The recent budget agreement between Congress and the White House has left an important piece of legislation by the wayside: the SECURE Act.

The SECURE Act, which was passed by the House of Representatives in May, is aimed at increasing access to retirement savings plans and improving the retirement security of American workers. Some of the key provisions of the SECURE Act include:

– Allowing small businesses to join together to offer retirement plans to their employees

– Raising the age at which individuals must start taking required minimum distributions (RMDs) from their retirement accounts from 70 ½ to 72

– Allowing long-term, part-time workers to participate in employer-sponsored retirement plans

– Providing relief for certain groups of employees who have been excluded from retirement plan participation in the past

Despite enjoying broad bipartisan support, the SECURE Act has stalled in the Senate since its passage in the House. Many experts believed that the budget agreement, which was signed into law in late December, would provide a vehicle for the SECURE Act to become law. However, the final version of the budget deal did not include any provisions related to retirement savings.

This is a major disappointment for supporters of the SECURE Act, who argue that improving access to retirement plans is a crucial step in addressing the retirement crisis facing many Americans. According to a report from the Government Accountability Office (GAO), nearly half of all households headed by someone 55 or older have no retirement savings at all. This means that millions of Americans are at risk of being unable to afford basic living expenses in retirement.

While the SECURE Act may still be passed in the future, the fact that it was left out of the recent budget agreement is a setback for those who believe that retirement security should be a top priority for lawmakers. As Congress moves forward with its agenda in 2020, it remains to be seen whether retirement savings reform will be a top priority or if the SECURE Act will continue to be left by the wayside.