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U.S. Rep. Vern Buchanan (R-Fla.) has introduced bipartisan legislation to make it easier for small businesses to offer retirement benefits to employees. It’s not the first time Buchanan has done so; he introduced an earlier iteration in the waning days of the 114th Congress in December 2016.H.R....
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U.S. Rep. Vern Buchanan (R-Fla.) has introduced bipartisan legislation to make it easier for small businesses to offer retirement benefits to employees. It’s not the first time Buchanan has done so; he introduced an earlier iteration in the waning days of the 114th Congress in December 2016.H.R....
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Two joint resolutions now before the U.S. House of Representatives express disapproval of the Department of Labor’s rule on state and municipal retirement savings plans for private-sector employees.Rep. Tim Walberg (R-MI) introduced H.J.Res. 66 on Feb. 7; it states that the House and Senate...
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Pension Benefit Guaranty Corporation (PBGC) premiums should not be a safety valve for the federal budget. That’s the view of Sen. Michael Enzi (R-WY), who has introduced legislation that would prevent the practice.Enzi introduced S. 270, a bill that would prohibit the use of premiums paid to the...
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The Department of Labor’s (DOL) fiduciary rule, as well as other regulations and laws that affect and govern retirement plans, were part of the discussion at the U.S. Chamber of Commerce meeting on Feb. 3.“The Shifting Paradigm of Retirement,” a morning program in which speakers from the federal...
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There is now an “even greater opportunity” for tax reform, Senate Finance Committee Chairman Orrin Hatch (R-UT) told the U.S. Chamber of Commerce at a Feb. 1 meeting at its Washington, DC headquarters. Hatch said he hopes there will be a tax reform proposal “in the near future” but spoke in broad...
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Sure, you’ve spent a year getting ready for the fiduciary rule — but are you ready for this?Tax reform is the topic du jour in the nation’s capital. The headlines have been filled with promises from both President Trump and nearly every one of his cabinet appointees to do something about tax reform...
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A not-so-complex financial calculus underpins a delicate balance for small business owners considering offering a retirement plan — and Congress could be getting ready to screw that up.As it turns out, the House Blueprint for tax reform provides a 25% tax rate on income from pass-through entities (...
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House Ways & Means Committee Chairman Kevin Brady (R-Texas) says that Congress is “seeking ideas” on how to increase saving, including retirement saving. Brady made his remarks at the Financial Services Roundtable’s Jan. 25 meeting, “Breaking Down the Barriers to Financial Security,” held in...
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With the presidential election victory of Donald Trump and the success of Republicans in holding majorities in both the House of Representatives and the Senate, the immediate future of the Department of Labor’s fiduciary rule has been cast into some doubt. A recent analysis explores what its...
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New legislation would push back — way back — implementation of the Department of Labor’s (DOL) fiduciary rule.Rep. Joe Wilson (R-S.C.) on Jan. 6 introduced H.R. 355, the Protecting American Families’ Retirement Advice Act.In announcing the bill, Wilson said “The Department of Labor’s fiduciary rule...
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House Ways & Means Committee Republicans have broken into tax reform working groups — and retirement is on the “menu.”Ways & Means Committee Republicans have organized into informal tax reform working groups, but “not in the traditional sense,” Tax Notes reports, citing committee chair...
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Editor’s note: This is the second of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans. Part 1 can be found here.The champagne flutes may be dry, but plenty of bubbling exuberance remains. And regarding...
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A new law now allows small employers to provide a stand-alone employer-paid health reimbursement account (HRA) plan to employees without incurring a tax penalty.The new law allows a small employer (with fewer than 50 employees) to avoid a tax penalty when providing a standalone employer-paid HRA...
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A new law now allows small employers to provide a stand-alone employer-paid health reimbursement account (HRA) plan to employees without incurring a tax penalty.The new law allows a small employer (with fewer than 50 employees) to avoid a tax penalty when providing a standalone employer-paid HRA...
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A new report finds that the retirement benefits of 100 CEOs is equal to the entire retirement savings of the 41% of U.S. families with the smallest nest eggs.On average, the top 100 CEO nest eggs are large enough to generate for each of these executives a $253,088 monthly retirement check for the...
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Editor’s note: This is the first of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans.It won’t be long till the champagne corks have been popped, the confetti has fallen and we will have embarked a new...
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Elections, it is said, have consequences. And the retirement industry is among those for whom the results that became clear in the early hours of Nov. 9 signals that change is on the horizon. In the Nov. 15 ASPPA webcast, “What the Election Means to the Retirement Industry,” Brian Graff, CEO of the...
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Published reports indicate that the U.S. Senate is looking to pass a comprehensive tax overhaul next year using the budget reconciliation process.Senate Majority Leader Mitch McConnell (R-Ky.) said at a press conference Dec. 12 that the plan to enact both changes to Obamacare and comprehensive tax...
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As expected, President-Elect Trump’s pick for Treasury Secretary has thrown down the gauntlet on tax reform — and that’s not likely to be good news for retirement plans.“Our No. 1 priority is tax reform. This will be the largest tax change since Reagan,” said Steven Mnuchin, the former banker who...
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