News & Analysis as of

Employee Retirement Income Security Act (ERISA) Proposed Legislation

McDermott Will & Emery

Election 2024: Reproductive Rights in the US

McDermott Will & Emery on

In regard to reproductive rights, how would a Harris-Walz administration affect clients in your practice? Bottom line: A Harris-Walz administration would seek to restore the protections of Roe v. Wade, thereby providing...more

Littler

July is Still the New January! Littler’s Workplace Policy Institute’s Mid-Year Legislative Report

Littler on

Hot off the press – here is Littler’s mid-year report!  As federal regulators, states and cities continue to pass new workplace regulations through the calendar year, we summarize each state’s notable labor and employment law...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Wiley Rein LLP

Proposed State and Federal PBM Legislation: Is There Reason for Action Now?

Wiley Rein LLP on

Legislation aiming to reform the regulation of pharmacy benefit managers (PBMs) remains on the horizon on both the federal and state levels. In particular, 2023 was a fertile year for PBM legislative initiatives....more

Hall Benefits Law

Health Care Stakeholders Support Passage of The Value in Health Care Act

Hall Benefits Law on

Seventeen healthcare stakeholder groups have come together to support The Value in Health Care Act, a bill that a bipartisan coalition reintroduced in Congress this summer. The bill supports a shift in the medical care...more

Proskauer - Employee Benefits & Executive...

Congress Proposes SECURE 2.0 Technical Corrections Bill

As previously discussed, the SECURE 2.0 Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design...more

Eversheds Sutherland (US) LLP

ESG in the United States: A complex landscape

The United States is in the process of transitioning ESG disclosure from voluntary, market-led reporting to a regulatory-driven scheme, principally led by the US Securities and Exchange Commission’s (SEC) anticipated (but...more

McDermott Will & Emery

Proposed Legislation Would Allow 403(B) Plans to Invest in Lower-cost Collective Investment Trusts

A new bill introduced in Congress would allow 403(b) plans maintained by tax-exempt organizations to make use of collective investment trust (CIT) investments—an alternative to mutual funds that may provide significant cost...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Beltway Buzz - May 2022 #2

DOL Appeals Reinstatement of Independent Contractor Rule. Late last week, the administration filed its notice of appeal of the recent decision by the U.S. District Court for the Eastern District of Texas to reinstate the...more

Littler

Congress Considers Banning Discretionary Clauses in ERISA Plans

Littler on

On May 12, 2022, the “Employee and Retiree Access to Justice Act” was introduced in the House of Representatives by Mark DeSaulnier (D-CA).  Senator Tina Smith (D-MN) introduced a companion bill in the Senate. The bill seeks...more

Miller Canfield

SECURE Act 2.0 Passes the House: Which Retirement Plan Rules Would Change?

Miller Canfield on

Key Takeaways - ..SECURE Act 2.0 passed the U.S. House of Representatives on March 29, 2022. ..SECURE Act 2.0 would make changes to employer-sponsored retirement plans to expand coverage and increase savings, as well as...more

McDermott Will & Emery

New Nationwide Ban against the Enforcement of Mandatory Arbitration Agreements in Sexual Misconduct Cases

McDermott Will & Emery on

On February 10, 2022, the US Senate passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 (the Act), a bipartisan bill that invalidates and renders unenforceable predispute arbitration...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Congress proposed legislation to allow ESG

In the 30 years that I’ve been an investor, I’ve always strived for the best performance, that’s me. Other people may want to strive for performance, but make a difference and I think they should have that right. So do some...more

Mintz - Employment Viewpoints

Call it a Comeback: The Likely Return of ESG Investing in ERISA Accounts

Environmental, social, and governance (“ESG”) investing has experienced quite the regulatory roller coaster in recent years. In the most recent turn, Democratic Senators Patty Murray (D-Wash.) and Tina Smith (D-Minn.), along...more

McDermott Will & Emery

New PBGC Rule Simplifies Multiemployer Plan Withdrawal Liability Calculations

McDermott Will & Emery on

The Pension Benefit Guaranty Corporation (the PBGC) kicked off 2021 by releasing a final rule intended to streamline withdrawal liability calculations for multiemployer plans that are or were in “critical” or “endangered”...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Bill to expand MEPs to 403(b) plans introduced

I rarely talk about legislation because so many bills over the years get proposed with zero action by Congress. It took more than 4 years for Roth 401(k) plans to be a thing. However, I want to take time to talk about...more

King & Spalding

GAO Report on Top Hat Plans Calls for Stricter Oversight by IRS and DOL

King & Spalding on

In response to a request by U.S. Senators Ron Wyden (Oregon), Bernie Sanders (Vermont) and Patty Murray (Washington), the Government Accountability Office (“GAO”) earlier this year completed a study and published a report...more

Verrill

DOL Proposed Regulation Highlights the Risks of ESG Investing for ERISA Fiduciaries

Verrill on

On June 23, 2020, the U.S. Department of Labor (“DOL”) issued a proposed regulation outlining the duties of an ERISA fiduciary when considering an investment that incorporates environmental, social, and corporate governance...more

King & Spalding

House Drug Pricing Proposal Released; Surprise Billing Legislation Stalls

King & Spalding on

On September 19, 2019, House Speaker Nancy Pelosi (D-CA) released H.R. 3, the Lower Drug Costs Now Act, to make a series of changes to Medicare to lower the price of prescription drugs. The bill must move through three...more

Proskauer - The Capital Commitment

Proposed Senate Bill Would Significantly Impact Certain Private Funds and Their Affiliates

Recently, a group of Congress members introduced into Congress Senate Bill 2155 named the Stop Wall Street Looting Act of 2019. Although unlikely to be enacted into law as drafted, this proposed legislation would directly and...more

Laner Muchin, Ltd.

Washington Working To Expand Multiple Employer Retirement Plan Options

Laner Muchin, Ltd. on

The Department of Labor published final regulations on July 31, 2019, making it easier for multiple employers to band together to sponsor a single retirement plan (i.e., a multiple employer plan or MEP), thereby reducing the...more

Bracewell LLP

SECURE Act Provisions

Bracewell LLP on

Major changes in federal law are in the works that could significantly impact employers’ qualified retirement plans, which could require amending such plans to reflect mandatory and elective changes.  The U.S. House of...more

McDermott Will & Emery

Bipartisan Bill Paves the Way for Significant Retirement Plan Reforms

The House recently passed the most significant piece of proposed retirement plan legislation in more than a decade: the SECURE Act. Although the Senate must also approve the bill before it becomes law, its proposed changes...more

Snell & Wilmer

The SECURE Act – A Primer on the Top Six SECURE Act Changes that could be coming to Retirement Plans Next Year

Snell & Wilmer on

The SECURE Act (the “Act”) passed the House with bipartisan support and is on its way to the Senate with predictions that it could end up on the President’s desk by the end of the year. Here are some highlights of this...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The thing about 401(k) legislation

People have asked me about the possibility of new laws pertaining to multiple employer plans (MEPs) and other changes to 401(k) plans. Quite honestly, I’m not one to pay attention to any legislation unless it actually becomes...more

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