In response to an August 31, 2018 Executive Order (EO) from President Trump, the Department of Labor (DOL) on October 22nd released proposed rules that are designed to make it easier for businesses to join multiple employer plans (MEPs).
On October 17, 2018, the Trump Administration released its fall 2018 regulatory agenda.
Plan administrators of qualified plans, 403(a) plans, 403(b) plans, and governmental 457(b) plans are required to provide a written explanation of the eligible rollover distribution rules to participants within a reasonable period of time
On September 27, 2018, by a vote of 240-177, with 10 Democrats supporting the bill, the House of Representatives passed the Family Savings Act, H.R. 6757, a package of retirement and savings enhancements and modifications.
On September 23, 2018, the Department of Labor’s (DOL’s) Employee Benefits Security Administration sent to the Office of Management and Budget (OMB) for review the proposed rule for “Association Retirement Plans and Other Multiple-Employer Plans.”