House Passes Secure 2.0, Includes Rep. Estes Priorities

Statement

Rep. Ron Estes (R--Kansas) joined his Ways and Means colleagues on the House floor during debate of the bipartisan SECURE 2.0. Rep. Estes was instrumental in passing the SECURE Act in 2019 and building the framework for SECURE 2.0.

SECURE 2.0 includes legislation Rep. Estes helped introduce that improves the required minimum distribution rules and another that allows employers to match retirement contributions when their employees are making student loan payments.

"Since my time as Kansas State Treasurer and as a member of the Ways and Means Committee, increased retirement security for Americans of all ages has been a major policy priority for me," said Rep. Estes.

"Building on our great success with the SECURE Act in 2019, Secure 2.0 includes a number of provisions for new employees and near-retirees."

The House passed H.R. 2954 -- the Securing a Strong Retirement Act of 2021, better known as SECURE 2.0 -- by a vote of 414 to 5.

Along with introduced legislation, Rep. Estes cosponsored legislation that allows the retirement plans of teachers and church employees to have greater investment options and legislation that enhances the ability of small businesses to offer retirement accounts for employees.

As a member of the Ways and Means Committee that has jurisdiction over retirement security, Rep. Estes has prioritized increasing retirement security for Americans of all ages.

Watch Rep. Estes' Remarks

Full Remarks:

Madam Speaker, today I rise in support for SECURE 2.0.

Since my time as Kansas State Treasurer and as a member of the Ways and Means Committee, increased retirement security for Americans of all ages has been a major policy priority for me.

Building on our great success with the SECURE Act in 2019, Secure 2.0 includes a number of provisions for new employees and near-retirees, like my bill to improve the required minimum distribution rules and my bill that would make it easier for employees to save for retirement and pay off their student loans.

Employees who are part of an employee stock ownership plan -- like the Kansas workers I've talked to at Inland Truck Parts, Conco, and others -- benefit from bipartisan ESOP provisions in SECURE 2.0.

The bill also ensures public sector and non-profit retirement programs have the same access to low-cost retirements just like for-profit plans. And it allows individuals who have to decide to pay down a student loan instead of contributing to a 401(k) plan can still receive an employer match for their retirement plan.

These common sense retirement security reforms deserve to be law, and I strongly encourage my colleagues to vote yes on SECURE 2.0. Thank you, and I yield back.

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