Looking Back and Stepping Forward
Giving You a Platform
We learned a lot last year. Americans observed social, political, and financial shifts. Entering 2021, we are more experienced and prepared for whatever is next. Our community initiative launched in July 2020 with a mission to give everyone a platform to speak their mind about financial security at all levels of government. Here is what we discussed over the last few months.
Financial Security and COVID-19
The impact of COVID-19 changed how we approach job security and financial protection. It also intensified the challenges and savings gaps faced by women and caregivers. We had a conversation with Congresswoman Gwen Moore and community experts to learn about those gaps and what can be done about to close them.
The full conversation is available here.
Federal and state policies should help people plan for income that lasts through retirement. A big win for savers was The SECURE Act, a bipartisan effort signed into law in 2019 that makes it easier for small business employees to access retirement savings. We met (virtually) with House Ways & Means Committee Chairman Richie Neal (D-Mass.) and Ranking Member Kevin Brady (R-Texas). As leaders working across party lines for better access to retirement security, they discussed savings during COVID-19 and their next steps to help savers.
If we should know one thing going into a new year, it is the scope for financial protection goes beyond 401(k)s and life insurance policies. Paid medical leave, supplemental benefits and educational savings are just a few examples of tools that provide important protections. Our 2021 priority, we will be paying attention to policies that impact every person’s financial future.
The Best Interest standard, for example, was enacted by the Securities and Exchange Commission to expand protections for consumers by making it easier for middle market investors to understand what they are signing on to.
The movement to help protect financial futures is just beginning. We welcome the new Congress and new Administration, and we are ready for action on financial policy.
Sign up for Protecting Every Future and stay in the know about legislation that could impact your savings. As an advocate, you will get first-round access to all of our conversations with policymakers and community leaders through our Kitchen Table Conversation Series. Register here!