The Retirement Enhancement and Savings Act placed on the Senate’s legislative calendar by Sen. Hatch

The Retirement Enhancement and Savings Act (RESA, S. 3471), which would amend the Internal Revenue Code to encourage retirement savings, was placed on the Senate’s legislative calendar by Sen. Orrin Hatch (R-Utah) on Nov. 16. RESA contains provisions that address multiple employer plans and pooled employer plans (PEPs). The Bill also provides that one ERISA-mandated plan participant statement per year include a lifetime income disclosure and modifications to IRA rules to allow workers to contribute to an IRA past the age of 70½. See a brief description of the Bill here.