Legislation

If a measure before the Oregon Senate becomes law, ABLE accounts would be added to the options available to employees in Oregon. If enacted, the new option would be available beginning Jan. 1, 2025.  SB 571 provides that if an employer offers or provides contributions to employee retirement... READ MORE

Private-sector employees in the Silver State whose employers do not offer a retirement plan could be covered by a state plan, if a bill now before the state Senate is passed and enacted.  Senate Chief Majority Whip Dallas Harris (D-Clark County) on March 16 introduced SB 305, a measure that would... READ MORE

In a move to encourage choice in retirement saving, President Biden vetoed a measure on March 20 that the administration says would block plan fiduciaries from freely considering the best interest of workers and savers in retirement plan investment offerings.   The veto, the Administration’s first... READ MORE

A bill before the Illinois Senate would give participants in the state retirement system the opportunity to choose an additional option for their retirement plan coverage.  Sen. Dan McConchie (R-Lake Zurich) introduced SB 1516, which would require plans by July 1, 2025 to prepare and implement a... READ MORE

The Administration’s fiscal year 2024 budget proposes massive tax increases on corporations and upper-income taxpayers, including a proposal from the Build Back Better Act[1] to limit how much taxpayers are allowed to accumulate in their retirement plans.   According to the Treasury Department’s... READ MORE

There are only 10 (or so) different provisions under SECURE 2.0 which seem to have any sort of direct relation to the provision of Lifetime Income (LI) through defined contribution plans, and none of them seem to have the bold, systemic effects that we saw under the some of the terms under SECURE 1... READ MORE

As promised, the Republican-led House of Representatives moved forward with a congressional disapproval resolution against the Department of Labor’s recently finalized environmental, social and governance (ESG) rule. On a near party-line vote of 216-204, the House approved H.J. Res. 30 introduced... READ MORE

The latest deadline for registering with the Connecticut Retirement Security Program — also known as MyCTSavings — looms. And the program itself could be fine-tuned if legislation now before the state House of Representatives is enacted.  The Connecticut Retirement Security Program is a state-... READ MORE

The West Virginia Senate has passed a measure that would include certain public charter schools under state public retirement system coverage. Sen. Eric Nelson (R-Kanawah) introduced the bill, SB 449, on Jan. 24. It passed in that chamber on Feb. 9 in a 33-0 vote. What the Bill Would Do The bill... READ MORE