WASHINGTON, D.C. – U.S. Senator Heidi Heitkamp today introduced bipartisan legislation to help prevent and protect federal government retirees from fraud by creating criminal penalties for financial caretakers who misuse retirement funds.

Just as millions of Americans do, many North Dakotans and individuals across the country work for decades as federal employees to make a living and save for retirement. When they retire, those saved funds and pensions help them support themselves and their families. However, retirees who require a financial representative to help manage these payments – as well as minors and those with mental disabilities who receive needed federal benefits – currently don’t have the protections they need to make sure their payments are handled properly.

Heitkamp, Ranking Member of the Senate Subcommittee which oversees federal workforce issues, introduced the Representative Payee Fraud Prevention Act with Subcommittee Chairman James Lankford (R-OK) that would create criminal penalties for financial representatives who misuse retirement funds. The bill would close a loophole that impacts federal government retirees and their families, protecting them from fraud and other potential financial hardships.

“Many folks in North Dakota and throughout the country dedicate their careers to public service, from reviewing oil and gas drilling applications to catching criminals and keeping our communities safe. Just as so many other Americans do, federal workers rely on their savings and pensions which they worked hard for to retire with dignity,” said Heitkamp. “Most financial caregivers are loved ones who selflessly step in to manage the finances for retirees who are unable to do so, but we have heard about a few bad actors who are stealing that money from retirees. Such harsh actions deserve harsh punishments. Our bipartisan bill would help deter these activities by imposing criminal penalties on financial caregivers who prey on some of our most vulnerable federal retirees and beneficiaries. By taking this commonsense step, we can provide needed protections for these individuals and families and make sure they are treated with the respect and care they deserve.”

Heitkamp has led efforts to improve the effectiveness and efficiency of the federal government, working across the aisle to support and protect consumers and small business in North Dakota and across the country. In March, Heitkamp and Lankford launched their #CutRedTape Initiative to gather stories about how federal regulations are impacting Americans across the country every day, and work to improve these regulations by reducing waste, stopping backlogs, and cutting red tape.