Andy Banducci is the SVP of retirement and compensation policy at The ERISA Industry Committee (ERIC), a nonprofit, Washington, D.C.-based organization that represents the largest employers in the U.S.
State actions on paid leave regularly make it harder for employers to continue providing benefits that exceed the programs they created.
Passing this combination bill before the holiday recess would serve as a rare bipartisan gift to working Americans and large retirement plans.
Proposed legislation would establish rainy day accounts and provide for penalty-free withdrawal from retirement savings for unexpected life events.