Would the Enhancing American Retirement Now (EARN) Act Enhance Retirement Equity?

Congress is expected to agree upon major retirement legislation in the coming months. The EARN Act which was developed by the Senate Finance Committee, should be revised to better enhance retirement equity, particularly for the many American workers and their families who are seeking to accumulate sufficient savings to retire comfortably. Three major changes would help achieve this goal: (1) focus retirement incentives more quickly on those with inadequate retirement savings; (2) insure that those seeking to meet their reasonable retirement needs are the ones targeted for incentives; and (3) reduce the incentives for those with savings in excess of their reasonable retirement needs. Congress can and should do more to enhance retirement equity for American workers and their families