This is where you’ll find our coverage and commentary on legislative proposals pending in Congress, along with regulatory issues that affect actuaries and the retirement industry as a whole.
Largely overlooked in the flurry of lame duck activity by Congress is a bill that creates a new kind of savings account for those with disabilities.
With just days to go before the end of the 113th Congress, two senior members of the House Ways & Means Committee have introduced a bipartisan comprehensive retirement bill.
Lawmakers have crafted and approved a sweeping bipartisan solution to address the mammoth funding shortfalls of the multiemployer plan system — a solution that is likely to have a long-term impact on defined benefit pension plans for both single and multiemployer arrangements.
Legislation working its way through Congress designed to avoid a government shutdown also contains some pension plan provisions.
By a large bipartisan majority, the U.S. House of Representatives last week passed tax-extender relief legislation that includes a provision that would affect multiemployer pension plan funding.
Five Senate Finance Committee members are asking Treasury Secretary Jack Lew for some retirement plan relief. They cite testimony provided in committee and “commonsense suggestions” that include several that ASPPA and NAPA have actively promoted.
When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different?
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