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Legislation
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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Bipartisan legislation backed by the American Retirement Association would allow the expenses associated with plan design changes to be reimbursed from plan assets.
The Increasing Small Business Retirement Choices Act, introduced April 26 by Sens. Jacky Rosen (D-NV) and Tim Scott (R-SC), would...
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Thanks to their mother, my kids have grown up with a variety of pets in our house—but none more bizarre than our experience with… a chicken.
My son’s elementary school class had been exposed to the miracle of life over the course of several weeks by watching a set of chicks spring forth from eggs...
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New Jersey Secure Choice, the state-run program that is to provide retirement plan coverage for employees whose employers do not offer a retirement plan, is not yet operational. So says the website of the Secure Choice Savings Board, last updated on April 7.
This marks continued delay in its...
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The House Education and Labor Committee reported the Protecting America’s Retirement Security Act April 5, sending the bill to the House floor for a vote.
The committee voted 29-21 to report the bill to the House. No Republicans voted for the bill, and no Democrats voted against it. The ...
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The American Retirement Association expressed its opposition to the Protecting America’s Retirement Security Act (PARSA) in an April 5 letter to lawmakers. “Our opposition to this legislation is based on both its substance and its process,” writes ARA CEO Brian Graff.
The PARSA legislation was...
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The House of Representatives’ overwhelming passage last week of the Securing a Strong Retirement Act (H.R. 2954, a.k.a SECURE 2.0) helps set the stage for action by the U.S. Senate later this year, Brian Graff explained at the April 3 opening session of the 2022 NAPA 401(k) Summit in Tampa, FL.
“...
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March 29 was a busy day on Capitol Hill—in addition to the House of Representatives approving SECURE Act 2.0, the Senate Health, Education, Labor and Pensions (HELP) Committee held a hearing on improving retirement security.
In the hearing, titled Rise and Shine: Improving Retirement and...
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After waiting for nearly a year, legislation that builds off the original SECURE Act and is supported by the American Retirement Association was approved March 29 by the House of Representatives.
The Securing a Strong Retirement Act of 2022 (H.R. 2954)—a.k.a. SECURE Act 2.0—was approved by a 414-...
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A bipartisan bill introduced in the U.S. Senate March 30 would make it easier for small businesses to offer retirement plans for their employees.
The Starter-K Act of 2022 (S. 3955) was introduced by Sens. John Barrasso (R-WY) and Tom Carper (D-DE), both of whom sit on the tax-writing Senate...
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It looks like SECURE 2.0 will be coming up for a vote in the House this week after all.
According to a March 25 Dear Colleague letter from House Majority Leader Steny Hoyer (D-MD), “during the week of March 28, the House will take up legislation to help Americans save for retirement.” The...
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After passing in the state House of Representatives, legislation that would affect retirement plan professionals and participants in a variety of ways is now before the state Senate.
H.B. 8, whose primary sponsor is Rep. Jason Petrie (R-Logan), passed the House on March 4 by a 67-23 margin just a...
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The $1.5 trillion budget bill passed by Congress this week includes budget boosts for the Employee Benefits Security Administration (EBSA) and the IRS—but bipartisan retirement legislation apparently will have to wait for another day.
On March 9, the House of Representatives passed, by a vote...
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For those looking for an official analysis and explanation of the SECURE and CARES acts, the Joint Committee on Taxation has just posted a handy resource.
The “Bluebook” (known formally as the General Explanation of Tax Legislation Enacted in the 116th Congress) provides explanations of more than...
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Legislation has been introduced in the U.S. Senate that seeks to ban institutional investors from investing in Russian entities due to the war in Ukraine.
On March 2, Florida Republican Sens. Marco Rubio and Sen. Rick Scott introduced the Instituting Measures to Protect American Investors and...
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A March 1 House subcommittee hearing to address improving retirement security and access to mental health found itself largely debating the Biden administration’s proposed guidance on ESG factors, as well an array of retirement policy proposals.
The hearing by the House Education and Labor’s...
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Key members of the House of Representatives have reintroduced legislation to allow retirement plan sponsors to provide annuities as a default option in their DC plans.
Reps. Donald Norcross (D-NJ) and Tim Walberg (R-MI), who serve together on the House Committee on Education and Labor’s Health...
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The devil may be in the details, but they occur against a bigger backdrop. At a Feb. 7 session of the 2022 NTSA Summit in Phoenix, American Retirement Association Chief Content Officer Nevin Adams offered attendees a look at some big picture “seismic shifts” affecting the retirement industry. ...
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The nearly $2 trillion broad-based legislative package that includes mega Roth and other retirement-based revenue raisers does not appear to be moving anytime soon, but there is hope for bipartisan retirement legislation.
Speaking to reporters last week, Sen. Joe Manchin (D-WV)—who had been the...
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This could be a busy year for lawmakers on a number of matters relevant to the retirement industry, American Retirement Association CEO Brian Graff suggested at a Feb. 6 session of the NTSA Summit in Phoenix, AZ.
What Could Have Been
There was an effort late in 2021 to pass the Build Back...
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