SENIOR SECURITY ACT PASSES HOUSE

WASHINGTON, D.C. – The U.S. House of Representatives passed the Senior Security Act of 2025 (HR 1469) to strengthen financial fraud protections for senior citizens. The bill, introduced by Rep. Josh Gottheimer (D-N.J.) and Rep. Ann Wagner (R-Mo.), is strongly supported by the Insured Retirement Institute (IRI) and included in the association’s 2025 Retirement Security Blueprint. The measure passed on a voice vote.

“Increasing protections and resources to combat financial fraud and exploitation is an important objective for IRI and our members,” said Wayne Chopus, President and CEO at IRI. “Our members are on the front lines of this issue and are often the first to notice that a client may be the victim of a financial crime. Our members are committed to protecting older Americans and ensuring that their clients’ hard-earned retirement savings are protected from exploitation and fraud.”

The Senior Security Act would establish an interdivisional task force at the Securities and Exchange Commission (SEC) to investigate the challenges facing investors and provide meaningful recommendations to Congress on potential additional measures that could enhance protections for the most vulnerable older Americans.

Additionally, the bill directs the Government Accountability Office (GAO) to study and report on the economic impact and consequences of elder financial exploitation, helping policymakers better understand the breadth and scope of financial exploitation of elderly Americans on the U.S. economy.

“We are grateful to Rep. Gottheimer and Rep. Wagner for their leadership and commitment on this issue,” Chopus said. “Bipartisan support for this legislation will continue to be critical as it progresses. We look forward to working with Senate sponsors and Senate leadership to move this legislation to the President’s desk as soon as possible.”

# # #

Contact: Dan Zielinski