Industry & Regulatory NewsSenate Finance Proposal Includes ABLE Age Adjustment
The Enhancing American Retirement Now (EARN) Act, which cleared the Senate Finance Committee and heads to the full Senate for consideration, includes a proposal by Senator Bob Casey (D-PA) to modify the “eligible individual” definition for purposes of a qualified ABLE program. Under the proposal, an individual may be an eligible individual if entitled to benefits based on blindness or disability, and such blindness or disability occurred before the date on which the individual attains the age of 46 (the current age is 26). It is estimated that the change in age would allow over 6 million additional people with disabilities to save with ABLE accounts.
Industry & Regulatory NewsEncouraging Americans to Save Act Introduced in Senate
Senate Finance Committee Chair Ron Wyden (D-OR) and six other Democratic Senators have introduced the Encouraging Americans to Save Act (EASA).
The legislation is similar to past proposals introduced by Senator Wyden and other co-sponsors and includes the following.