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Legislation
A fierce and powerful Democrat will be joining one of the Senate’s most powerful committees.
On Feb. 2, Sen. Ron Wyden (D-OR), who is the new, incoming chairman of the Senate Finance Committee, announced that Sen. Elizabeth Warren (D-MA) will join the Committee in the 117th Congress.
“I’m...
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Another state legislature is moving forward with a state-run retirement savings program for private sector employees.
The Virginia House of Delegates on Jan. 26 voted 56-44 to approve House Bill 2174, establishing the “VirginiaSaves” retirement savings program to allow private sector employees...
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On Jan. 25, the Senate confirmed one of President Biden’s top economic advisors, and a key Republican senator who has been a champion of retirement policy announced his intent to retire.
Janet Yellen was approved by the Senate in an 84-15 vote, becoming the first woman to lead the department in...
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Along with the swearing in of President Joe Biden this week, three new senators were sworn in as well, swinging control of the Senate to the Democrats, along with the ability to control the agenda.
Newly elected Democrats Raphael Warnock and Jon Ossoff were officially sworn in Jan. 20, following...
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Efforts to address the funding crisis facing multiemployer pension plans, as well as provide single employer funding relief, just got a big boost from a key member of Congress.
House Ways & Means Committee Chairman Richard Neal (D-MA) on Jan. 21 introduced the Emergency Pension Plan Relief...
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Whether in the form of an IRA or 401(k), certain aligning factors suggest that the prospects for gains in the Roth market are strong, according to a recent report.
In the Cerulli Edge—U.S. Retirement Edition, 4Q 2020, which looks at retirement trends for 2021, the firm observes that demographic...
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The digital version of the latest issue of Plan Consultant is now available online.
The cover story is a recap of the 2020 ASPPA All Access virtual conference, delivered online over the course of three weeks in October and November.
The event captured the tenor of our time, presenting...
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The chairman of the House Ways & Means Committee has released a new legislative framework for the 117th Congress that includes an ambitious retirement policy agenda.
In what has long been a priority for him, committee chairman Rep. Richard Neal (D-MA) is calling for implementation of auto-...
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In a year in which uncertainty and confusion reigned supreme, almost overnight our industry packed up and went home one night and opened up for business the next day from… what seemed a zillion different locations.
Most doubtless did so anticipating a short disruption—a couple of weeks, a month...
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The election of the two Georgia Senate Democratic candidates—and the resulting shift in control of the U.S. Senate—could have profound implications for President-elect Joe Biden’s policy agenda—including retirement plans.
The election of Democrats Raphael Warnock and Jon Ossoff brings the party...
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With one of Georgia’s two U.S. Senate races called so far, Democrats are now just one seat away from control of that chamber.
Democrat Raphael Warnock has been projected to win Georgia’s U.S. Senate runoff election against Sen. Kelly Loeffler (R), who was appointed to the seat in December 2019 to...
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There is a lot to unpack in the recently passed COVID relief legislation, but the most significant element for plan sponsors impacted by the COVID-19 pandemic may well be the “temporary rule preventing partial plan termination.” Here’s what it means for you—and your plan sponsor clients.
What is a...
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After a weekend of pundit “drama” worrying about what he’d do (or not), President Trump has signed the controversial $900 billion COVID relief bill, though that may not be the last word on the subject.
“I will sign the Omnibus and COVID package with a strong message that makes clear to Congress...
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Division N – COVID-Related Tax Relief
Sec. 276. – Clarification of tax treatment of forgiveness of covered loans. The provision clarifies that gross income does not include any amount that would otherwise arise from the forgiveness of a Paycheck Protection Program (PPP) loan. This provision also...
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It’s hard to find among the nearly 5,600 pages of text, but there is some important retirement plan relief in the $900 billion COVID stimulus package.
Perhaps the most significant element is a “temporary rule preventing partial plan termination.” The provision, for which the American Retirement...
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A bipartisan trio of U.S. Senators has introduced legislation that would expand Multiple Employer Plan access to 403(b) plans, along with other MEP enhancements.
The Improving Access to Retirement Savings Act—introduced last week by Senate Finance Committee Chairman Chuck Grassley (R-IA) along...
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There’s some great news for plan sponsors in the COVID relief bill—a “temporary rule preventing partial plan termination.”
The legislative text in the massive (nearly 5,600 page) bill includes in Division EE, Section 209 that “temporary rule preventing partial plan termination.” The provision, for...
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A new bill introduced in the U.S. Senate seeks to expand the impact of the Saver’s Credit and restore the myRA program eliminated by the Trump administration.
The Encouraging Americans to Save Act, introduced by Senate Finance Committee Ranking Member Ron Wyden, D-Ore. along with Sens. Ben Cardin...
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The chances that bipartisan retirement security legislation could be acted on next year got a boost, as the American Retirement Association and witnesses at a Senate hearing urged Congress to act to help Americans save more for retirement.
Expanding the start-up credit for small businesses,...
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Congress faces a government funding deadline, while a bipartisan group of lawmakers push for emergency COVID-19 relief, but it’s not clear whether there will be an opening for retirement relief.
Time is running short, as Congress is facing a Dec. 11 deadline to approve either a catch-all funding...
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