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The proposal creates a mandatory automatic enrollment individual retirement account program for employers that do not offer a retirement plan and employ at least five people.
Sources say the House Ways and Means Committee will likely vote to advance the Securing a Strong Retirement Act of 2021, often called a follow-up to the SECURE Act, as soon as tomorrow afternoon.
It also provides a way for retirement plan sponsors to avoid a partial plan termination.
The markup hearing, punctuated by a unanimous vote to advance the legislation, demonstrated that retirement security issues are capable of bringing together members of Congress who don’t agree on much else.
Investments
| Largest Funds in this Plan | Allocation of Assets | 1 YR Rank in Category |
|---|---|---|
| Total Guaranteed Investment Contracts | 17% | |
| IBM Mutual Fund Window | 12% | |
| Vanguard Employee Benefit Index Fund | 12% | |
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IBM 401k plan still the largest, and one of the best
IBM sponsors the largest private defined contribution plan in the United States, which is widely regarded as excellent. Its DC plan features a matching contribution, an automatic company contribution, and immediate vesting. BrightScope rates IBM’s plan near the top of its peer group, and in 2014 IBM
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