Eric Stevenson, President of Nationwide Retirement Solutions, addressed the Senate HELP Committee on Feb. 28, emphasizing the challenges faced by American retirement savers. Stevenson advocated for the adoption of Protected Retirement solutions, stating that they will mark a new era for American retirement saving.

Stevenson pointed out the urgency of the situation, stating, "In a year when more Americans will turn 65 than at any point in history," many retirees are facing uncertainties in their financial future. He highlighted a Nationwide Retirement Institute survey which revealed that a significant number of retirees are considering returning to work due to financial concerns.

Acknowledging the progress made by recent legislation, Stevenson praised the SECURE Act of 2019 and SECURE 2.0 Act of 2022 for facilitating the integration of Protected Retirement solutions into retirement plans. He urged employers to seize the opportunities provided by these legislative changes, such as offering student loan matching and emergency savings provisions for employees.

During his testimony, Stevenson voiced support for various bipartisan bills aimed at enhancing retirement security for American workers. These bills include measures like the Helping Young Americans Save for Retirement Act and the Lifetime Income for Employees Act, which seek to improve retirement savings options and provide financial support for caregivers.

Stevenson's testimony underscored the importance of ensuring a secure retirement for all Americans, urging policymakers and employers to take proactive steps towards implementing innovative solutions in the realm of retirement saving.