Legislative updates

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 25, 2023, for a California severe storm and flooding, for the incident period of March 11, 2023 – March 16, 2023.

May 30 2023

Industry & Regulatory News

Proposal Allowing CITs in 403(b) Plans Passes out of Committee

A bill introduced by Representative Frank Lucas (R-OK) was approved by the House Financial Services Committee with bipartisan support by a vote of 35-12. H.R. 3063 would amend securities laws to allow collective investment trusts (CITs) in 403(b) plans.

May 30 2023

Industry & Regulatory News

SECURE 2.0 Provides New Ways to Take Penalty-Free Distributions

The SECURE 2.0 Act provides more ways for individuals to access their retirement savings and creates new exceptions to the 10% early distribution penalty tax.

May 25 2023

Industry & Regulatory News

Congressional Leaders Inform Treasury on SECURE 2.0 Technical Fixes

Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department indicating that Congress intends to introduce technical correction legislation to correct erroneous statutory language for several SECURE 2.0 provisions in order to accurately carry out Congressional intent.

May 25 2023

Industry & Regulatory News

SECURE 2.0 Adds New Penalty-Free Distribution Option for Certain Emergency Expenses

This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0

May 24 2023

Industry & Regulatory News

Health Savings Act Reintroduced

Senator Marco Rubio (R-FL), along with several cosponsors have reintroduced the Health Savings Act.

May 11 2023

Industry & Regulatory News

Senate Proposal Would Make Certain ABLE Tax Provisions Permanent

Senator Ted Cruz (R-TX) and co-sponsor Senator Mike Braun (R-IN) have introduced S. 1226, a bill to make permanent several individual tax provisions.

May 04 2023

Industry & Regulatory News

INSULIN Act Proposed in Senate

Senator Jeanne Shaheen (D-NH) and co-sponsor Susan Collins (R-ME) have introduced S. 1269, the INSULIN Act of 2023.

May 03 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Florida Severe Storms, Tornadoes, and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 27, 2023, for severe storms, tornadoes, and flooding in Florida, for the incident period of April 12, 2023 – April 14, 2023.

May 01 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Nevada Severe Winter Storms, Flooding, Landslides, and Mudslides

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 27, 2023, for severe winter storms, flooding, landslides, and mudslides in Nevada, for the incident period of March 8, 2023 – March 19, 2023.

April 28 2023