"Building retirement security is critical to the longevity and strength of our economy," said Rep. LaHood. "Our bipartisan bill will allow for the consolidation of assets, reduce the potential for duplicative fees, and bolster retirement savings for families across the country. As workers face rising costs and burdensome interest rates, Congress should continue to find solutions to help workers build for a comfortable retirement. I am proud to join my Ways and Means colleague, Rep. Sanchez, on this commonsense, bipartisan legislation."

“Nearly 7 million Americans use Roth IRA accounts to save for retirement. As that number continues to grow rapidly across the country, we must ensure workers can roll their savings into designated Roth accounts within a workplace-based retirement plan,” said Congresswoman Linda Sánchez. “I’m proud to co-lead this bipartisan bill with Congressman LaHood so that retirement savers can rollover and boost their retirement savings, ultimately allowing them to enjoy a comfortable retirement in the future.”