Legislative updates

Industry & Regulatory News

DOL Releases Proposed Fiduciary Rule

The Department of Labor (DOL) has released a new proposed rule updating the definition of an investment advice fiduciary under ERISA.

October 31 2023

Industry & Regulatory News

PBGC Updates Maximum Guarantee Table for 2024

The Pension Benefit Guarantee Corporation (PBGC) has updated its table titled, “Present Value of PBGC Maximum Guarantee,” to reflect applicable values for distributions with annuity starting dates during calendar year 2024.

October 31 2023

Industry & Regulatory News

SECURE 2.0 Act Changes RMD Rules

On December 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, which included the SECURE 2.0 Act.

October 25 2023

Industry & Regulatory News

Retirement Savings for Americans Act Reintroduced

Senators John Hickenlooper (D-CO) and Thom Tillis (R-NC), and Representatives Terri Sewell (D-AL) and Lloyd Smucker (R-PA) have re-introduced the Retirement Savings for Americans Act.

October 20 2023

Industry & Regulatory News

IRS Announces Applicable Federal Rates for November 2023

The IRS has issued Revenue Ruling 2023-20, which contains the applicable federal rates (AFR) for November 2023.

October 17 2023

Industry & Regulatory News

SAFER Banking Act Advances Out of Committee

The Senate Finance Committee has advanced S. 2860, the Secure and Fair Enforcement Regulation (SAFER) Banking Act by a vote of 14-9.

October 12 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Vermont Severe Storms and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 6, 2023, for Vermont severe storms and flooding, for the incident period of August 3-August 5, 2023.

October 09 2023

Industry & Regulatory News

Legislation Expanding HSA Access Clears Committee

The House Ways and Means Committee held a markup of two bills intending to expand access to Health Savings Accounts (HSAs).

September 29 2023

Industry & Regulatory News

Proposal Expanding HSA Access Introduced in House

Representatives Greg Steube (R-FL) and co-sponsor Kat Cammack (R-FL) have introduced H.R. 5608, the Affordable Care and Comprehensive Economic Support through Savings (ACCESS) Act.

September 26 2023

Industry & Regulatory News

Several Bills Amending ERISA Advance out of House Committee

The House Education and Workforce Committee held a mark-up of several proposals, including four bills (previously announced), which would amend ERISA related to proxy voting, fiduciary duties, and notice requirements for brokerage windows.

September 15 2023