), which passed the House on March 29. To read the bill: https://bit.ly/3tOT8dZ
