On April 10, 2019, President Trump issued an executive order related to “Energy Infrastructure and Economic Growth.” The executive order states that it is the policy of the United States to promote private investment in the Nation’s energy infrastructure. The order directs a number of agencies, including the EPA and the Departments of Transportation, Energy, Interior, Agriculture, and Commerc
On April 25, 2019, House Majority Leader Steny Hoyer (D-MD) announced that among the bills House leadership intends to bring to the floor for a vote during May is the “Setting Every Community Up for Retirement Enhancement Act of 2019” (the SECURE Act). As noted last month, the House Ways and Means Committee unanimously voted out the SECURE Act on April 2nd. The
On April 19, 2019, the Internal Revenue Service (IRS) released Rev. Proc.
On April 29, 2019, at the request of Senate Special Committee on Aging Chairwoman Susan Collins (R-ME) and Ranking Member Robert Casey (D-PA), the Government Accountability Office (GAO) published a report examining various aspects of early withdrawals from retirement plans and IRAs. Specifically, the report examines and repo
The ERISA Advisory Council (the Council) recently released its final reports following the Council’s study of two issues in 2018: (1) ways to promote lifetime income options within defined contribution (DC) plans, and (2) the effectiveness of existing Department of Labor (DOL) guidance regarding ERISA fidelity bonds. A summary of the reports’ recommendations is provided below. Each year, the
On March 29, 2019, a judge in the U.S. District Court for the District of Columbia issued a ruling striking down the Department of Labor’s (DOL) Association Health Plan (AHP) rule, which expanded the groups of employers that can join together in a single health plan.
On March 5, 2019, the Treasury Department and the Internal Revenue Service (IRS) released a Policy Statement announcing the procedures and conventions that they intend to follow regarding the issuance of regulatory and subregulatory guidance. Although the Treasury Department and the IRS have emphasized that
House Ways and Means Committee Votes to Move Retirement Legislation Forward
On March 14, 2019, the House Committee on Financial Services’ Subcommittee on Investor Protection, Entrepreneurship and Capital Markets held a hearing entitled, “Putting Investors First? Examining the SEC’s Best Interest Rule.”