SIFMA Statement on Executive Order on Retirement Security

Washington, DC, August 31, 2018 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Executive Order signed today directing the Department of Labor and Department of Treasury to examine policies related to retirement savings:

“We commend the Administration for this important step to increase access to retirement savings plans. Expanding access to programs like open multiple employer plans (MEPS) would allow more small businesses to offer retirement savings plans for their employees and further efforts to close the savings gap. We also support a review of current required minimum distribution (RMD) rules to allow seniors to leave funds in certain retirement accounts longer.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate on legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.