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Andrew Remo

By Andrew Remo | 8/31/2023
The American Retirement Association (ARA) was recently informed of a legal scheme in Texas—a community property state—that allows younger workers to raid up to 100% of their defined contribution (DC) plan (such as a 401(k), 403(b) or 457 plan) account balance without incurring the tax penalty for... READ MORE
By Andrew Remo | 7/24/2023
July is a good time to take stock of where things stand with respect to the multitude of state laws and programs to address the retirement plan coverage gap in the private sector workforce. By the time July rolls around on the calendar all but a handful of state legislatures have completed their... READ MORE
By Andrew Remo | 7/3/2023
The lack of guidance to help implement a major new retirement plan design requirement contained in the new SECURE 2.0 Act is causing increased heartburn in the retirement plan stakeholder community.    Over 200 organizations recently wrote a letter to the four leaders of the tax law writing... READ MORE
By Andrew Remo | 3/15/2023
Mark Twain said, “History never repeats itself, but it does often rhyme.” So, tell me if you have seen this before. The Republican Party is ascendent after a mid-term election result that saw them gain the majority in the House of Representatives, which they consider a clear repudiation of the... READ MORE
By Andrew Remo | 2/2/2023
The dust is still settling from the enactment of the SECURE 2.0 Act at the end of December. The SECURE 2.0 Act is a massive bill comprising 92 provisions in 358 pages of dense legislative text. The retirement policy portion of tax law—residing mainly in the “400s” sections of the Internal Revenue... READ MORE
By Andrew Remo | 2/17/2021
Five years after it was first introduced, the initiative to create a state-based retirement program for the private workforce in the Commonwealth of Virginia has taken a major leap forward—with a key change pushed by the American Retirement Association. On Feb. 16 the Virginia Senate Finance and... READ MORE
By Andrew Remo | 6/10/2020
The COVID-19 pandemic has changed our lives in ways both large and small that seemed unimaginable only a few weeks ago—but the need for your advocacy on critical retirement issues is greater than ever.  One of the more significant changes, if one still has a job, is the switch from working in an... READ MORE
By Andrew Remo | 3/20/2020
The CARES Act includes provisions advocated by the American Retirement Association that loosen retirement plan hardship and loan rules to free up funds for individuals impacted by the Coronavirus pandemic. Life (and legislation) has been coming at us fast in March, as the country and Congress... READ MORE
By Andrew Remo | 12/4/2019
The Bay State’s Securities Division of the Office of the Secretary of the Commonwealth has formally released new proposed fiduciary conduct standards for broker-dealers, agents, investment advisers and investment adviser representatives – but how does it view ERISA’s fiduciary standard? The... READ MORE
By Andrew Remo | 4/2/2019
The leaders of the Senate Finance Committee, Chairman Charles Grassley (R-IA) and Ranking Member Ron Wyden (D-OR), have introduced the Retirement Enhancement and Savings Act (RESA) once again.  The Senate action comes as members of the House Ways & Means Committee are poised to pass its own... READ MORE
By Andrew Remo | 3/5/2019
Of late, we’ve been getting a lot of questions about legislation that would create open multiple employer plans (MEPs). Here’s the update.  Ever since the Department of Labor issued an explicit ruling in 2012 that an open MEP is not a single employee benefit pension plan but a group of single... READ MORE
By Andrew Remo | 2/8/2019
Another state has moved to impose its own fiduciary standard with no ERISA exemption. The Maryland legislature aims to implement a state level fiduciary standard through a comprehensive consumer protection bill introduced Feb. 4 by State Sen. Jim Rosapepe. The bill grants authority through the... READ MORE
By Andrew Remo | 2/7/2019
The Retirement Enhancement and Savings Act (RESA) has been reintroduced in the new Congress. The bill introduced on Feb. 6 is bipartisan – sponsored by Reps. Ron Kind (D-WI) and Mike Kelly (R-PA) – as was the one introduced nearly a year ago by the same duo. The bill, which is a replica of last... READ MORE
By Andrew Remo | 11/27/2018
House Republicans released a wide-ranging tax package on Monday night – including a number of retirement savings provisions – setting the stage for negotiations on a year-end tax package as the 115thCongress comes to a close.The main components of the package (the Retirement, Savings, and Other Tax... READ MORE
By Andrew Remo | 4/19/2018
While the Securities and Exchange Commissioners were hardly unanimous in their assessment, they voted 4-1 to release for public comment a set of proposals to “enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a... READ MORE
By Andrew Remo | 4/18/2018
Members of a House subcommittee pressed IRS representatives this week to explain their recent decision to dramatically increase the cost to small businesses of remedying retirement plan mistakes.An April 17 hearing held by the House Small Business Subcommittee on Economic Growth, Tax, and Capital... READ MORE
By Andrew Remo | 3/16/2018
For the first time, the Retirement Enhancement and Savings Act (RESA) has gotten some traction in the U.S. House of Representatives – and on a bipartisan basis.Reps. Mike Kelly (R-PA) and Ron Kind (D-WI) – along with 14 other Democratic and Republican cosponsors – introduced H.R. 5282 in the House... READ MORE
By Andrew Remo | 3/9/2018
In a rare moment of bipartisan cooperation, the two leaders of the Senate Finance Committee – Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) – have reintroduced the Retirement Enhancement and Savings Act (RESA).This bill makes a number of important changes to the employer sponsored... READ MORE
By Andrew Remo | 2/23/2018
Concerned that the Labor Department’s fiduciary rule could be pared back, Maryland is considering extending fiduciary duty under state law.The Maryland Senate Finance Committee held a hearing on proposed legislation on Feb. 22, following a Feb. 16 hearing on the legislation by the Maryland House... READ MORE
By Andrew Remo | 11/3/2017
UPDATED NOV. 8While much of the focus has been on the potential “Rothification” of 401(k) plans, the Tax Cuts & Jobs Act included a number of other retirement plan-related provisions, including changes that impact hardship withdrawals and loans.Among the provisions of Title I, Subtitle F of the... READ MORE