Tag: Legislation

The State of Social Security: Mixed Perspectives

Experts say the uneven economic impact of the COVID-19 pandemic in some ways minimized its likely long-term effects on Social Security reserves, but longstanding solvency problems remain.

Advocates Applaud New Elder Justice Bill

The Elder Justice Reauthorization and Modernization Act of 2021 dedicates funding to programs to address vulnerable seniors’ needs, and its advocates say the financial services industry has a critical role to play in protecting the public.

Legislative and Judicial Actions

GAO is asked to review TDFs; complementary ‘SECURE 2.0’ legislation is introduced; 2022 HSA contribution limits are inflation-adjusted; and more

Addressing Plan Leakage with Sidecar Accounts

Bipartisan legislation has been introduced in the Senate to address retirement plan leakage; among the opportunities being discussed by industry stakeholders is the use of “sidecar” emergency savings accounts.

Social Security Uncertainty Must Inspire Concerted Action

Commenting on new Social Security deficit projection figures published this week, Rob Fishbein, corporate counsel at Prudential Financial, says it’s not time to hit the panic button yet—but it is time to take very seriously the retirement income challenge individuals face.

Lawsuit Seeks to Halt Rollout of California Secure Choice Savings

The Howard Jarvis Taxpayers Association wants a federal district court to halt the program, based on ERISA preemption and the possibility that home-owning Californians could be called on to pay additional taxes to support Secure Choice, which aims at opening up retirement investing opportunities.

Art by Jon Han

Big Ideas

Has the time arrived for a new wave of retirement plan reforms?