Letters to Congress – 401(k) Plans

2013 2014 2016 2017 2018 2019

ERIC Advocates for Legislation to Improve Retirement Security

ERIC has been actively advocating for improvements to the private retirement system. ERIC submitted a statement to the Senate Finance Committee’s hearing on the Retirement Enhancement Security Act… More

protected content Retirement Legislation Introduced, Senate Finance Committee Hearing, Regular Rate Proposal

ERIC submits letters on new retirement legislation and Senate Finance Committee hearing; DOL extends comment period for regular rate of pay proposal… More

protected content PBGC Director Confirmed and IRS Determination Letter Program Partially Re-opened

On April 30, Congress confirmed Gordon Hartogensis as the new director of the PBGC. ERIC sent a letter of support earlier in this process and looks forward to working with him on maintaining PBGC premium levels for single-employer plans and addressing the multiemployer pension crisis… More

ERIC Urges Lawmakers to Modify Lifetime Income Disclosure Provisions

ERIC sent a letter to U.S. Representative Richard Neal (D-MA), Chairman of the House Ways and Means Committee, urging him to modify the Lifetime Income Disclosure Act provision currently contained in the Retirement Enhancement & Savings Act and the newly introduced SECURE Act… More

ERIC Asks Congress to Rethink Retirement Disclosure Responsibility of Employers

ERIC sent a letter to Congress expressing support for the passage of retirement legislation that would enhance retirement savings opportunities during this Congress. The letter also asked that lawmakers modify the Lifetime Income Disclosure Act (LIDA) provision, making options more effective and flexible for plan sponsors… More

Legislative Proposal to Expand SCP

ERIC, along with other organizations, sent a letter to Senators Orrin Hatch and Ron Wyden with a proposal to restructure IRS operations. The proposal would direct the IRS to expand the self-correction program within the IRS’s Employee Plan Compliance Resolution System, to enable businesses with retirement plans to more easily correct common mistakes… More

Joint Association Letter Regarding Missing and Unresponsive Participants

On behalf of the undersigned organizations, we thank you for the meeting we had with your senior staff on May 16 regarding the issue of missing and unresponsive participants and beneficiaries. While we were sorry you could not attend, we had a productive dialogue with staff from the Department of Labor’s Employee Benefits Security Administration (EBSA)… More

ERIC Letter to Chairman Hatch on Tax Reform Legislation

The ERISA Industry Committee applauds your efforts to develop tax reform legislation without adversely impacting the ability of workers and families to save for retirement. We look forward to working with you to advance retirement savings measures in future legislation… More

Letter to Chairman Hatch on Tax Reform

Today, ERIC sent a letter to Chairman Hatch regarding provisions in the Senate tax reform mark… More

Letter to House Ways and Means Chairman Brady About Elimination of Section 127

The Coalition to Preserve Employer Provided Education Assistance, of which ERIC is a member, sent a letter on behalf of the Coalition urging Chairman Brady to reconsider the elimination of Section 127, employer provided education assistance, in H.R. 1, the tax reform bill… More

Coalition to Protect Retirement Sends Letter to Senators Hatch and Wyden

Today, ERIC signed onto a letter sent to Senator Hatch and Senator Wyden on behalf of the Coalition to Protect Retirement, of which ERIC is a founding member. This coalition is comprised of trade associations that represent retirement plan sponsors, administrators, service providers, and related financial institutions… More

ERIC Joins Others in Supporting Section 127 of Internal Revenue Code

In response to Senate Finance Committee Chairman Orrin Hatch's request for submissions on tax reform, ERIC signed onto a letter that was sent to Sen. Hatch and the Committee's Ranking Member, Senator Ron Wyden… More

ERIC Raises Concerns About Lifetime Income Disclosure Act

We are writing to you today in regards to the re-introduction of the Lifetime Income Disclosure Act in the 115th Congress. We applaud your efforts on putting forth policy proposals that focus on the importance of retirement savings for American workers. With respect to the legislation, we remain concerned that the mandate on employers to include the annuitized amount on retirement plan participant statements will only increase the cost to operate a plan and lead to mass confusion among participants… More

ERIC Supports Senate Resolutions of Disapproval for State & Local Retirement Plans

The ERISA Industry Committee (ERIC) is pleased to support S.J. Res. 32 & 33, resolutions of disapproval under the Congressional Review Act (CRA) for the repeal of the Department of Labor’s Rules on Savings Arrangements Established by States for Non-Governmental Employees and Savings Arrangements Established by Qualified State Political Subdivisions for Non-Governmental Employees… More

Letter to House Leadership on Resolution of Disapproval Under the Congressional Review Act (CRA)

The ERISA Industry Committee (ERIC) is pleased to support a resolution of disapproval under the Congressional Review Act (CRA) for the repeal of the Department of Labor’s Rules on Savings Arrangements Established by States for Non-Governmental Employees and Savings Arrangements Established by Qualified State Political Subdivisions for Non-Governmental Employees… More

protected content ERIC Sends Letter to Congress Opposing the Lifetime Income Disclosure Act

ERIC sent a letter to Congress in opposition of the Lifetime Income Disclosure Act, S. 1317 (“LIDA”). The measure was approved by the Senate Finance Committee along with several other retirement related provisions and included as Section 203 of S. 3471… More

ERIC Joins Letter to House and Senate in Support of Frozen Plan and Nondiscrimination Testing Legislation

ERIC is advocating for the passage of legislation that would amend the nondiscrimination provisions of the Internal Revenue Code applicable to frozen defined benefit plans. … More

ERIC Joins Letter to Congress Honoring the 40th Anniversary of ERISA

The undersigned organizations, representing plan sponsors, service providers, and plan administrators who deliver retirement benefits to millions of American workers, ask you to join us in celebrating the passage of this law and the success of the private retirement system that has been created around it.… More

ERIC Urges Senate Finance Committee to Be Wary of Unintended Consequences in Considering Tax Changes to Employer Retirement System

In a statement submitted today to the Senate Finance Committee on its hearing on retirement savings reform, the ERISA Industry Committee (ERIC) urged the committee to be wary of unintended outcomes in considering changes to the tax rules for retirement savings. … More

protected content Massachusetts Regulator Calls on Congress and DOL to Strengthen Disclosures on 401(k) Plan Changes

Massachusetts Secretary of the Commonwealth William Galvin on June 12 called on Congress and the Department of Labor (DOL) to strengthen the rules on what employers must disclose to employees about changes in their 401(k) plans and when they must be told specifically in connection with matching grant contributions.… More

ERIC as Part of CPR Coalition Writes to Chairman Camp on Tax Reform Draft

ERIC, as part of a coalition of trade associations (Coalition to Protect Retirement) focused on tax reform and retirement incentives, recently sent House Ways and Means Committee Chairman Dave Camp (R-MI) a letter regarding his “discussion draft” on tax reform. … More

ERIC Urges Ways & Means Committee Working Group to Proceed with Caution on Any Tax Reform Changes to Employer Retirement System

In a letter submitted today to the House Ways and Means Committee’s Tax Reform Working Group on Pensions and Retirement, The ERISA Industry Committee (ERIC) urged the policymakers to proceed with caution when considering any possible changes to the nation’s very successful voluntary employer-provided retirement system.… More

2013 2014 2016 2017 2018 2019