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A bipartisan task force in Pennsylvania is recommending the establishment of a state-run auto-IRA program to help workers who don’t have access to a private-sector retirement plan.  The task force, which was established in September 2017 by State Treasurer Joe Torsella, released a report March 27 ... READ MORE
A pair of Senate Democrats, one of whom is a 2020 presidential candidate, introduced legislation on April 4 that would require businesses to pay at least 50 cents into an employee’s retirement savings plan for every hour worked.  Noting that 3 in 10 workers lack access to a workplace retirement... READ MORE
The American Retirement Association is asking the ERISA Advisory Council to examine issues concerning the extent to which an ERISA-covered retirement plan may use plan assets to pay the costs associated with plan design changes and other features that encourage retirement savings. In an April 3... READ MORE
David Levine of Groom Law Group will be covering this hot topic during his session at ASPPA Eastern Regional Conference to be held May 9-10 in Philadelphia PA. The problem of plan participants who go missing after leaving their employers is a challenge for plan fiduciaries attempting to: comply... READ MORE
In response to unilateral actions taken by the American Academy of Actuaries, the ASPPA College of Pension Actuaries (ACOPA), part of the American Retirement Association (ARA) has taken steps in defense of its members, and the actuarial profession at large. In September 2018, the American Academy... READ MORE
The Maryland Senate Finance Committee has overwhelmingly voted to recommend the rejection of a pending fiduciary bill. In fact, 10 out of the 11 committee members voted in favor of a motion to consider Maryland Senate Bill 786 – The Financial Consumer Protection Act of 2019 – as “unfavorable.”... READ MORE
The Oregon Retirement Savings Board (ORSB) on April 2 reviewed a proposal to change the rules and amend OregonSaves to allow a presumption of employer exemption. The Oregon Treasury filed the proposal on Feb. 16. It held a public hearing on the proposal on March 19 and accepted public comments... READ MORE
The most powerful committee in the U.S. House of Representatives has advanced a powerful piece of retirement reform legislation – unanimously. Signifying the importance of the issue, the first markup meeting of the House Ways & Means Committee for the 116th Congress on April 2 featured the... READ MORE
Ever since passage of the Economic Growth Tax Relief and Recovery Act of 2001 (EGTRRA), individuals who are age 50 or over at the end of the calendar year can make annual catch-up contributions – as much as $6,000 in 2019.  The provision was designed to allow workers to “catch up” on contributions... READ MORE
Hello ACOPA – It has been a tiring first three months of 2019, work-wise. January Madness did not stop with March as we dealt with March 15 deadlines. The April 15 deadline is fast approaching with a new burst of stress. Summer can’t arrive soon enough as it brings on vacation time, summer... READ MORE

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