Legislation

Colorado is poised to join the states with a state-sponsored retirement savings plan for private sector workers—including a mandate for employers (with more than five employees) that do not currently offer a retirement plan.  The state Senate is considering a bill that would create an IRA-based... READ MORE

New legislation would significantly expand the existing credit to cover the wages and benefits—including 401(k) contributions—of employees of businesses affected by COVID-19 until the pandemic subsides, but the bill does come with some strings attached.   Introduced May 21 by Sen. Mark Warner (D-... READ MORE

We are not quite 60 days past the signing of the CARES Act, legislation that, depending on plan adoption decisions, significantly expanded participant access to their retirement accounts.  Are you seeing an uptick in that activity? Early information from recordkeepers suggests that withdrawal and... READ MORE

The $3 trillion bill which passed May 15 includes retirement provisions advocated by the American Retirement Association. While it has already been declared “dead on arrival” in the Senate, that’s not the end of the story.    The House of Representatives approved the “Health and Economic Recovery... READ MORE

A $3 trillion stimulus bill released by House Democrats includes retirement provisions advocated by the American Retirement Association—and a whole lot more—though its passage is anything but certain.   The mammoth 1,800-page bill runs the gamut from providing nearly $1 trillion to state and... READ MORE

The IRS has provided questions and answers concerning the provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act and how they apply to and affect retirement plans and IRAs. Specifically, the May 4 Q&As concern Section 2202 of the CARES Act, which provides for special... READ MORE

Recent guidance clarifies that retirement contributions for unincorporated sole proprietors are excluded from payroll costs in calculating the maximum loan amount under the Paycheck Protection Program (PPP)—and so can’t be forgiven under the terms of that program. Specifically, the Small Business... READ MORE

ASPPA provides extensive coverage concerning a host of aspects of the pandemic and its consequences for plan sponsors, administrators, service providers and participants. This includes how developments resulting from it have affected plans and participants, and how they can be addressed; discussion... READ MORE

The CARES Act has greatly expanded American workers' pre-retirement access to their retirement accounts—so, how might it affect their retirement?   There would seem to be plenty of reason for concern—the definition of person(s) affected by, and thus qualified[1] for, this expanded access through... READ MORE