Retirement nest eggs are in jeopardy. SAFER Act is the answer
The SAFER Act aims to protect Americans' retirement savings from aggressive state escheatment laws. These laws can lead to the seizure of assets deemed abandoned due to inactivity, jeopardizing long-term investments. The bipartisan bill seeks to establish a uniform national standard for asset ownership until death, addressing concerns over states' redefinition of abandonment.
- ▪Many Americans follow a 'buy and hold' strategy for retirement savings, but state laws can undermine this approach.
- ▪The SAFER Act, introduced by bipartisan lawmakers, aims to protect ownership of securities until death.
- ▪States are increasingly adopting aggressive escheatment laws that can seize assets after minimal inactivity.
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Americans saving for retirement often follow the “buy and hold” strategy, urging them to block out the daily volatility of markets, stick to long-term investment plans, and avoid playing stockbroker. The stock market’s growth over the last 15-20 years proves why that approach makes sense despite financial crises, geopolitical conflict, and fiscal showdowns. However, laws on the books in most states, if not properly reformed, could jeopardize the retirement nest eggs of those who saved and invested in a responsible manner.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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