Showing entries with the topic “Legislative/Regulatory”.
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Dear Santa: Last year, in anticipation of my official designation as a member of your Nice List, I made a number of requests, or “wishes,” as you refer to them, on behalf of the retirement plan community. I was surprised and extremely grateful for your thoughtful response, especially given …Read more
On December 1st, I was eagerly awaiting the vote on the Senate Tax Reform bill, which, as indicated in our recent article on the subject, contained provisions that would have eliminated most of the special contribution limits that apply to 403(b) plans. My wait ended up being quite long, as th…Read more
In a recent blog entry on tax reform, I proposed some changes to retirement plan law that could help raise revenue. Now, when I wrote those suggestions, I was fairly confident that neither the House nor the Senate proposal would incorporate any of them. However, either by coincidence, psychic pow…Read more
On November 2, 2017, the House released its version of a tax reform proposal, the Tax Cuts and Jobs Act. On November 9th, the Senate issued its markup of the Act, which was substantially different from the House version, particularly with respect to retirement plan changes. The next step will likely…Read more
Last week, the House introduced the much-anticipated Tax Cuts and Jobs Act. Those who work closely with retirement plans, including retirement plan sponsors and advisors like myself, have been waiting with bated breath to see how the House suggests raising revenue to pay for income tax cuts - …Read more
Recently, we wrote a Top of Mind post about how the University of California (Cal) took the bold step of adding CITs to its 403(b) plans. For decades, CITs have been the sole domain of annuities and mutual fund products. As we noted, while it’s been known that CITs are a permissible inve…Read more
The University of California 403(b) Plan Changes: Can 403(b) Plans Now Invest in Collective Investment Trusts?
Robert Steyer of Pensions and Investments recently broke the story on the University of California becoming the first (of which we are aware) 403(b) non-church plan sponsor to offer collective investment trusts (CITs) in its 403(b) plan. This development was somewhat surprising, given the fact…Read more
In our most recent issue of Trends that Matter, participant engagement and fiduciary responsibility were the hot issues for retirement plan sponsors. While those trends remain current, others have emerged that should be top of mind with plan sponsors. The nonprofit sector is reacting …Read more
On June 29th, while you were no doubt busy preparing for the Fourth of July holiday, the Department of Labor (DOL) decided it would be a good time to issue yet another request for comment on the fiduciary rule. Releasing items on a Friday, or just in advance of a holiday weekend, has been a co…Read more
If I had consulted with my Magic 8-ball last week, given the previous comments by newly appointed Secretary of Labor Alexander Acosta, it probably would have stated that “signs point to yes” with respect to a delay in the June 9th initial applicability date of the Fiduciary Rule. …Read more