Retirement Tax Issues

Updates

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

protected content Tax Reform 2.0 on the Horizon

Surprisingly, we have seen a huge focus on retirement issues in the past several weeks in Washington, DC. From the introduction of four bi-partisan bills last week (see the Weekly Retirement Email) to a significant portion of the latest Republican Tax Framework focusing on retirement policy – I expect it to be a very busy end of the year with respect to retirement policy… 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

protected content Tax Reform - Final Week

Today, the Senate is expected to go first with a vote on the conference report. The conference report was passed by the conference late last week. With Senators Rubio and Corker signaling support, it should easily pass the Senate… More

Will Hansen Gives “Tip of the Week” to Employment Law This Week

Will's tips focus on how tax reform could impact executive compensation programs… More

See All Updates

Amicus Briefs

protected content Tax Reform, Student Loan, Amicus Brief

The House passed a budget resolution which completes the steps necessary to provide both the House and Senate with reconciliation instructions to complete tax reform. The main reason behind the “reconciliation” route is that it enables legislation to be passed out of the Senate with a simple majority instead of the standard 60-vote threshold… More

More Amicus Briefs

Court Rulings

protected content Treasury and IRS Release Windsor Decision Guidance on Retirement Plans

Today, the Treasury Department and Internal Revenue Service released Notice 2014-19, which provides guidance on the application of the decision in U.S. v Windsor on the federal tax treatment of same-sex married couples to retirement plans.… More

protected content Coverage on U.S. Supreme Court Rulings on DOMA and Proposition 8

As you probably have heard, the U.S. Supreme Court on June 26 issued its long-awaited decisions on the constitutionality of same-sex marriages, ruling that section 3 of the Defense of Marriage Act is unconstitutional under the Equal Protection Clause in the United States v. Windsor. … More

protected content Supreme Court Invalidates DOMA and Dismisses California Proposition 8 Appeal

The U.S. Supreme Court has issued its long-awaited decisions on the constitutionality of same-sex marriages. The Court’s holdings in these cases could have a significant impact on the manner in which employee benefit plans need to be operated. The Court heard two cases involving same-sex marriages – one involving state law and the other involving federal law.… More

ERIC President Scott Macey Comments on the U.S. Supreme Court’s Decisions on the Defense of Marriage Act (DOMA) and Proposition 8

Washington, D.C. -- ERIC President Scott Macey Comments on the U.S. Supreme Court’s Decisions on the Defense of Marriage Act (DOMA) and Proposition 8: “Today’s rulings by the U.S. Supreme Court could have a significant impact on the way employee benefit plans are administered. Companies will need to carefully evaluate their plans in light of these decisions. … More

More Court Rulings

Judicial Documents

protected content Coverage on U.S. Supreme Court Rulings on DOMA and Proposition 8

As you probably have heard, the U.S. Supreme Court on June 26 issued its long-awaited decisions on the constitutionality of same-sex marriages, ruling that section 3 of the Defense of Marriage Act is unconstitutional under the Equal Protection Clause in the United States v. Windsor. … More

protected content Supreme Court Invalidates DOMA and Dismisses California Proposition 8 Appeal

The U.S. Supreme Court has issued its long-awaited decisions on the constitutionality of same-sex marriages. The Court’s holdings in these cases could have a significant impact on the manner in which employee benefit plans need to be operated. The Court heard two cases involving same-sex marriages – one involving state law and the other involving federal law.… More

More Judicial Documents

Legislative Documents

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 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

MAP 21 Interest Stabilization Extension and PBGC Premium Increase Not Included in Highway Trust Fund Legislation

As you are aware, Congress is working on legislation to replenish the Highway Trust Fund, which is scheduled to “run out of money” (for legislative purposes) late July or early August 2014. Discussions related to the revenue provisions have included an extension of the MAP-21 interest stabilization… More

protected content Senate Finance Committee Approves Extension of Expiring Multiemployer Funding Rules

The Senate Finance Committee under new Chairman Ron Wyden (D-OR) on April 3 approved a series of tax provisions that expired in 2013 but are generally renewed on an annual basis -- dubbed the “tax extenders.” … 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 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

More Legislative Documents

Letters to Agencies

ERIC and Other Trade Groups Write to Treasury on Retroactive Effect Issues in Windsor Decision

ERIC has joined with 13 other business trade associations in a letter asking the Treasury Department to use its authority under Internal Revenue Code section 7805(b)(8) to limit the extent of the decision’s retroactivity.… More

More Letters to Agencies

Letters to Congress

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

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 Offers Support for Chairman Tiberi’s Bill to Provide Relief from Nondiscrimination Testing for Frozen DB Plans

In a statement submitted today to the House Ways and Means Subcommittee on Select Revenue Measures, the ERISA Industry Committee (ERIC) urged the subcommittee to protect and encourage the continuation of retirement plans by minimizing costs to maintain retirement plans, provide relief for frozen defined benefit plans, recognize the deferral nature of retirement savings, and critically evaluate proposals to change the system.… 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

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 Joins Group Trade Association Letter on “Blank Slate” Approach to Tax Reform

ERIC recently joined a group of business trade associations on a letter to the Senate regarding the “blank slate” approach to tax reform, urging the lawmakers to preserve the current tax treatment related to retirement savings.… 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

More Letters to Congress

Press Releases

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

Senate GOP Tax Reform Plan Protects Retirement Savings

The ERISA Industry Committee (ERIC) is pleased that the Republican’s Senate tax reform plan protects the pre-tax contribution limit employees can contribute to their 401(k) plans and we will continue to advocate against any decrease in the incentive to save for retirement on a pre-tax basis… More

GOP Tax Reform Plan Leaves Retirement Savings Intact

The ERISA Industry Committee (ERIC) is pleased the Republican’s House tax reform plan does not decrease the pre-tax contribution limit for retirement plans that an individual may contribute on an annual basis… More

Tax Reform Can Both Improve the Economy and Protect Employer-Sponsored Benefits

The ERISA Industry Committee is pleased with President Trump’s tax reform framework, which avoids imposing dangerous taxes on employer-sponsored health and retirement benefits… More

ERIC’s Statement on Passage of Joint Resolutions of Disapproval on State and Local Retirement Plans

The ERISA Industry Committee (ERIC) is pleased the House passed resolutions repealing the Department of Labor rules that have allowed state and local governments to enact mandatory retirement plans… More

ERIC Statement on Retirement Proposals in President Obama’s Fiscal Year 2016 Budget

Annette Guarisco Fildes, President & CEO of The ERISA Industry Committee, the leading trade association dedicated exclusively to the employee benefit and compensation interests of America’s largest companies, today made the following statement in reaction to the retirement proposals included in President Obama’s fiscal year 2016 budget. … More

ERIC Offers Support for Chairman Tiberi’s Bill to Provide Relief from Nondiscrimination Testing for Frozen DB Plans

In a statement submitted today to the House Ways and Means Subcommittee on Select Revenue Measures, the ERISA Industry Committee (ERIC) urged the subcommittee to protect and encourage the continuation of retirement plans by minimizing costs to maintain retirement plans, provide relief for frozen defined benefit plans, recognize the deferral nature of retirement savings, and critically evaluate proposals to change the system.… 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

ERIC Expresses Concern with Ways & Means Committee Chairman Camp’s Tax Reform Discussion Draft

ERIC President and CEO Scott Macey today made the following statement in response to the release of a tax reform “discussion draft” by House Ways and Means Committee Chairman Dave Camp (R-MI)… More

ERIC President Scott Macey Comments on the U.S. Supreme Court’s Decisions on the Defense of Marriage Act (DOMA) and Proposition 8

Washington, D.C. -- ERIC President Scott Macey Comments on the U.S. Supreme Court’s Decisions on the Defense of Marriage Act (DOMA) and Proposition 8: “Today’s rulings by the U.S. Supreme Court could have a significant impact on the way employee benefit plans are administered. Companies will need to carefully evaluate their plans in light of these decisions. … 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

More Press Releases

Testimony

ERIC Offers Support for Chairman Tiberi’s Bill to Provide Relief from Nondiscrimination Testing for Frozen DB Plans

In a statement submitted today to the House Ways and Means Subcommittee on Select Revenue Measures, the ERISA Industry Committee (ERIC) urged the subcommittee to protect and encourage the continuation of retirement plans by minimizing costs to maintain retirement plans, provide relief for frozen defined benefit plans, recognize the deferral nature of retirement savings, and critically evaluate proposals to change the system.… 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

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

More Testimony