Legislative updates

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2025.

Representatives David Kustoff (R-TN) and Judy Chu (D-CA) previously introduced H.R. 517 the Filing Relief for Natural Disasters Act. The bill would allow the governor of a state or territory to extend a federal tax filing deadline in the event of a state-declared emergency or disaster, which happens automatically for federally declared disasters.

Representative Lauren Underwood (D-IL) and several co-sponsors have reintroduced the Women's Retirement Protection Act. Bill text for H.R. 2023 is now available.

Representative John Moolenaar (R-MI) has introduced H. R. 2067, the Protecting Americans’ Retirement Savings (PARSA) Act.

Representative Mike Collins (R-GA) has reintroduced H.R. 1818, the Aviation Workforce Development Act. According to a press release, the bill would make training at FAA-certified commercial pilot and aircraft maintenance technician schools a qualified expense for 529 college savings plans.

Senators Tammy Baldwin (D-WI), and Patty Murray (D-WA) along with several other co-sponsors have reintroduced the Women's Retirement Protection Act in the Senate. According to a press release, the legislation aims to do the following.

Representatives Greg Steube (R-FL) and co-sponsor Kat Cammack (R-FL) have introduced H.R. 1157, the Affordable Care and Comprehensive Economic Support through Savings (ACCESS) Act. According to a press release, the proposal would allow individuals to elect to receive contributions to a health savings account (HSA) in lieu of reduced cost-sharing under health insurance obtained through a health insurance exchange.

Representatives Lloyd Smucker (R-PA), and Don Beyer (D-VA), have re-introduced H.R. 1436, the Ensuring Nationwide Access to a Better Life Experience (ENABLE) Act. The proposal would make permanent the following provisions that are set to expire at the end of 2025. 

Senator Eric Schmitt (R-MO), along with a bipartisan coalition of cosponsors, have re-introduced the Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. The proposal would make permanent the following provisions that are set to expire at the end of 2025.

The Treasury Department has announced that it will not enforce penalties or fines associated with the beneficial ownership information reporting rule under existing regulatory deadlines pursuant to the Corporate Transparency Act (CTA). The Treasury Department also indicates it will be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.