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Legislation
The Senate wrapped up its work for the summer Aug. 10, approving a $1.2 trillion infrastructure bill that extends pension smoothing relief for single-employer plan sponsors, as well as a $3.5 trillion budget outline that sets the stage for a broader tax and spending bill later this fall.
The...
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The 2,700-page bipartisan infrastructure bill that the Senate is considering this week includes another extension of pension smoothing for single-employer plan sponsors.
Like the pension smoothing relief that was provided in the American Rescue Plan Act (ARPA) enacted in March, the Infrastructure...
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In testimony before the Senate Finance Committee on July 28, Brian Graff, CEO of the American Retirement Association and Executive Director of ASPPA, cited projections that enactment of new legislation could create 51 million new individuals saving for retirement and add an additional $6.2 trillion...
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Sen. Patty Murray (D-WA), who is chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, along with Rep. Lauren Underwood (D-IL), have reintroduced legislation to bolster and provide protection for women’s retirement security.
The Women’s Retirement Protection Act of 2021 (...
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The IRS has proposed electronic filing requirements for some information returns and other documents, including returns and documents relevant to retirement plans.
The IRS is proposing regulations that would amend the rules for filing electronically. This would affect persons required to file...
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Brian Graff, CEO of the American Retirement Association, is set to appear next week before Congress to advocate for the retirement policy priorities of the ARA.
The hearing, entitled “Building on Bipartisan Retirement Legislation: How Can Congress Help?,” is scheduled for Wednesday, July 28, at 10...
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New proposed legislation by the chairman of the Senate Finance Committee would expand the pass-through deduction under Internal Revenue Code Section 199A , but it also would curtail the deduction for so-called upper-income clients.
The Small Business Tax Fairness Act introduced by Sen. Ron Wyden...
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Legislation that would recalibrate annual cost-of-living adjustments for Social Security has been introduced in the U.S. House of Representatives.
The “Fair COLA for Seniors Act of 2021” (H.R. 4315), introduced by Rep. John Garamendi (D-CA), would require Social Security to use the Consumer Price...
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There is plenty of activity on Capitol Hill, but it comes amid a climate that creates challenges for the retirement industry, American Retirement Association CEO Brian Graff noted June 29. Graff addressed a virtual general session of the National Tax Deferred Savings Association's annual...
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Although the “laboratory” for such analysis is relatively small, and the timeframe for evaluation somewhat limited, there are some early signs to consider.
Industry pundits and policymakers alike have long wondered—and argued—about the impact of state-run automatic IRA programs for private sector...
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Add the Pine Tree State to the growing list of states offering programs to provide coverage to those whose employers do not offer a plan.
Gov. Janet Mills (D) signed the Act To Promote Individual Retirement Savings through a Public-Private Partnership (LD 1622) into law June 24. The legislation, ...
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Bipartisan legislation has been introduced in the House and Senate to restore the delivery of annual Social Security projected benefit statements.
Introduced by Senate Finance Committee Chairman Ron Wyden (D-OR), Finance Committee Member Sen. Bill Cassidy (R-LA), House Ways and Means Social...
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Witnesses testifying before a House panel agreed that more needs to be done to address the current retirement savings coverage gap, but they diverged on what those solutions should entail.
The June 23 hearing, “Examining Pathways to Build a Stronger, More Inclusive Retirement System,” before the...
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The Pine Tree State is poised to become the latest state to offer a state-run retirement plan to provide coverage to those whose employers do not offer a plan.
The Maine House of Representatives and Senate both passed LD 1622, An Act To Promote Individual Retirement Savings through a Public-...
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Two bills have been introduced in the U.S. Senate designed to help Americans keep—and have more control over—their retirement savings.
Sen. John Kennedy (R-LA) introduced the Keeping Your Retirement Act and the Increasing Retirement Amount Act on June 7.
The Keeping Your Retirement Act would...
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There’s a lot to unpack in what’s been called “SECURE 2.0”—but here are some aspects you may have missed.
Building on a wide-ranging series of retirement plan design enhancements introduced by the Setting Every Community Up For Retirement Enhancement (SECURE) Act of 2019 (hence, SECURE 2.0),...
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The American Retirement Association has offered its support for newly introduced legislation that would provide a penalty-free “emergency distribution” option from employer-sponsored retirement accounts and IRAs.
The Enhancing Emergency and Retirement Savings Act of 2021 (S. 1870) was introduced...
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The Securing a Strong Retirement Act (SSRA)—a.k.a. SECURE 2.0—is wending its way through Capitol Hill. The measure contains a wide range of provisions that would affect retirement saving, plans and participants. A recent Plan Sponsor Council of America (PSCA) webinar zeroed in on some key...
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A measure that would expand the Illinois Secure Choice Savings Program, the state-run retirement plan for workers whose employers do not offer one, awaits the signature of Gov. J. B. Pritzker (D).
Rep. Will Guzzardi (D-Chicago) introduced H.B. 0117 in the House of Representatives on Jan. 13, 2021...
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The ranking Republican member of the House Ways & Means Committee has put forward a new Family Savings Account proposal that seeks to support the needs of families, but would fall outside the employer-based savings system.
Rep. Kevin Brady (R-TX), the top Republican on Ways & Means, along...
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