What do Congress and federal regulators have in store for the retirement industry in 2013? According to Aon Hewitt, although health care will get the most attention on the benefits front, retirement issues will get their fair share of attention from federal regulators, including:
• Definition of fiduciary (DOL)
• Lifetime income options (DOL)
• Cash balance and hybrid plans (IRS)
• TDF disclosures (DOL)
• PBGC/pension funding
In addition, there’s talk that regulators will provide more guidance on unaffiliated MEPs, and may revise or clarify the fee disclosure rules as many providers question their implementation. And will the federal government get involved with the pension funding crisis brewing in many states and local municipalities?
On Capitol Hill, the big discussion coming soon in Congress, of course, will be whether tax incentives for retirement plans will be cut to balance the budget.
No fear – NAPA Net will keep you informed on all these issues, with direct access to the Washington insiders and thought leaders at ASPPA and NAPA.
