WASHINGTON - May 23, 2019 – Roger W. Ferguson, Jr., president and CEO of TIAA, released the following statement regarding the House of Representatives’ passage of the Setting Every Community Up for Retirement (SECURE) Act:
"TIAA applauds the House of Representatives for bipartisan passage of the SECURE Act, a significant step toward advancing much-needed modernization of the American retirement system.
“If signed into law, this legislation will holistically improve the retirement landscape for millions of retirees now and in the future. It will ensure that retirement plans cover more Americans and that they can save enough in such plans to fund sufficiently their retirement. Critically, it will improve access to guaranteed lifetime income solutions in employer-sponsored retirement plans – helping more Americans guard against outliving their savings – at a time when many are living longer in retirement and stretching the social safety net.
“TIAA is especially grateful for the leadership of Ways and Means Chairman Richard Neal and Ranking Member Kevin Brady for making this important legislation a reality. We urge the Senate to sustain momentum and take prompt action to help more Americans realize a financially secure retirement.”
“TIAA is especially grateful for the leadership of Ways and Means Chairman Richard Neal and Ranking Member Kevin Brady for making this important legislation a reality. We urge the Senate to sustain momentum and take prompt action to help more Americans realize a financially secure retirement.”
About TIAA
With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1 trillion in assets under management (as of 3/31/20192) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.