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Legislation

The House Ways & Means Committee has voted to extend a vast array of individual and corporate tax provisions, including special disaster-related rules for use of retirement funds. Disaster Relief Assistance The Committee late June 20 approved the Taxpayer Certainty and Disaster Tax Relief Act... READ MORE
The American Retirement Association, as well as a broad coalition of groups and associations, on June 18 sent a letter to the Senate expressing their support for the Setting Every Community Up for Retirement (SECURE) Act.The House passed the measure on May 23 by an overwhelming margin of 417-3. The... READ MORE
Following a contentious markup session, a key House Committee approved legislation on June 11 that would address the funding problems facing multiemployer pension plans.  The House Education & Labor Committee’s approval of an amended version of the Rehabilitation for Multiemployer Pensions Act... READ MORE
The headline in a recent New York Times piece cautions that “Confusing Options May Be Coming to Your 401(k). It Could Cost You.”   Those “confusing options”? Retirement income. And, ironically, they might undermine support for the most significant piece of pro-retirement legislation in a decade... READ MORE
Following House passage of the bipartisan SECURE Act last month, it looked like the legislation was headed for quick enactment. Since then, however, the realities of the Senate’s legislative process appear to have taken over.    A quick recap from where we last left off: On May 23, the House... READ MORE
Oregon employers that do not comply with the rules of OregonSaves — the Beaver State’s state-sponsored retirement program — will face penalties starting next year. Gov. Kate Brown (D) has signed into law SB 164, a measure which provides that an employer found not to be in compliance will face... READ MORE
For those who thought the notion of a financial transaction tax might be a passing fad, guess again. Presidential aspirant Sen. Bernie Sanders (I-VT) and Rep. Barbara Lee (D-CA) have just introduced the Inclusive Prosperity Act of 2019, along with Sen. Kirsten Gillibrand (D-NY) (also a... READ MORE
UPDATED MAY 24 AT 9:30 A.M. ET One of the most consequential pieces of retirement security legislation in more than a decade has been approved overwhelmingly by the U.S. House of Representatives.    In a May 23 House floor debate that featured much praise and few objections, the Setting Every... READ MORE
The House of Representatives is moving forward with its promise to approve the Setting Every Community Up for Retirement Enhancement (SECURE) Act during the month of May. On May 21, the House approved on a party-line vote the so-called “rule” for the SECURE Act (H.R. 1994) – a key procedural... READ MORE
Bipartisan legislation to create a new federal commission that would study and recommend ways to improve Americans’ retirement security has been reintroduced in the Senate. The Federal Retirement Commission Act, reintroduced May 14 by Sens. Todd Young (R-IN) and Cory Booker (D-NJ), would charge... READ MORE
Changes that don’t have anything to do with retirement might undermine bipartisan support for retirement security legislation. House Majority Leader Steny Hoyer (D-MD) late last month had announced that the House planned to take up the Setting Every Community Up for Retirement Enhancement (SECURE... READ MORE
So is there a retirement crisis or not? House Budget Committee members and experts who testified before the committee on May 15 did not agree. But at least they did concur on one thing: the need to take action to bolster the retirement readiness of those who are not well-prepared. Testifying... READ MORE
Members of the Senate Finance Committee expressed hope May 14 that Congress would move quickly to approve the long-pending Retirement Enhancement and Savings Act (RESA) before moving to the next round of broader retirement savings reforms.  “I’m hoping that the House will send its version of RESA... READ MORE
Picking up where they left off in the last Congress, the bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced their comprehensive “Retirement Security and Savings Act” on May 13.  The 132-page bill includes more than 50 provisions designed to strengthen Americans’... READ MORE
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Sen. Ron Wyden (D-OR), Ranking Member of the... READ MORE
A measure that would create a board to study appropriate approaches to increase retirement savings by private-sector workers in Colorado reached the desk of Gov. Jared Polis (D) on May 13 and awaits his signature.Senate Bill 19-173 calls for the creation of a Colorado Secure Savings Plan Board that... READ MORE
The key Senate committee with jurisdiction over retirement tax policy issues is turning its attention to reviewing proposals that encourage and facilitate retirement savings.  Sen. Charles Grassley (R-IA), Chairman of the Senate Finance Committee, has announced that the Committee will hold a... READ MORE
New proposed legislation could help close the retirement savings coverage gap — and you can help make it a reality. Small business owners face real challenges — costs, administrative burdens, and increased liability for mistakes — in the decision to provide retirement benefits for their workers.... READ MORE
Congress returned  from its two-week spring break with plans to consider bipartisan retirement security legislation to make it easier for businesses to offer retirement plans and for individuals to save for retirement.   House Majority Leader Steny Hoyer (D-MD) reportedly announced in a “Dear... READ MORE
The pressure to live a secure retirement has led to some counterintuitive views about just what will help workers get themselves there.  While 66% of American workers are still planning to supplement their personal savings with income from Social Security, 42% also don’t believe Social Security... READ MORE

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