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Legislation

Almost immediately after the New Year’s champagne stopped pouring, legislation arrived in the Mississippi House of Representatives that would establish a state-run plan that would provide retirement plan coverage for private-sector employees whose employers do not offer one.  Rep. Orlando Paden (D... READ MORE
Legislation that would create a state-run multiple-employer retirement saving plan in the Show Me State is before the Missouri House of Representatives. HB 155, introduced by Rep. Michael O’Donnell on Jan. 4, would establish the Show-Me MyRetirement Savings Administrative Fund, a multiple-employer... READ MORE
In a changing of the guard, Rep. Jason Smith (R-MO) has been selected by the House Republican leadership to take over as chairman of the powerful House Ways and Means Committee, but what does that mean for retirement policy? Overall, Rep. Smith appears to be somewhat of a blank slate in this area... READ MORE
There was a LOT going on this year — and you rewarded our hard work in bringing you the latest news and trends by clicking, sharing, and occasionally commenting on our content.  What were the top five clicked-on stories of 2022? Oddly, the fifth-most clicked on story of 2022 — was actually written... READ MORE
There are 92 provisions in the new SECURE 2.0 Act — and by at least one assessment, they are “almost universally good, with ‘good’ being defined as ‘helpful to the cause of promoting retirement security.’” Group Plan Systems’ Pete Swisher and Cherisha Chapman rank the Top 10 Impact Provisions — and... READ MORE
There was a LOT going on this year — and you rewarded our hard work in bringing you the latest news and trends by clicking, sharing, and occasionally commenting on our content. What were the top clicked stories of 2022? The lives (and experiences) of ASPPA Connect readers are often shaped by... READ MORE
While it came down to the wire, both the House and Senate have now approved the much-anticipated SECURE 2.0 Act of 2022 as part of the mammoth $1.7 trillion omnibus spending bill.  For months, it was anticipated that Congress would attach a final SECURE 2.0 package to a year-end spending bill, but... READ MORE
Rep. Andy Barr (R-KY) and Sen. Mike Braun (R-IN) have introduced a Congressional Review Act (CRA) measure in the House and Senate, respectively, to nullify the Department of Labor’s recently finalized rule to greenlight environmental, social and governance (ESG) investing in federal pension plans... READ MORE
After months of speculation on whether the House and Senate would attach a final retirement security legislative package with a must-do, year-end spending bill, we now have an answer. While most were nestled all snug in their beds in the waning hours of Dec. 19, House and Senate leaders released... READ MORE
The current focus for this Congress may be on SECURE 2.0, but legislators from both parties and both houses of Congress have introduced a new retirement savings bill. The Retirement Savings for Americans Act was introduced by U.S. Senators John Hickenlooper (D-CO) and Thom Tillis (R-NC), and... READ MORE
The Office of the Delaware State Treasurer on Dec. 5, 2022 announced that it is seeking proposals from qualified firms interested in providing program consulting services for the Delaware Expanding Access to Retirement and Necessary Savings (EARNS) Program.  Gov. John Carney (D) on Aug. 18, 2022... READ MORE
New York Gov. Kathy Hochul (D) on Nov. 23 vetoed a measure that would have allowed employees of the City of New York to join the New York City Board of Education Retirement System.  The measure had wound its way through the New York Senate and Assembly earlier this year. S08644 passed in the... READ MORE
With Congress poised to pass another comprehensive retirement policy bill this year — a new analysis underwritten by the American Retirement Association shows the dramatic impact on retirement savings — and retirement coverage — this bill could have. This legislation — nicknamed SECURE 2.0, as it... READ MORE
The Senate Finance Committee Chairman apparently remains bullish on the prospects that follow-on legislation to the original SECURE Act will be enacted this year during the lame-duck session.   Speaking to reporters Nov. 15 on a press call, Sen. Ron Wyden (D-OR), who is Chairman of the tax-writing... READ MORE
Both the House and Senate are scheduled to return this week for a lame-duck session, but the dust hasn’t settled yet on the elections and time is running short, including whether the SECURE Act 2.0 will cross the finish line. Here’s where things stand and what is known so far. In late September,... READ MORE
Legislation that seeks to stem retirement plan leakage by providing incentives for the use of automatic portability arrangements in defined contribution plans picked up support in the U.S. House of Representatives.  The Advancing Auto-Portability Act of 2022 (H.R. 9252) was introduced Oct. 28 by... READ MORE
Feeling SECURE? We’re still fairly new at implementing the first one, and here comes the second. In an Oct. 24 session of the 2022 ASPPA Annual conference, two industry experts offered a deep dive into what part two may portend.  “The legislative process is a mystery,” said American Retirement... READ MORE
In working on behalf of retirement plans, retirement plan participants, and those who support them, one of the constants is the importance of a bipartisan approach, American Retirement Association CEO and ASPPA Executive Director Brian Graff stressed in his opening remarks at the 2022 ASPPA Annual... READ MORE
Just as the Department of Labor (DOL) gets set to release a final regulation allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, another bill has been introduced in Congress that seeks to dial that back.  The Safeguarding... READ MORE
Shortly before recessing for the mid-term elections, the House of Representatives approved legislation opposed by the American Retirement Association that would prohibit arbitration and discretionary clauses in employer-sponsored benefit plans under ERISA.  The proposed changes were passed as part... READ MORE

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