A new report from the Government Accountability Office (GAO) calls on federal regulators to clarify the rules regarding the transfers of unclaimed savings from employer-based 401(k) plans to the states.
In this edition of Washington Insights, we explore the findings and recommendations in the GAO report, as well as the unexpected manner in which accounts may be considered to be “abandoned” for purposes of some state laws on “escheatment” (i.e., forfeiture).
A new Congress typically offers hope that constructive retirement-related bills will be submitted (or resubmitted). Bills for the new year have begun to be introduced now that the 116th Congress has convened. But if this Congress is like its predecessor, partisan disputes may limit its ability to pass new legislation.
This edition of Legislative Update will recap pension-related legislation passed by the 115th Congress in 2018, review a number of topics that shared the spotlight in 2018 and assess the prospects for their further development in 2019.
In this edition of Washington Insights, we address two retirement-related topics in the news recently.
First, we will review proposed hardship regulations issued in November 2018.
Second, we will take a look at the recent concern over the status and viability of multiemployer pension plans.
The recently-introduced Commission on Retirement Security Act of 2018 (listed in the “Retirement reform” section below) would establish a federal commission to review private retirement benefit programs and report to Congress on how to improve private retirement security in the United States