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Financial advisors urge lawmakers to promote retirement savings policies

They say two bills before Congress would help

Updated:

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By:
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Mark Huffman
Reporter

Mark Huffman has covered consumer issues since 2004, with a special focus on protecting and empowering older adults. A former news correspondent for the Associated Press Radio Network, Westwood One, and ConsumerAffairs, Mark brings decades of journalistic experience to RetirementLiving.com. He is passionate about giving consumers a voice and helping them make informed decisions. Mark has also created educational content, including Senior Scam Alert, a video resource designed to help seniors recognize and avoid fraud. He holds a B.A. from the University of Kentucky and lives with his family in Richmond, Virginia.
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Key Insights

  • Edward Jones advisor urges Congress to expand early-savings opportunities
  • Williams praises bipartisan retirement-security efforts, backs two new bills
  • Testimony highlights gaps facing young workers, small businesses, and caregivers

Edward Jones Financial Advisor Chad Williams appeared before the U.S. Senate Committee on Health, Education, Labor, and Pensions (HELP) to advocate for policies that help Americans start saving earlier and stay engaged in their financial futures. 

The hearing, focused on the future of retirement and expanding access to savings opportunities, brought industry voices to Capitol Hill as lawmakers evaluate next steps in strengthening the nation’s retirement system.

During his testimony, Williams commended the Committee for its history of bipartisan action on retirement issues, noting that recent legislative achievements have already helped broaden access to workplace savings plans. But he emphasized that many Americans — particularly young workers, employees at small businesses, and caregivers — still face barriers to building long-term financial security.

Williams voiced Edward Jones’ strong support for two new bipartisan proposals from Chairman Bill Cassidy (R-LA) and Senator Tim Kaine (D-VA):

  • the Auto Reenroll Act, and
  • the Helping Young Americans Save for Retirement Act.

“Both bills would enable savers to save earlier and more,” Williams said. 

Automatic reenrollment, he explained, is particularly effective for young employees who may have opted out of a plan early in their careers and need a nudge to begin saving. He characterized the legislation as part of a “proud tradition of bipartisanship in shaping a better tomorrow and enhanced retirement security for workers.”

Addressing gaps for workers most at risk

Despite national progress in expanding retirement access, Williams noted that significant gaps remain. He urged Congress to continue advancing policies that:

  • Increase participation through automatic re-enrollment,
  • Allow workers to begin saving sooner,
  • Support caregivers who often step away from the workforce, and
  • Expand retirement plan access for employees at small businesses, who are among the least likely to have employer-sponsored options.

Financial education as a catalyst

Drawing on his experience advising families and small business owners, Williams told lawmakers that many Americans want to make sound financial decisions but are unsure where to start. 

“These conversations make it clear how financial education combined with public policy can change behaviors,” he said.