60 Plus Association Endorses Retirement Savings Act

Statement By 60 Plus Association President Jim Martin

Arlington, VA – “U.S. Congressman Sam Johnson (R-TX) has introduced legislation to make life easier for senior citizens and all Americans interested in planning more effectively for all-important retirement savings.

The 60 Plus Association, with more than1,500 seniors in Congressman Johnson’s district, lauds Johnson for this action.

Introducing legislation (H.R. 4714) regarding RSAs or Retirement Savings Accounts is a wonderful idea whose time has surely come.

RSAs will be used exclusively for retirement savings. They will consolidate traditional IRAs, nondeductible IRAs and Roth IRAs in an effort to simplify a confusing array of rules regarding eligibility and tax treatment. This legislation sounds like a winner to us!

If RSAs mean the average American will save more — and save more wisely — for retirement, if they will simplify retirement saving processes, how, I ask, can we go wrong? Today’s seniors know only too well what effective planning for the future can mean to a wholesome enjoyment of the so-called golden years.

Thus, on behalf of nearly 5 million senior citizens that 60 Plus relies on all across the country, I congratulate Congressman Johnson for his efforts. Seniors surely have a friend in Sam Johnson.”

U.S. Senator Craig Thomas (R-WY) plans companion legislation for the Senate.