Rumors notwithstanding, the House Ways & Means Committee tells NAPA Net, the Committee has no plans to revisit Rothification as part of the new tax reform discussions.In response to an earlier... Read More
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Legislation
BY Ted Godbout | 6/28/2018
UPDATED JUNE 29Note: On June 29, the House Ways & Means Committee indicated that the Committee has no plans to revisit Rothification as part of the new tax reform discussions. Click here for... Read More
BY NAPA Net Staff | 6/26/2018
The American Retirement Association is asking Congress to expand the self-correction program (SCP) within the IRS’ Employee Plans Compliance Resolution System (EPCRS) to enable businesses with... Read More
BY NAPA Net Staff | 6/1/2018
There’s a bill currently in Congress that would essentially remove fiduciary responsibility for small plan sponsors – and perhaps the need for retirement plan advisors.The bill – H.R. 4523 – also... Read More
BY John Iekel | 5/29/2018
A measure before the U.S. Senate would create a new federal commission to recommend ways to improve Americans' retirement security.The Commission on Retirement Security Act of 2018 (S. 2753) would... Read More
BY Ted Godbout | 5/28/2018
Legislation that provides employees at financial institutions with immunity when voluntarily disclosing the possible financial abuse of elders was signed into law as part of broader legislation to... Read More
BY Ted Godbout | 5/17/2018
The House Education and the Workforce’s Subcommittee on Health, Employment, Labor and Pensions heard testimony May 16 on four retirement-related bills that members are confident will be approved... Read More
BY NAPA Net Staff | 5/14/2018
Bipartisan legislation has been introduced in the Senate that would support small businesses that “invest in and reward their workers and communities” by transitioning to an employee stock ownership... Read More
BY Ted Godbout | 3/30/2018
Twenty years after the last major overhaul of the IRS, key members of Congress on both sides of the aisle believe the agency is long overdue for a makeover and needs to return to its “service first”... Read More
BY Joseph A. Caruso, III | 3/21/2018
For the moment, anyway, the Old Line State has stepped back from crossing a line that would have established its own fiduciary rule.On March 19, the Financial Consumer Protection Act of 2018 (MD SB... 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... 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... Read More
BY Ted Godbout | 3/5/2018
As the dust settles on the Tax Cuts and Jobs Act and attention turns to other legislative initiatives, is there a chance we will see any retirement policy legislation in 2018?In NAPA’s Feb. 27... Read More
BY NAPA Net Staff | 3/5/2018
Legislation has been introduced to address the proliferation of small accounts that the bill’s sponsors say is costing Americans tens of billions of dollars every year in lost savings because of cash... Read More
BY Ted Godbout | 2/9/2018
The two-year budget agreement that Congress passed in the early morning hours of Friday, Feb. 9 includes several tax policy changes affecting retirement plans.In general, the amended version of the... Read More
BY Ted Godbout | 2/8/2018
Witnesses at a Feb. 6 Senate committee hearing debated current challenges and offered several policy proposals to help so-called “gig economy” workers save for retirement.At the Senate HELP... Read More
BY NAPA Net Staff | 1/10/2018
Bipartisan legislation that proponents say will provide funding relief for some multiemployer plans could emerge shortly, according to published reports.Reps. Donald Norcross (D-NJ) and Phil Roe (R-... Read More
BY NAPA Net Staff | 1/10/2018
Sen. Sheldon Whitehouse (D-RI) will join the Senate Finance Committee, Senate Minority Leader Chuck Schumer (D-NY) announced Jan. 9.The appointment of Whitehouse to the powerful Finance Committee... Read More
BY Ted Godbout | 1/4/2018
Sen. Orrin Hatch (R-UT), one of the longest-serving U.S. senators and current chairman of the powerful Finance Committee, announced Jan. 2 that he will be retiring at the end of the current Congress... Read More
BY Ted Godbout | 1/2/2018
While the new tax law avoided making major changes to the existing retirement tax provisions, the same cannot be said for the tax treatment of executive compensation and related provisions.In the... Read More
BY Ted Godbout | 12/27/2017
As part of its year-end legislative push, the U.S. House of Representatives approved legislation on Dec. 21 extending to victims of the California wildfires access to their 401(k)s and similar plans... Read More
BY Ted Godbout | 12/26/2017
Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456... Read More
BY Ted Godbout | 12/21/2017
After facing a number of trials and tribulations as it made its way through the legislative process, Congress did, in fact, approve landmark tax reform legislation on Dec. 20, clearing the measure... Read More
BY Ted Godbout | 12/20/2017
Congressional Republicans and President Trump are on the verge of enacting broad-based tax reform legislation once the House of Representatives approves the legislation for the second time in two... Read More
BY Ted Godbout | 12/18/2017
House and Senate tax negotiators agreed on the final tax reform legislation Dec. 15, but they had to make some additional changes to pick up support from some wavering members. How did retirement... Read More
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