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Legislation
An increasing number of states are crafting and implementing retirement programs for employees whose employers do not offer one. All of them are new, but an industry insider discusses some of the states that have forged ahead on something newer than new.
Chad Parks, Founder and CEO of Ubiquity...
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The California Senate has approved two bills relevant to retirement plan coverage in California and has advanced them to the state Assembly.
Expanding CalSavers
SB 1126, a measure that would expand the definition of “eligible employer” for purposes of the CalSavers Retirement Savings Trust Act—...
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Bipartisan legislation that would make it easier for small businesses to offer retirement plans and that has the backing of the American Retirement Association has been introduced in the House of Representatives.
Reps. Linda Sánchez (D-CA) and Darin LaHood (R-IL)—both of whom are members of the...
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Bipartisan legislation introduced in the U.S. Senate June 15 seeks to stem retirement plan leakage, backing auto-portability and a tax credit for adopting employers.
The Advancing Auto Portability Act of 2022, introduced by Sens. Tim Scott (R-SC) and Sherrod Brown (D-OH) has the potential to...
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Legislation that builds off the House-passed SECURE Act 2.0 bill and includes provisions advanced by the American Retirement Association has taken an important step in the Senate.
The Senate Health, Education, Labor and Pensions (HELP) Committee approved the legislation—formally named the “...
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A new law will adjust employer-paid contributions in the Florida Retirement System and the participation period for certain employees.
State Representative Jay Trumbull (R-Panama City) introduced the bill; the state House and Senate on March 14, 2022 each unanimously passed the conference report...
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The Senate Health, Education, Labor and Pensions (HELP) Committee is set to move forward on legislation intended to build off the House-passed SECURE Act 2.0.
After formally introducing the “Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg” (RISE...
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The First State is poised to join its sister states that provide a state-run retirement plan.
By a 35-1 margin, the state House of Representatives passed legislation May 17, 2022 to create the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) program, which is intended to...
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In an opening bid by the Senate, the chair and ranking Republican of the Senate Health, Education, Labor and Pensions Committee have released a discussion draft of legislation that builds off the House-passed SECURE Act 2.0 legislation.
Sens. Patty Murray (D-WA) and Richard Burr (R-NC) on May 26...
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Sens. Todd Young (R-IN) and Cory Booker (D-NJ) have introduced legislation that they say would “facilitate convenient and affordable access to workplace emergency savings accounts, improving financial security and reducing retirement savings leakage.”
According to the bill’s sponsors, the...
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The American Retirement Association is strongly opposed to legislation moving through Congress that would prohibit arbitration of claims and discretionary clauses in all ERISA covered retirement plans.
“On behalf of the over 30,000 members of the American Retirement Association (ARA), we hereby...
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A bill is before the California Senate that would expand CalSavers, the state-run retirement plan that provides coverage to those whose employers do not, to cover almost all employers in the Golden State.
SB 1126, introduced by Sen. Dave Cortese (D-Santa Clara), would expand the definition of “...
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Two Senate bills have been introduced and a bicameral working group formed that seek to ease the administrative burdens for small businesses, as well as expand access to those without an employer-sponsored retirement savings plan.
Sens. John Hickenlooper (D-CO) and Susan Collins (R-ME), who both...
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Legislation before the U.S. Senate seeks to ensure that terminated vested participants and their beneficiaries are well-informed regarding how they receive payments.
The Information Needed for Financial Options Risk Mitigation (INFORM) Act (S. 4087), introduced by Sen. Patty Murray (D-WA),...
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Arizona is set to study public-private partnerships in retirement savings programs. Gov. Doug Ducey (R) on May 2 signed a measure to create a committee to do so.
Senate Bill 1375 was introduced on Jan. 25 in the state Senate and on March 8 in the House of Representatives.
The study committee...
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The Show Me State may show welcome to a state-run retirement plan for private-sector employees.
Legislation that would create the Missouri Workplace Retirement Savings Plan has passed the state House of Representatives, and the Senate is poised to take up its version.
The Missouri Workplace...
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Well, this looks familiar: Capitol Hill considering a SECURE Act. But this time around, it’s SECURE 2.0. In a recent webcast, American Retirement Association Retirement Education Counsel Robert M. Richter provided an update regarding the provisions of SECURE 2.0 as well as other legislation of...
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The Department of Labor’s March warning about cryptocurrency, along with Fidelity’s decision to move forward with a new “digital assets” capability for 401(k) plans, has set off a firestorm in Washington.
One of the latest developments comes from Sen. Tommy Tuberville (R-AL) who has introduced...
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The Aloha state is poised to set in motion a state retirement plan that would be unique among its counterparts—employees would have to opt in, and a retiree would be among the members of the board administering the program.
On May 3, the Hawaii Senate and House of Representatives both voted in...
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A trio of Democratic senators has reintroduced legislation focused on providing information to participants affected by a pension buyout.
The Information Needed for Financial Options Risk Mitigation (INFORM) Act of 2022 was reintroduced by Sens. Patty Murray (D-WA), Chair of the Senate Health,...
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