Senate committee advances retirement bill

The Senate Health, Education, Labor & Pensions Committee last week unanimously approved the Retirement Improvement and Savings Enhancement to Supplement Health Investments for the Nest Egg (“Rise & Shine Act”). The bill would expand workplace savings plans, enhance auto enrollment, and provide for other improvements to retirement plans. The move would include the bill in the Senate’s version of SECURE 2.0, that was passed by the House. The Senate Finance Committee is expected to introduce a final version, which will need to be reconciled with the House bill before being voted on by both chambers.