Legislation

Having moved to unwind the Obama administration’s safe harbor exempting municipalities’ auto-IRA programs from ERISA, it now looks as though the state-run program version will meet the same fate.On May 3 the Senate passed H.J.Res. 66 by a vote of 50-49, echoing action taken by the House of... READ MORE

In a White House blog entry posted late on April 26, National Economic Council Director and chief economic advisor to President Trump Gary Cohn reiterated his earlier comments that retirement savings will be protected as tax reform proceeds. In the entry, “President Trump Proposed a Massive Tax Cut... READ MORE

In a White House blog entry posted late on April 26, National Economic Council Director and chief economic advisor to President Trump Gary Cohn reiterated his earlier comments that retirement savings will be protected as tax reform proceeds.In the entry, “President Trump Proposed a Massive Tax Cut... READ MORE

A recent article in the Wall Street Journal cautions: “Grab Your Pitchforks, Your 401(k) May Need Defending From Congress.”The article (subscription required) covers ground we have heard for months now — that “The lucky participants in one of the best retirement plans around are coming after yours... READ MORE

Bipartisan, bicameral legislation that would require 401(k) plan sponsors to inform participating workers of the projected monthly income they could expect at retirement has been reintroduced on Capitol Hill.The legislation, The Lifetime Income Disclosure Act (S.868), was introduced in the Senate... READ MORE

We have “an historic opportunity” — there is a “dynamic policy-making situation just ahead,” believes Earl Pomeroy, senior counsel at Alston & Bird and a former member of the House of Representatives.Pomeroy addressed an April 3 general session of the Enrolled Actuaries meeting in Washington, D... READ MORE

The November election was a shock to many people. Few anticipated the outcome, which created a political environment that is the most conducive to a comprehensive reform of the tax code since it last happened 30 years ago. Given this reality, a close examination of the Tax Reform Blueprint issued... READ MORE

With health care reform off the table (at least for the moment), Congress will now turn to… tax reform.Over the weekend, House Ways & Means Committee Chairman Kevin Brady (R-Texas) said he aims to move a tax reform bill through his committee this spring. According to Reuters, Brady said he... READ MORE

A new tax reform proposal has surfaced that would impose a 15% tax on retirement accounts.More specifically, the proposal includes a new 15% tax on interest paid to tax-exempt institutions and retirement plans.The corporate tax reform plan, by Alan Viard of the American Enterprise Institute and... READ MORE