by KARI BLURTON
Hays Post

Hays financial adviser Jeff Seibel of Edward Jones is in Washington this week to meet with state congressional representatives and Sens. Jerry Moran and Pat Roberts to discuss upcoming legislation that will make it easier for small businesses to implement 401(k) plans.

Seibel said the SAFE Act (S 1270), sponsored by Senate Finance Chairman Orrin Hatch, R-Utah, is a “simplified” retirement plan the allows 32 million Americans who don’t already have a plan at work a better opportunity to start investing.

“It’s really a problem that in smaller firms — employers with less than 100 people — half of those companies do not have a retirement plan at work where employers can participate so they are left on their own savings,” Seibel said, adding the simplified 401(k) makes the administration easier for smaller companies so more employers are more likely to offer the plan.

Seibel said the bill is enjoying broad support.

“Kansas is a state where people are self-reliant, and our representatives and our senators understand that people need to save for themselves and not rely on the government for their retirement,” he said.

Seibel is one of 50 financial advisers from across the United States meeting with legislators from their home state.