What Secure Act 2.0 wouldn’t do - Forbes Advisor
As we wait for the U.S. Senate to pass The Securing a Strong Retirement Act, known as the Secure Act 2.0, it is time to review what this bill is trying to accomplish and what it is not. “The Secure Act 2.0 goals are: Get people to save more, improve the retirement rules, and lower costs for employers to set up retirement plans.” All things to improve the average American’s retirement readiness; however, it does not address one of the most important sources of retirement for most Americans: Social Security. Taylor Tepper outlines the three main goals of The Secure Act 2.0 and points out the two areas of retirement reform that Congress should focus on. Read Mr. Tepper’s article here…
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own research. One component is Social Security PLUS, a voluntary plan to allow all earners to have more income at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.
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