ERISA News

President Trump has issued an Executive Order aimed at increasing access to alternative investments for 401(k) and other defined contribution plans. According to a fact sheet, the order directs the Department of Labor—in consultation with the Secretary of Treasury and the Securities Exchange Commission (SEC)—to reexamine guidance and clarify a fiduciary’s duties and appropriate processes regarding alternative investments in ERISA-governed defined contribution plans. 

The Senate Health, Education, Labor and Pensions (HELP) Committee unanimously advanced two bills to strengthen Employee Stock Ownership Plans (ESOPs). S. 1728, the Employee Ownership Representation Act—sponsored by Senator Bill Cassidy (R-LA)—would add two ESOP board members to the ERISA Advisory Council.

Representative Vern Buchanan (R-FL) and several co-sponsors have introduced H.R. 4548, the Small Nonprofit Retirement Security Act.

Senators Steve Daines (R-MT) and Maggie Hassan (D-NH) have introduced S. 2461, the Promotion and Expansion of Private Employee Ownership Act.

The Department of Labor (DOL) has released guidance and a public request for information (RFI) titled “Pooled Employer Plans: Big Plans for Small Businesses”.

Senator Bernie Sanders (I-VT) and several Democrat sponsors have introduced S. 2458, the Employee Ownership Financing Act.

President Trump has signed into law the Filing Relief for Natural Disasters Act (“Act”). The Act allows the Treasury Department, after consulting with the Federal Emergency Management Agency, to postpone filing deadlines for affected individuals and businesses in a state-declared disaster area that has not yet received a federal disaster designation. 

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on July 22, 2025, for several disasters throughout the United States.

Senator Bernie Sanders (I-VT) has released proposed legislation titled the Pensions for All Act.

The IRS has announced the postponement of certain tax-related deadlines for victims of New Mexico storms, flooding, and landslides until February 2, 2026.