Washington, D.C., December 17, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which was included in the omnibus appropriations bill passed by the U.S. House today:

“SIFMA applauds House passage of the bipartisan SECURE Act 2019, which will enable even more Americans to participate in our retirement system and better prepare for a secure retirement. This legislation takes important steps toward enhancing the private retirement system, including commonsense provisions that would encourage small businesses to offer retirement savings plans and encourage individuals to utilize the options that are available to enjoy retirement security. These changes expand the availability of employer-sponsored savings plans, offer encouragement for employees to participate in a plan, and expand the use of critical tax incentives. SIFMA appreciates the bipartisan attention paid to this important issue and looks forward to Senate passage of the bill later this week.”

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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 for 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