Americans are living longer than ever before. Many may spend decades out of the workplace in retirement. That puts even greater urgency on building an adequate nest egg to last and accommodate a lifestyle people grow accustomed to while still in the workforce.
From a senior position on the tax-writing Senate Finance Committee, which has jurisdiction over Social Security, Medicare and Medicaid, Grassley has worked for the last 25 years in the U.S. Senate on issues affecting retirement security. During his chairmanship of the Senate Special Committee on Aging, he also led efforts to improve enforcement of nursing home standards for the nation’s most vulnerable elderly, provide resources to family caregivers, and root out waste, fraud and abuse in Medicare spending.
Senator Grassley says it will take bipartisan leadership to address the looming deficits in Social Security. He has called Social Security the most successful social program ever and is committed to making it financially sound for future generations. He also authored a landmark bill in 2006 to protect employee pension plans from Enron-type corporate malfeasance and shore up the nation’s pension system for workers. The law also dramatically expanded retirement savings tax initiatives, including IRA contribution limits, and enhanced vesting and portability.
Senator Grassley tells Iowans the hardest dollar to save is the first. It’s never too early to start saving for retirement.