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Andrew Remo

By Andrew Remo | 7/7/2015
While the Labor Department’s fiduciary reproposal (and the hearings slated for mid-August) will garner most of the attention, what will Congress be focused on before leaving town for the August recess?Having enacted key elements of President Obama’s trade agenda, Congress is now expected to focus... READ MORE
By Andrew Remo | 3/26/2015
The Securities and Exchange Commission and Department of Labor are both working on fiduciary issues — but their different approaches appear to be on different schedules.Earlier this week it was SEC Chair Mary Jo White’s turn to take questions from Congress regarding the commission’s plan to impose... READ MORE
By Andrew Remo | 3/19/2015
Secretary of Labor Thomas Perez used his first appearances before the 114th Congress this week to deliver a full-throated defense of the DOL’s controversial effort to expand the fiduciary standard of care to financial service providers under the jurisdiction of the Department.  Perez appeared at... READ MORE
By Andrew Remo | 3/3/2015
Legislation that would require Maryland employers to adopt payroll deduction savings plans for their employees got a full airing in both chambers of the state's General Assembly.  Both the Maryland House Economic Matters Committee and the Maryland Senate Budget and Taxation Committee considered... READ MORE
By Andrew Remo | 2/27/2015
Add Washington to the list of states that are considering legislation affecting the marketplace for private retirement plan products. State Rep. Larry Springer (D-Kirkland) has introduced a bill to create a “small business retirement plan marketplace” with the goal of “removing barriers to entry... READ MORE
By Andrew Remo | 1/30/2015
The 114th Congress has gotten off to a quick start with retirement legislation.This week the “Collins-Nelson Retirement Security Act of 2015” (S. 266) was introduced in the Senate, while a companion bill, the "Retirement Security Act of 2015” (H.R. 557) was introduced in the House. The former was... READ MORE
By Andrew Remo | 11/21/2014
He’s baaaccckkkk… Yale Law School professor Ian Ayres — yes, that Ian Ayres – made a presentation at a Nov. 19 public hearing held by the Connecticut Retirement Security Board that featured an interesting proposal. You may recall that in 2013, Ayres sent more than 6,000 letters to plan sponsors... READ MORE
By Andrew Remo | 11/5/2014
NAPA, ASPPA and NTSA submitted a joint letter Nov. 3 to the Connecticut Retirement Security Board (CRSB) in response to the board’s request for public comment in order to help the CSRB develop and implement a state-run plan for employees of private employers.  In the letter, the three sister... READ MORE
By Andrew Remo | 9/19/2014
Three key players in the formulation and design of the auto-IRA concept came together at a Sept. 17 policy forum in Washington, D.C. to offer perspective and an assessment of the road ahead. Two of the panelists at the 2014 Assets Learning Conference, held by the non-profit Corporation for... READ MORE
By Andrew Remo | 8/29/2014
Its authors may not have led with that title, but a recent paper calls for wholesale changes to the way Americans currently save for retirement, including suspending all defined contribution savings arrangements because “they are complex, costly, and challenging for employers and employees... READ MORE
By Andrew Remo | 8/14/2014
The Joint Committee on Taxation (JCT), the congressional scorekeeper of tax legislation, on Aug. 5 issued its latest estimates of the increasing costs of the tax incentives for retirement savings. The numbers are eye-popping.  JCT projects that: • the tax exclusion for savings in DC plans... READ MORE
By Andrew Remo | 7/22/2014
Congress is expected to wrap up its business for the summer in the next two weeks as members continue to work through an extremely limited set of issues in which the two parties can find common ground in this election year.    The first of those issues to address is transportation infrastructure... READ MORE
By Andrew Remo | 6/3/2014
The political dynamic at play between the House of Representatives and the Senate regarding the annual federal spending bills also applies to taxes, as Congress considers tax legislation that includes provisions impacting IRAs and multi-employer pension plans. As with federal spending bills, the U.... READ MORE
By Andrew Remo | 5/22/2014
The Joint Economic Committee, a bicameral congressional committee charged with studying matters relating to the United States economy, held a hearing May 21 that examined the unique issues that women face in retirement. Sen. Amy Klobuchar (D-MN), vice-chair of the committee, convened the hearing to... READ MORE
By Andrew Remo | 5/14/2014
Lauding the federal Thrift Savings Plan as “one of the most efficient savings plans in America,” Sen. Marco Rubio (R-FL) urged that the DC plan for federal employees be made available to private workers nationwide. Rubio, a potential 2016 presidential candidate, floated the idea in a May 13 speech... READ MORE
By Andrew Remo | 5/9/2014
The Connecticut legislature passed legislation (scroll down to Sections 180-185, starting on page 239) May 8 that would establish a board to first study, and then implement, a public retirement plan for private sector employers. The measure awaits the signature of Gov. Dannel Malloy (D). This... READ MORE
By Andrew Remo | 2/28/2014
Testifying at a Feb. 26 Senate Finance Subcommittee hearing on retirement savings for low-income workers, Judy Miller, the Director of Retirement Policy for ASPPA and NAPA, explained how the current private employer-sponsored retirement plan system is working for tens of millions of American... READ MORE
By Andrew Remo | 2/27/2014
Rep. Dave Camp (R-MI), Chairman of the House Ways and Means Committee, released his long-awaited comprehensive tax reform proposal on Feb. 26. Unfortunately, the proposal attacks the current tax incentives for retirement savings in a variety of ways. Double Taxation of Retirement SavingsCamp’s... READ MORE
By Andrew Remo | 2/21/2014
Following in the footsteps of California, the Maryland legislature is considering legislation that would require nearly all private businesses in the state to provide a workplace retirement savings plan for their employees. The bill would also establish the Maryland Secure Choice Savings Trust,... READ MORE
By Andrew Remo | 2/6/2014
It was “retirement savings proposal week” on Capitol Hill last week. President Obama — via his State of the Union speech and subsequent executive action — and members of Congress who introduced bills sparked a national debate about how best to encourage individuals to save for retirement. Here’s a... READ MORE

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