IRI Recognizes Senators Cardin and Portman for Leadership on Retirement Security Issues
By Cathy Weatherford
Insured Retirement Institute (IRI)
Washington, D.C. – December 11, 2013 – The Insured Retirement Institute (IRI) today honored Sen. Ben Cardin (D-Md.) and Sen. Rob Portman (R-Ohio) as the inaugural recipients of the IRI Champion of Retirement Security Award during an event on Capitol Hill. The award is bestowed upon public policymakers who support and advance policies that enhance retirement security in America.
“Senator Cardin and Senator Portman continue to pursue policies that help Americans save for, plan for and attain financial security during their retirement years,” said Cathy Weatherford, IRI President and CEO. “Their leadership and bipartisan spirit have been essential to promoting retirement savings and financial security for all Americans. We look forward to continuing to work with Senator Cardin and Senator Portman to advance our shared goal of helping Americans achieve a financially secure and dignified retirement.”
Sens. Cardin and Portman have long-been known for their signature retirement security legislation, the Comprehensive Retirement Security and Pension Reform Act, commonly referred to as Portman-Cardin. The bill, enacted as part of the Economic Growth and Tax Relief Reconciliation Act of 2001, increased retirement plan contribution limits, addressed portability issues, and facilitated the expansion of small business retirement plans. More recently they co-sponsored a concurrent resolution in the Senate expressing the sense of the Congress that the current tax incentives for retirement savings provide important benefits to Americans to help them plan for a financially secure retirement.
The awards were presented to Sens. Cardin and Portman by IRI Board Member Michael Falcon, Global Head of Retirement and Managing Director for J.P. Morgan Asset Management.