The fully amended bill clarifies the Senate's position on retirement reform, as the Senate and House approach a final deal expected late this year.
Tag: retirement plan new legislation
Because different provisions are included in the House and Senate versions of the ambitious retirement reform legislation, a reconciliation process is likely in store.
The committee’s unanimous passage of the EARN Act represents another step forward for an ambitious package of retirement planning reforms making their way through the legislative process.
The legislations’ backers say their proposal will lower the cost of providing plans for small business owners.
Taking a cue from the process that led to the adoption of the SECURE Act in late 2019, one retirement industry policy advocate says the odds are good for passage of retirement-focused legislation by the end of the year.
The bill, which has been introduced in previous legislative sessions, would allow annuities to be a default investment in employer-provided 401(k) plans.
The SECURE Act became law at the very end of 2019, ushering in major changes for the retirement planning industry, and experts are again asking whether the close of 2021 could bring similar progress.
Industry professionals who work with lawmakers in Washington say they remain hopeful that retirement security issues will be addressed in the federal government’s budget for fiscal year 2022.
Budget reconciliation legislation set for debate in Congress gives top billing to universal paid family and medical leave, but key retirement policies also stand out, including a broad mandate for employers to offer retirement plans.
Democratic lawmakers in the House and Senate say the bill is needed to help address longstanding retirement insecurity issues—and to address some of the negative impacts of the pandemic.
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.
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.
The full title of House Resolution 2123 is the Diversity and Inclusion Data Accountability and Transparency Act; among other goals, it seeks to require regulated financial firms with more than 100 employees to disclose diversity data.
A new research report out of the Wharton School suggests changes to required minimum distribution (RMD) rules might not have as big an impact in practice as many might expect, though one subset of clients seems likely to benefit the most from an older RMD age.
The lawmakers say their proposals to require more disclosure of environmental, social and governance information build on the proven principle that sustainable investing and profitable investing are not mutually exclusive.
Commenters at a Senate Finance Committee hearing held Wednesday sure hoped so—and they had a lot of ambitious ideas.
One retirement plan industry executive says his conversations with members of the U.S. House and Senate make him optimistic that Congress could act sooner rather than later on the new legislation.
Experts say the president-elect could start the process of shoring up Social Security and embrace ESG investing.
The bipartisan piece of legislation includes provisions that have long been popular among retirement industry stakeholders, including the elimination of barriers to allow greater use of lifetime income products.
The close passage of the Heroes Act in the House of Representatives, with 208 yeas and 199 nays, underscores the difficult path ahead for the fourth coronavirus relief package.