Sens. Rob Portman (R-Ohio) and Ben Cardin (D-Md.) yesterday rolled out a bipartisan bill aimed at reforming the retirement system as lawmakers eye sweeping changes to the plans, The Hill reported. The bill from Portman and Cardin, both members of the Senate Finance Committee, includes a number of provisions in four areas: allowing people who haven't saved enough money to set more money aside for their retirement, making it easier for small businesses to offer retirement plans, expanding access to retirement plans for low-income people and providing more flexibility for retirees. One of the measure's provisions would allow companies to make matching contributions to their employees' retirement plans if the employees are repaying student loans. That topic was also the subject of legislation that Cardin, Finance Committee ranking member Ron Wyden (D-Ore.) and other Democrats on the panel offered on Monday.
