Happy Friday, readers! If you have been following the industry news this week, you’ll already know that there has been some significant action in Congress on retirement-focused legislation. Among the many provisions being considered in the SECURE Act and RESA is a new safe harbor to protect retirement plan fiduciaries when they offered in-plan guaranteed income products. Experts agree that plan sponsors often skip lifetime income products in plan menus because they are concerned about their own liability should the insurance provider fail to meet their payment obligations at some point in the future. You can read all about this evolving topic in the articles collected below.

Sources say the House Ways and Means Committee will likely vote to advance the Securing a Strong Retirement Act of 2021, often called a follow-up to the SECURE Act, as soon as tomorrow afternoon.

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

The markup hearing, punctuated by a unanimous vote to advance the legislation, demonstrated that retirement security issues are capable of bringing together members of Congress who don’t agree on much else.

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