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Legislative updates
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.
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.
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
Industry & Regulatory News
Health Savings Act Reintroduced
Senator Marco Rubio (R-FL), along with several cosponsors have reintroduced the Health Savings Act.
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.
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.
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.
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.
Industry & Regulatory News
Proposal Directing SEC to Allow Electronic Delivery Advances Out of Committee
A bill introduced by Congressman Bill Huizenga (R-MI), has been passed out of the House Financial Services Committee.
Industry & Regulatory News
Proposal to Encourage Profit Sharing Introduced in House
Congresswoman Bonnie Watson Coleman (D-NJ) has introduced H.R. 2628, the Employee Profit-Sharing Encouragement Act.