As with legislation introduced previously, employers without retirement plans would be required to automatically enroll employees into an IRA at a 3% default deferral rate.
Tag: retirement plan legislation
The Uniform Services Employment and Reemployment Rights Act (USERRA) requires that returning service members, on reemployment, be treated as though they did not have a break in civilian employment for the purpose of participation, vesting and accrual of pension benefits.
Sources say Congress may try to tack the SECURE Act onto other moving legislation this fall, and they recount the many changes in health care regulations driven by President Donald Trump's executive order.
Some legislative proposals, such as the SECURE Act, may address challenges to retirement income adequacy women face, but there are also things retirement plan sponsors can do.
Younger employees would benefit most from a requirement for employers to offer retirement plans, while older employees would benefit most from providing the option of guaranteed income for life from defined contribution (DC) plans.
PLANSPONSOR NewsDash readers weigh in on whether certain provisions of the Setting Every Community Up for Retirement Enhancement (SECURE) Act will lead to improved retirement income adequacy for Americans.
Both chambers of the State Assembly have passed legislation that would require religious organizations that manage pension plans to send regular updates on the financial health of the pensions to plan participants.
Word on the Hill is that the Senate may decide to take up the House version of the SECURE Act as-is—and sooner rather than later.
Reflecting on the much-anticipated House vote, Kevin Walsh, principal with Groom Law Group, said today is an important day for the retirement industry, but it’s not the end of the story.
A new research report and Catherine Collinson, with Transamerica Center for Retirement Studies, lay out steps all three can take to improve retirement confidence and readiness in America.
Plan sponsors can look for new legislation and regulations that will have big effects on retirement plans this year, and state legislation could add some confusion.
Like RESA, the SECURE Act contains popular measures to help Americans prepare for their long-term financial future by expanding opportunities to save for retirement in tax-qualified accounts.
A 2019 version of the popular “RESA” legislation has been reintroduced in the Senate, which has published a helpful section-by-section summary of the sweeping retirement reform proposal.
The new legislation includes the core provisions of H.R. 1007, the Retirement Enhancement and Savings Act.
The Pension Accountability Act is designed to give workers and retirees “a seat at the table” when a looming multiemployer pension bankruptcy may require major pension cuts, U.S. Senators from Ohio announced.
In addition, in a new 2019 State Retirement Security Blueprint, the Insured Retirement Institute (IRI) says the creation of state-run retirement plans is the wrong approach to addressing retirement security for all Americans.