Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
On April 23, 2024, the U.S. Department of Labor (“DOL” or “Department”) issued a final regulatory package amending its fiduciary investment advice regulation and revising numerous existing prohibited transaction exemptions...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
On March 11, 2024, President Biden released his budget for Fiscal Year 2025. Hewing closely to proposals in its last budget, the Administration’s new budget proposes a number of major tax increases, including the following...more
On March 9, 2023, President Biden released his budget for Fiscal Year 2024. Similar to proposals in its last budget, the Administration’s new budget proposes a number of major tax increases, including the following:...more
4/4/2023
/ Biden Administration ,
Compensation & Benefits ,
Employee Benefits ,
Federal Budget ,
Future Tax Treatment ,
Health Insurance ,
Infrastructure ,
Retirement ,
Retirement Plan ,
Tax Liability ,
Tax Reform
The landmark legislation aimed at modernizing the retirement system, SECURE 2.0, has finally arrived, and with its 90 provisions, there is a lot to unpack.
On Wednesday, January 4, 2023 at 2:00 – 3:00 p.m. ET, Groom...more
12/30/2022
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Deadlines ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
Webinars
Yesterday, the Senate passed the Consolidated Appropriations Act of 2023 (the “CAA”) to fund the government through September 30, 2023. Division T of the legislation is the SECURE 2.0 Act of 2022 (“SECURE 2.0”), which builds...more
In June, the Senate committees with jurisdiction over retirement approved their versions of retirement reform legislation. The Senate bills are the Enhancing American Retirement Now Act (unnumbered, the “EARN Act”), which was...more
Over the years, many plan sponsors have accumulated surplus assets in their pension and welfare benefit programs for various reasons. Typically, surplus assets have been generated in these mature programs through some...more
On March 29, the House overwhelmingly passed H.R. 2954, the Securing a Strong Retirement Act of 2021 (“SSRA”), by a vote of 414-5. This alert contains Groom’s summary of the legislation as passed by the chamber....more
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”) into law. IIJA contains two sections that may affect qualified retirement plans....more
On September 15, the House Ways and Means and Energy and Commerce Committees advanced components of the Democrats’ $3.5 trillion budget reconciliation package (“Budget Legislation” or “the Legislation”). The Legislation...more
Groom has prepared a comparison here of the provisions in two key retirement bills being considered by the 117th Congress: the Securing a Strong Retirement Act of 2021 (H.R. 2954, “SECURE 2.0”) and the Retirement Security &...more
Securing a Strong Retirement Act of 2021 as marked up by the House Ways and Means Committee on May 5, 2021....more
The House Ways and Means Committee has just approved the bipartisan Securing a Strong Retirement Act, often referred to as SECURE 2.0. Groom’s policy team will be hosting a brief discussion of the bill as well as the...more
5/7/2021
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Legislative Agendas ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
Webinars
In recent months, two competing visions for multiemployer pension reform legislation have been introduced in Congress....more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (Pub. L. 116-94, Division O, the “SECURE Act”) created a new structure through which completely unrelated employers can participate in a single defined...more
8/28/2020
/ Comment Period ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Form 5500 ,
PEP ,
Proposed Rules ,
Retirement Plan ,
Retirement Plan Providers ,
Rulemaking Process ,
SECURE Act
The House of Representatives recently passed a fourth round of legislation in response to the COVID-19 pandemic. The bill – called the Health and Economic Recovery Omnibus Emergency Solutions Act (the “HEROES Act” or the...more
6/1/2020
/ CARES Act ,
COBRA ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Families First Coronavirus Response Act (FFCRA) ,
Health and Welfare Plans ,
Health Insurance ,
Legislative Agendas ,
Pensions ,
Relief Measures ,
Retirement Plan
Effective March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) brings immediate changes and relief to 401(k) plans, similar to natural disaster relief issued in the past. ...more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019. ...more
2/13/2020
/ 401k ,
Compensation & Benefits ,
Employee Benefits ,
Form 5500 ,
Individual Retirement Account (IRA) ,
New Legislation ,
Part-Time Employees ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Planning ,
Tax Rates