Government Affairs

Some may consider it a bundle of coal, and others a vision of sugarplums, but a bipartisan group of lawmakers now says that their legislative proposal to ensure retirement advisors protect clients’ best interests could be introduced before the holiday break.The members of the bipartisan working... READ MORE

The U.S. Supreme Court’s June ruling in Obergefell v. Hodges, 576 U.S. ___, 135 S.Ct. 2584 (2015), the decision that overturned state laws and constitutional amendments that defined marriage as occurring between a man and a woman had many consequences, and retirement plans are among the areas it... READ MORE

The team of Portman and Cardin have put their heads, and pens, together in a letter to Labor Secretary Tom Perez about the Department of Labor’s (DOL’s) fiduciary proposal.Of course, then-Representatives Rob Portman (R-Ohio) and Ben Cardin (D-Md.) led the charge in the House for the Economic Growth... READ MORE

The Department of Labor (DOL), IRS and Pension Benefit Guaranty Corporation (PBGC) on Dec. 3 released advance copies of the Form 5500 Series to be used for 2015 reporting.Filings on 2015 forms can be submitted to EFAST2, the electronic system by which the Form 5500 is submitted, through approved... READ MORE

The final version of the 2015 Form 5500 was released on Dec. 3 and, in a victory for ASPPA GAC, the new IRS compliance questions were made optional (at least for the 2015 plan year). As has been reported in prior ASPPA Connect articles as well as ASPPA asaps, the IRS had proposed a number of new... READ MORE

The Pension Benefit Guaranty Corporation (PBGC) has amended its regulation on allocation of assets in single-employer plans by substituting a new table for determining expected retirement ages for participants in pension plans that are distressed or are being involuntarily terminated and that have... READ MORE

Pension plan sponsors have long been concerned about rising Pension Benefit Guaranty Corporation (PBGC) premiums — but now a major ratings agency has raised its concerns as well.Following the recent announcement by the PBGC that its multiemployer pension insurance fund deficit had surged by $10... READ MORE

The Financial Services Roundtable recently hosted an event on Capitol Hill that amounted to a retirement counseling session for Millennials working in Congress.Headlining the event was the youngest woman ever elected to Congress, Rep. Elise Stefanik (R-N.Y.). A freshman member first elected in 2014... READ MORE

The Obama Administration recently unveiled its myRA program, a federal effort to encourage retirement savings and provide an easy, low-impact way for those who do not participate in a retirement plan to set something aside. But it’s not the first time the administration has embarked on such an... READ MORE