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Judy Miller
By Judy Miller | 3/16/2016
Buried in a recent Treasury Department regulation is a provision that will make it harder for small businesses to form new retirement plans or maintain their current ones. The regulation, in proposed form, imposes a new “reasonable classification” requirement on cross-tested plans. To be considered...
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By Judy Miller | 2/2/2016
The Senate Finance Committee held a hearing Jan. 28 on “Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement Savings Plans.” Chairman Orrin Hatch (R-Utah) noted in his opening remarks that the hearing would allow the full committee to hear more...
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By Judy Miller | 12/15/2014
Lawmakers have crafted and approved a sweeping bipartisan solution to address the mammoth funding shortfalls of the multiemployer plan system — a solution that is likely to have a long-term impact on defined benefit pension plans for both single and multiemployer arrangements.The changes mean that...
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By Judy Miller | 11/17/2014
When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different? Will Congress use retirement savings as its own piggy bank, or can we hope for something better? Might there even be real progress in expanding...
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By Judy Miller | 6/26/2014
The Senate Finance Committee met June 26 to consider a modified chairman’s mark of revenue raisers to pay for an extension of the highway trust fund through the end of the year. The hearing adjourned with no action, but with the stated intention of reconvening to mark up a proposal early in the...
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By Judy Miller | 6/3/2013
Last week the Congressional Budget Office issued a report on the distribution of major tax expenditures, including the expenditure for “net pension contributions and earnings.” The study was requested by Rep. Chris Van Hollen (D-MD), the ranking member of the House Committee on the Budget. The...
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By Judy Miller | 5/28/2013
On May 23, members of the Senate Finance Committee met for one of 10 private briefings on tax reform options. This briefing was on “economic security” topics, including retirement savings. While no specific recommendations were made, the paper that committee staff prepared for the briefing included...
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By Judy Miller | 2/28/2013
If California’s proposed retirement savings program gets through the study stage and is actually implemented, California will have the first automatic payroll deduction IRA program in the nation. Under the program, all non-governmental California employers with five or more employees would be...
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