Legislative updates

Industry & Regulatory News

Child Savings Account Proposal Introduced

Senator Bob Casey (D-PA) and several co-sponsors have introduced S. 3716, the 401Kids Savings Account Act.

February 20 2024

Industry & Regulatory News

Proposal Would Expand Medical Expense Coverage for Caregivers

Representatives Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced H.R. 7222, the Lowering Costs for Caregivers Act.

February 16 2024

Industry & Regulatory News

IRS Announces Deadline Relief for West Virginia

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides, and mudslides in West Virginia.

February 08 2024

Industry & Regulatory News

Representative Neal Introduces Automatic IRA Act of 2024 Bill

Representative Richard Neal (D-MA), House Ways and Means Committee Ranking Member, has introduced the Automatic IRA Act of 2024.

February 07 2024

Industry & Regulatory News

Bill Introduced to Require PBGC to Recover Special Financial Assistance Overpayments

Senator Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions Committee, and Rep. Virginia Foxx (R-NC), chair of the House Education and the Workforce Committee, introduced the GHOST Act.

January 31 2024

Industry & Regulatory News

Agencies Release Reporting and Disclosure RFI Under SECURE 2.0

The Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation have released a Request for Information (RFI) pursuant to Section 319 of SECURE 2.0.

January 22 2024

Industry & Regulatory News

DOL Releases Proposed Regulation on Automatic Portability Under SECURE 2.0

The Department of Labor (DOL) has announced the release of a proposed regulation on automatic portability transactions pursuant to Section 120 of SECURE 2.0.

January 19 2024

Industry & Regulatory News

DOL Posts FAQs on PLESAs Under SECURE 2.0

The Department of Labor (DOL) has announced the release of a set of frequently asked questions intended to provide general compliance information under ERISA regarding pension-linked emergency savings account (PLESA) arrangements that are allowed under SECURE 2.0.

January 18 2024

Industry & Regulatory News

IRS Finalizes Rule to Update Minimum Present Value Requirements for DB Plan Distributions

The IRS has issued a final rule to update minimum present value requirements for defined benefit plan distributions.

January 18 2024

Industry & Regulatory News

OMB Completes Review of DOL Automatic Portability Exemption Proposal

A Department of Labor (DOL) proposed rule titled Exemption for Certain Automatic Portability Transactions has been removed from the Office of Management and Budget’s list for review, signaling that it may be released soon.

January 17 2024