10 06, 2019

Washington Threatens to Change Retirement Planning Forever

2019-06-10T09:31:52-07:00June 10th, 2019|Categories: Retirement|Tags: , |

Lawmakers play a vital role in helping Americans save for retirement. The laws that members of Congress help put in place create incentives for certain behavior while discouraging other actions, and in the retirement context, the trend over the past several decades has moved toward greater personal responsibility. In particular, the shift from employer-provided pensions to workplace 401(k) plans and IRAs has put the responsibility to save enough for retirement in workers' hands. One benefit of the retirement accounts [...]

5 06, 2019

The SECURE Act – A Primer on the Top Six SECURE Act Changes that could be coming to Retirement Plans Next Year

2019-06-05T10:19:42-07:00June 5th, 2019|Categories: Pension Reform|Tags: , |

The SECURE Act (the “Act”) passed the House with bipartisan support and is on its way to the Senate with predictions that it could end up on the President’s desk by the end of the year. Here are some highlights of this potential legislation. 1. Longer Life means Later Mandatory Distributions. To account for increases in life expectancy, the Act would increase the age for required minimum distributions from 70 ½ to 72. The Act will also repeal the [...]

30 05, 2019

House Bill Makes Significant Changes to Retirement Plans

2019-05-30T14:17:23-07:00May 30th, 2019|Categories: Pension Funding|Tags: |

Last week, the House of Representatives overwhelmingly passed the “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019” (H.R. 1994) by a vote of 417-3. The bill makes numerous changes affecting employer-provided retirement plans as well as individual retirement accounts (IRAs) and other tax-favored savings accounts. The bill contains provisions designed to expand and preserve retirement savings, simplify administrative requirements, expand the use of Section 529 plans, and enhance revenue. Some of the key provisions affecting retirement [...]

23 05, 2019

House overwhelmingly passes SECURE Act

2019-05-23T10:53:38-07:00May 23rd, 2019|Categories: Retirement|Tags: , |

A bipartisan majority in the House overwhelmingly approved Thursday a retirement reform package, 417-3. The legislation, the Setting Every Community up for Retirement Enhancement Act of 2019, referred to as the SECURE Act, includes provisions that make it easier for smaller employers to join open multiple-employer plans, eases non-discrimination rules for frozen defined benefit plans and adds a safe harbor for selecting lifetime income providers in defined contribution plans. The bill was introduced in late March by a bipartisan [...]

1 04, 2019

Bipartisan retirement security package introduced in House

2019-04-01T13:23:20-07:00April 1st, 2019|Categories: Defined Benefit Plans|Tags: |

A bipartisan group of legislators Friday introduced a bill that features core provisions of the Retirement Enhancement Savings Act and adds other measures that aim to bolster retirement security. The Setting Every Community up for Retirement Enhancement Act of 2019, referred to as the SECURE Act, includes provisions that would make it easier for smaller employers to join open multiple-employer plans, ease non-discrimination rules for frozen defined benefit plans and add a safe harbor for selecting lifetime income providers in [...]