The presidential election may be over, but questions about
changes under the Obama administration have
just begun to arise.
With Barack Obama elected to a second term, technical
corrections to the Patient Protection and Affordable Care Act (PPACA) and
pension funding relief legislation likely will be introduced and may pass, Buck
Consultants predicts in its paper “Status Quo: Obama and a Mixed
Congress—Little Legislation, Heavy on Regulations.” In addition, the Obama administration is expected to
work quickly to implement
the remaining provisions of the PPACA.
Also expected down the pike is the reproposal, by the
Department of Labor (DOL), of an expanded definition of fiduciary under the
Employee Retirement Income Security Act (ERISA), as well as a proposal
to provide plan participants with retirement income projections.
With so many balls in the air, how can plan sponsors best
prepare for the coming months and years? Here, we offer a breakdown of the most
pressing issues sponsors should keep in mind: