Retirement Policy Insights - Summer 2020

Jul 1, 2020 | Jon Vogler

On May 21, 2020, the Department of Labor (DOL) published its much-anticipated final rule to expand the ability of employers to communicate mandated retirement plan disclosures and other information online or by email. The final rule is substantially similar to the DOL’s proposed rule on this topic issued last year. It allows employers to deliver disclosures to plan participants electronically by default, with the ability for participants to opt in to paper mailings if preferred.

Retirement Policy Update – Spring 2020

Jun 2, 2020 | Jon Vogler

Beyond the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief and Economic Security (CARES) Act, here is a list of some notable retirement-related bills introduced over the last several months.

Retirement Policy Insights – Spring 2020

May 14, 2020 | Jon Vogler

Retirees face difficult decisions. They have to decide how much to withdraw each year from their 401(k) plans and individual retirement accounts (IRAs), and face the risk of either spending too quickly and outliving their resources or spending too conservatively and consuming too little. In addition, they must consider how and when to draw down their Social Security retirement benefits, and how to invest their savings after retirement.

Legislative Update – Winter 2020

Mar 19, 2020 | Jon Vogler

Up until year end, 2019 had not been a particularly active year for retirement-related legislative initiatives — but the year ended with a flourish with the passage of the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), the first major piece of retirement legislation since the Pension Protection Act in 2006.

Washington Insights – Winter 2020

Feb 1, 2020 | Jon Vogler

On Dec. 20, 2019, US President Donald Trump signed sweeping spending bills that included a long-sought, comprehensive retirement security package.1

Legislative Update - Fall 2019

Oct 4, 2019 | Jon Vogler

Even though Congress was on vacation for several weeks, some notable bills were recently introduced in the last quarter:

The Automatic IRA Act of 2019 (in the “IRAs” section) would expand personal savings and retirement savings coverage by enabling employees not covered by qualifying retirement plans to save for retirement through automatic IRA arrangements. Exceptions would be made for small or new employers, as provided in the bill, as well as for church or governmental organizations.

A House concurrent resolution (in the “Multi-employer plans” section) would establish the Joint Select Committee on Solvency of Multi-Employer Pension Plans, which will provide recommendations and legislative language that will significantly improve the solvency of multi-employer pension plans (which are typically defined benefit pension plans for union employees) and the Pension Benefit Guaranty Corporation (PBGC).

Legislative Update - Summer 2018

Jul 24, 2018 | Jon Vogler

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