Updates – 401(k) Plans

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protected content ERIC Testifies on Uncashed Checks and Permissive Transfers to State Unclaimed Property Funds

Yesterday, I testified on behalf of ERIC before The ERISA Advisory Council on the legal and practical concerns surrounding uncashed checks and state escheatment… More

ERIC Testifies About Uncashed Retirement Checks

ERIC today testified before the ERISA Advisory Council on permissive transfers of uncashed checks from ERISA plans to state unclaimed property funds… More

protected content Retirement Congressional, Regulatory, and Litigation Update

Unfortunately, the SECURE Act continues to stall in the Senate due to the refusal of a couple of Senators to allow the bill to move by unanimous consent… More

ERIC joins other trades in push for electronic delivery

Last week, ERIC joined several other trade associations in urging the Department of Labor (DOL) to issue proposed regulations on electronic delivery as directed by the President’s Executive Order on Strengthening Retirement Security in America… More

ERIC Applauds Passage of SECURE Act

ERIC applauds the passage of the SECURE Act and the bipartisan effort to provide greater retirement security. In particular, we appreciate the permanent fix to allow workers to continue accruing benefits in frozen pension plans, the extension of the required minimum distribution rules, and help for student debt repayment… More

ERIC Continues Push for Change in Missing Participant Audits

ERIC continues to seek changes in the missing participant audit process by requesting an end to closing letters that contain a fiduciary breach finding… More

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

protected content AIH – Retirement Updates

This morning the House Education and Labor Committee will hold a hearing, “Examining the Policies and Priorities of the U.S. Department of Labor." The only witness will be Secretary of Labor Alexander Acosta… More

ERIC Secures Exemption for Members From IL Secure Choice Retirement Savings Reporting Requirements

ERIC has secured a permanent exemption for ERIC members from the Illinois Secure Choice Retirement Savings Program reporting requirements.… More

protected content ERIC Negotiates Memorandum of Understanding with Illinois Secure Choice

We are pleased to announce a Memorandum of Understanding with the Office of the Illinois State Treasurer providing relief to ERIC members from reporting obligations that otherwise apply under the Illinois Secure Choice Retirement Savings Program. … 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

protected content ERIC Comments on Maine State Retirement Savings Plan

ERIC has submitted a letter to Maine state legislators addressing concerns with proposed legislation currently under consideration regarding the state's retirement savings plan… More

protected content ERIC Calls on Congress to Address Multiemployer Pension Crisis

ERIC submitted a statement calling on Congress to act immediately and comprehensively to address this crisis.… More

protected content U.S. Treasury Reverses Intent to Rule on Retiree Lump-Sum Windows

Today, the U.S. Department of the Treasury and the Internal Revenue Service released Notice 2019-18 stating that the agencies no longer intend to provide guidance stating that the inclusion of retirees in lump-sum window programs violates the Internal Revenue Code… More

protected content ESG Investing and ERISA Advisory Council Topics

EBSA has sent a Federal Register Notice announcing an April 10, 2019 ERISA Advisory Council meeting, to set topics for the 2019 Council… More

protected content Alert: State Retirement Savings Program Proposals in New Jersey and Hawaii

Yesterday, the New Jersey General Assembly voted to pass AB 4134, a bill establishing a state-administered Secure Choice Savings Program for private employees working within the state… More

ERIC Weighs in on Guidance Related to Missing Retirement Plan Participants

ERIC submitted suggestions to the U.S. Department of Labor Assistant Secretary of Labor Preston Rutledge on guidance related to the challenge of employers locating missing retirement plan participants… More

protected content ERIC Submits Letter to DOL on Missing and Unresponsive Participants

This afternoon, ERIC submitted a letter to the Department of Labor (DOL) on the issue of missing and unresponsive participants… More

protected content Alert: ERIC Submits Comment Letters on Washington and Oklahoma State Retirement Savings Program Bill

This week ERIC submitted letters in two different states reminding them of the preemption provisions for employers that currently sponsor retirement plans under ERISA. Both Washington state and Oklahoma are considering the implementation of mandatory state-administered IRA programs which would contravene ERISA’s preemption provisions… More

ERIC Submits Comments on Oklahoma State Retirement Plan Bill

The ERISA Industry Committee is writing regarding Oklahoma Senate Bill 934 (“SB 934”) to urge the legislators to acknowledge the preemption provisions under federal law—The Employee Retirement Income Security Act of 1974 (“ERISA”)—by exempting employers that already provide access to a retirement savings plan from the requirements of SB 934… More

ERIC Submits Comments on Washington’s State-Run Retirement Plan

ERIC submitted comments regarding Washington Senate Bill 5740 (SB 5740)… More

protected content Retirement Enhancement and Savings Act Reintroduced in the House

Yesterday, the Retirement Enhancement and Savings Act (RESA) was reintroduced by U.S. Representatives Ron Kind, (D-WI), and Mike Kelly, (R-PA)… More

ERIC Advocates for Student Loan & Hardship Withdrawal Policies to Promote Employee Savings

The ERISA Industry Committee started 2019 off with a flurry of comments on retirement policies affecting large plan sponsors… More

2011 2012 2013 2014 2015 2016 2017 2018 2019