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Government Affairs
On Thursday, July 10, both the House Ways and Means (W&M) and the Senate Finance Committee (SFC) marked up bills to extend funding for the highway trust fund. Both bills include extension of the Moving Ahead for Progress in the 21st Century Act (MAP-21) interest stabilization provision to...
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The Senate Finance Committee met June 26 to consider a modified chairman’s mark of revenue raisers to pay for an extension of the highway trust fund through the end of the year. The hearing adjourned with no action, but with the stated intention of reconvening to mark up a proposal early in the...
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The ink is barely dry on the legislation that raised the Pension Benefit Guaranty Corporation (PBGC) premiums, and already there is a proposal to hike them again. In an op-ed that appears in Roll Call, Judy Miller, ASPPA’s Director of Retirement Policy, writes about the prospect and what it means...
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The political dynamic at play between the House of Representatives and the Senate regarding the annual federal spending bills also applies to taxes, as Congress considers tax legislation that includes provisions impacting IRAs and multi-employer pension plans. As with federal spending bills, the U....
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A May 21 Senate Finance subcommittee hearing that purported to be about strengthening Social Security morphed into a critical discussion of the merits of the defined contribution system and industry. Testifying at the hearing held by the committee’s Subcommittee on Social Security, Pensions, and...
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The Joint Economic Committee, a bicameral congressional committee charged with studying matters relating to the United States economy, held a hearing May 21 that examined the unique issues that women face in retirement. Sen. Amy Klobuchar (D-Minn.), vice-chair of the committee, convened the hearing...
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The PBGC wasted no time in responding to a study critical of proposed increases in PBGC premiums. It issued its response on May 14, the same day the Pension Coalition released “Increasing Pension Premiums: The Impact on Jobs and Economic Growth,” reports BenefitsPro. The PBGC agreed that premiums...
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Lauding the federal Thrift Savings Plan as “one of the most efficient savings plans in America,” Sen. Marco Rubio (R-Fla.) urged that the DC plan for federal employees be made available to private workers nationwide. Rubio, a potential 2016 presidential candidate, floated the idea in a May 13...
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ASPPA and other groups that represent thousands of employers urged the U.S. Senate and the House of Representatives in separate letters to oppose any efforts to further increase premiums paid to the Pension Benefit Guaranty Corporation by sponsors of single-employer DB plans. “We urge you to...
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Maryland Gov. Martin O’Malley (D) has created a task force to explore how his state can improve retirement security for private sector employees, with an eye toward recommending further action.According to a press release, the task force will meet this year “to conduct a comprehensive examination...
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House Committee on Education and the Workforce Chairman Rep. John Kline (R-Minn.) didn’t mince words at a May 1 event on multiemployer pension plan reform: the current state of affairs “will inflict a lot of pain on homes and workplaces,” and something needs to be done. He made his remarks at an...
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With another testing season in the rearview mirror and PPA restatements looming on the horizon, there are sure to be plenty of questions on everyone’s mind, and ASPPA’s IRS Q&A subcommittee wants to hear them! We are currently gathering questions to go on the list that will be submitted to our...
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The IRS, in Notice 2014-19 and related FAQs, says that retirement plans have to recognize same-gender spouses and spells out how. The notice and FAQs, which the IRS issued April 4, are a follow-up on Revenue Ruling (Rev. Rul.) 2013-17, which provided general guidance on the tax implications of the...
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In remarks at a recent conference on income inequality, Sen. Ron Wyden (D-OR), the incoming Chairman of the Senate Finance Committee, may have tipped his hand on how he will treat employer-provided retirement plans, advocating the simplification and consolidation of “the array” of current...
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In remarks at a recent conference on income inequality, Sen. Ron Wyden (D-OR), the incoming Chairman of the Senate Finance Committee, may have tipped his hand on how he will treat employer-provided retirement plans, advocating the simplification and consolidation of “the array” of current...
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The words have barely faded from the teleprompter, but retirement experts have wasted no time in expressing caution regarding the “myRA” retirement accounts President Obama unveiled in his State of the Union Address. Chris Carosa of Fiduciary News provides a comprehensive list of 10 reasons to...
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The words have barely faded from the teleprompter, but retirement experts have wasted no time in expressing caution regarding the “myRA” retirement accounts President Obama unveiled in his State of the Union Address. Chris Carosa of Fiduciary News provides a comprehensive list of 10 reasons to...
READ MORE
The words have barely faded from the teleprompter, but retirement experts have wasted no time in expressing caution regarding the “myRA” retirement accounts President Obama unveiled in his State of the Union Address. Chris Carosa of Fiduciary News provides a comprehensive list of 10 reasons to...
READ MORE