Legislative Documents – Reform Proposals

2013 2014 2015

protected content Obama Administration Releases FY 2016 Budget with Retirement Policy Provisions

Today, the President released the Fiscal Year 2016 Budget of the U.S. Government (“FY 2016 Budget”). As the Administration has been releasing pieces of the FY 2016 Budget over recent days… More

protected content Senators Cardin and Portman Introduce Frozen Plans/Nondiscrimination Testing Relief Legislation

Senate Finance Committee Members Ben Cardin (D-MD) and Rob Portman (R-OH) once again have teamed up on retirement security issues by introducing legislation to provide relief from ongoing nondiscrimination testing for frozen defined benefit plans, subject to certain conditions. … More

protected content Ways and Means Subcommittee on Select Revenue Measures Holds Hearing on Defined Benefit Plans

Today, the Ways and Means Subcommittee on Select Revenue Measures held a hearing on Private Employer Defined Benefit Pension Plans. The focus on the hearing was the challenges facing employers, employees and retirees who rely on defined benefit pension plans to help provide retirement security. The hearing focused on single employer and multiemployer issues.… More

protected content Senate Finance Committee Holds Hearing on Retirement Savings Policy

Today, the Senate Finance Committee held a hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy.” Chairman Ron Wyden (D-OR) opened the hearing by stating that it appears tax incentives for retirement savings are not skewed towards those Americans who need them the most. … More

protected content Senate Finance Committee and Ways and Means Subcommittee Schedule Hearings on Pension Reform Issues

Before Congress recesses for the mid-term elections, there are a number of retirement-related activities scheduled over the next week. Both the Senate Finance Committee and the House Ways and Means Subcommittee on Select Revenue Measures plan to hold hearings on retirement issues next week. In addition, we understand that the full Senate is scheduled to vote on Senator Harkin’s Manager’s Amendment that would reform ERISA section 4062(e) (S. 2511). … More

protected content JCT Tax Expenditure Report Demonstrates Risk to Benefits

On August 5, the Joint Committee on Taxation (JCT) released its tax expenditure report for 2014 through 2018. The tax expenditure report discusses and assesses forgone federal tax revenue values for the tax rules that exempt taxpayers from (or allow them to defer into the future) otherwise taxable income. … More

protected content Representative Tiberi Introduces Frozen Plans/Nondiscrimination Testing Relief Legislation

On July 31, 2014, Representative Pat Tiberi (R-OH), introduced H.R. 5381, which would provide relief from ongoing nondiscrimination testing for frozen defined benefit plans, subject to certain conditions. … More

protected content Ways and Means Chairman Camp Unveils Tax Reform Discussion Draft

House Ways and Means Committee Chairman Dave Camp (R-MI) earlier today released a “discussion draft” of his tax reform proposal. The proposal aims to broaden the tax base in order to cut and streamline the federal income tax rates for individuals and companies.… More

protected content Senator Harkin Introduces USA Retirement Funds Act

Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin (D-IA), along with Senator Brown (D-OH), on January 30 introduced the USA Retirement Funds Act. ERIC has been working with Senator Harkin’s staff on various provisions of this bill, especially the provisions involving hybrid plan clarifications … More

protected content Senator Hatch Legislation Includes Significant Pension Reforms

Senate Finance Committee Ranking Member Orrin Hatch (R-UT) on July 9 introduced legislation that would make extensive reforms to both private and public retirement plan rules. … More

protected content Senate Finance Releases Option Paper on Retirement & Health Tax Expenditure Changes under Tax Reform

Yesterday, the Senate Finance Committee released its “options” paper on retirement and health policy changes and tax reform. This is option paper number 7 in a series that the Senate Finance Committee has released as a result of its meetings with members and staff on options to consider under tax reform by subject matter.… More

protected content Representative Neal Reintroduces Retirement Simplification Legislation

This week, Representative Neal (D-MA) introduced The Retirement Plan Simplification and Enhancement Act of 2013. This bill is a reintroduction of H.R. 4050 from last year, with some changes. … More

protected content JCT Issues Report on Ways and Means Working Groups on Tax Reform

The Joint Committee on Taxation released its 568-page report on “Present Law and Suggestions for Reform Submitted to the Tax Reform Working Groups” on May 6th. In February 2013, the Ways and Means Committee created 11 Working Groups – each assigned a designated area of the tax code – in order to review current tax law and ideas for tax reform.… More

2013 2014 2015