Retirement Savings

Helping Americans build long-term savings for retirement is among the most important roles of the U.S. capital markets. Individuals at every income level benefit from access to professional financial advice, diversified investment products, and employer-sponsored savings plans that make long-term financial goals achievable.

U.S. households hold $72.3 trillion in liquid financial assets and $49.6 trillion in retirement assets (2023). As Americans increasingly rely on individually funded retirement plans, such as 401(k)s and IRAs – which now account for more than half of all retirement assets – access to sound advice and smart policy is essential.

By the Numbers

Key Focus Areas

SIFMA is committed to increasing retirement security for all Americans by advancing three key priorities:

Preserve Current Savings Incentives

Tax-advantaged savings programs such as IRAs, SEPs, SIMPLEs, and 401(k) plans are vital tools that help middle-income savers build wealth. SIFMA supports maintaining these incentives to ensure continued participation and growth in retirement savings.

Implement SECURE Act Provisions

The SECURE and SECURE 2.0 Acts represent major progress for America’s retirement system—expanding catch-up contributions, raising the required minimum distribution age, and enabling emergency savings accounts. SIFMA was proud to support these reforms and continues to work with policymakers to ensure effective implementation.

Enhance Financial Education and Advice Access

Financial literacy and access to professional advice are critical to helping Americans plan for retirement. SIFMA supports the SEC’s Regulation Best Interest, which strengthens investor protections while preserving access to guidance. In 2024, SIFMA challenged the Department of Labor’s new fiduciary rule, which we believe would have limited access to advice for retirement savers. The rule is currently stayed, pending court review.

The Bottom Line

Through strong policy, smart incentives, and access to trusted advice, we can encourage Americans to save more, invest wisely, and retire securely.