The Federal Reserve pegged total student loan debt in America at $1.73 trillion at the end of the third quarter of 2023, averaging just over $38,000 per borrower.
It’s a problem; plan advisors... Read More
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Legislation
BY NAPA Net Staff | 3/27/2024
BY John Sullivan | 3/22/2024
It’s the latest iteration of the auto revolution (enrollment, escalation, portability). While not directly related to 401(k)s, an idea for automatic adjustments involves retirement income—... Read More
BY Ted Godbout | 3/22/2024
As the Department of Labor works in court to defend its rule allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, legislation to... Read More
BY Ted Godbout | 3/11/2024
Harkening back to the early days of the administration, President Biden’s fiscal year 2025 budget, once again, proposes significant tax increases on corporations and upper-income taxpayers, including... Read More
BY John Sullivan | 3/7/2024
[Updated: On Friday morning, the House passed H.R. 2799, Expanding Access to Capital Act of 2023, the larger bill that included the CITs in 403(b)s amendment, on a party line vote... Read More
BY John Sullivan | 3/6/2024
Movement on the issue of allowing 403(b)s to use collective investment trusts (CIT) could happen Wednesday with a possible House vote on the Retirement Fairness for Charities and Educational... Read More
BY Nevin E. Adams, JD | 3/5/2024
I’m not sure how old I was when I first saw “Night of the Living Dead”—but I have long been intrigued by stories of a zombie apocalypse—where mindless beings inexplicably rise from the dead, with no... Read More
BY John Iekel | 3/1/2024
A bill currently before the Georgia legislature would affect the exercise of fiduciary duty regarding the investment of retirement plan assets. The legislation includes a provision that would require... Read More
BY Ted Godbout | 2/28/2024
A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are... Read More
BY Ted Godbout | 2/22/2024
Amid the recent attacks on the 401(k) savings system, the key Senate committee with jurisdiction over ERISA plans to hold a hearing next week to examine what it describes as “confronting the... Read More
BY John Sullivan | 2/7/2024
On Wednesday, House Ways and Means Committee Ranking Member Richard Neal (D-Mass.) introduced a bill to establish a federal auto-IRA for employers with more than 10 employees who do not currently... Read More
BY Ted Godbout | 2/7/2024
To “protect Americans’ affordable access to financial markets,” two Republican senators have introduced legislation to block the Securities and Exchange Commission (SEC) from finalizing its proposed... Read More
BY Ted Godbout | 2/1/2024
A powerful group of Democratic lawmakers has introduced legislation to help children start saving early for retirement by establishing a savings account for every child in America.
The bicameral... Read More
BY John Sullivan | 1/31/2024
AARP endorsed the bipartisan—and controversial—Retirement Savings for Americans Act (RSAA), which provides a boost to advocates of a federally sponsored retirement plan for uncovered private-... Read More
BY John Sullivan | 1/30/2024
Minnesota Democratic Congresswoman Angie Craig reintroduced legislation last week to eliminate federal taxes on Social Security benefits for seniors. The bill would extend full benefits for two... Read More
BY Nevin E. Adams, JD | 1/23/2024
Last week, a trio of academics rolled out a plan to “save” Social Security—by undermining the 401(k).
Their “plan” is diabolically simple, though not unique. They’d just take away the tax... Read More
BY Ted Godbout | 12/27/2023
For those looking for an official analysis and explanation of the SECURE 2.0 Act of 2022, Congress’ Joint Committee on Taxation (JCT) has just posted a helpful resource.
Prepared by the staff of... Read More
BY Ted Godbout | 12/20/2023
In a preemptive move to protect financial markets and the retirement savings system from being unfairly manipulated by AI-generated content, a bipartisan pair of senators introduced legislation to... Read More
BY Ted Godbout | 12/15/2023
As the impact of unpaid family caregiving takes a toll on the ability to save for retirement, newly introduced legislation seeks to alleviate some of that stress.
Reps. Claudia Tenney (R-NY) and... Read More
BY John Sullivan | 12/13/2023
Reps. Darin LaHood (R-Ill.) and Linda Sánchez (D-Calif.) introduced a bill on Wednesday that would allow retirement savers to roll over their Roth IRA savings into a Roth workplace retirement plan... Read More
BY Ted Godbout | 12/6/2023
In a positive sign that lawmakers are committed to fixing several errors contained in the SECURE 2.0 Act, the House and Senate have just released a draft technical corrections bill, including changes... Read More
BY John Sullivan | 12/5/2023
On Tuesday, Congressman Patrick McHenry (R-N.C.), the House Financial Services Committee chairman who went viral with a gavel-banging incident when serving as temporary Speaker of the House in the... Read More
BY Andrew Remo | 11/27/2023
It has been nearly a year since Congress passed the SECURE 2.0 Act. As the name of the bill suggests, that law was the second significant retirement savings policy bill enacted in the span of five... Read More
BY John Sullivan | 11/21/2023
Closing the coverage gap wherever and whenever possible is a significant industry priority in the face of potential federal involvement in private retirement plans.
One recently introduced... Read More
BY Ted Godbout | 11/15/2023
It’s been a couple of fast-moving days for the Department of Labor’s (DOL) proposal to amend the definition of investment advice fiduciary, as the House GOP has stepped up efforts to block the DOL... Read More
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