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Andrew Remo

Another state has moved to impose its own fiduciary standard with no ERISA exemption. The Maryland legislature aims to implement a state level fiduciary standard through a comprehensive consumer protection bill introduced this week by State Sen. Jim Rosapepe (D-Prince George’s). The bill grants... READ MORE
House Republicans have released a wide-ranging tax package – including a number of retirement savings provisions – setting the stage for negotiations on a year-end tax package as the 115th Congress comes to a close. The main components of the package (the Retirement, Savings, and Other Tax Relief... READ MORE
While the vast majority of plan sponsor respondents to a new survey think that eliminating or reducing pre-tax contributions to retirement savings plans is a bad idea, 85% say they would either definitely or probably continue to offer those programs if current pre-tax limits were lowered.However,... READ MORE
The Beaver State took another step forward this week to implement the “OregonSaves” program, as the Oregon Retirement Savings Board approved the final rules that will govern the operation of the program.Starting Nov. 15, 2017, Oregon employers with 100 or more employees must begin to register with... READ MORE
The U.S. Senate has passed, by a vote of 50-49, a Congressional Review Act resolution that would block the Obama-era Department of Labor’s (DOL) rule that defined the terms under which cities and counties could create IRA plans that automatically enroll private-sector workers whose employers do not... READ MORE
The Oregon State Treasury has put forth a proposal in support of its state-run plan for private-sector workers who don’t have a plan at work — that could affect private-sector 401(k) plans.The proposal is intended to implement recent changes in state law that will require Oregon employers that don’... READ MORE
Another state-run retirement program for the private sector is now on the books. California Gov. Jerry Brown (D) on Sept. 29 signed into law legislation that will implement the California Secure Choice Retirement Plan. Brown hailed the effort — four years in the making — as helping millions of... READ MORE
The legislative package that cleared the Senate Finance Committee unanimously in late September included provisions intended to encourage the use of lifetime income products, including a late addition that could turn out to be the most significant.Lifetime Income Selection Safe HarborThat provision... READ MORE
Four years after enactment of the California Secure Choice Retirement Savings and Trust Act (S.B. 1234), the California Assembly passed legislation Aug. 25 approving the program’s implementation beginning Jan. 1, 2017. Gov. Jerry Brown (D) is expected to sign the implementation bill into law.At... READ MORE
The Democrats have laid out their party platform — and when it comes to retirement issues, they plan to do a lot of fighting.In keeping with an American political tradition dating back to the 19th Century, the Democrats have released a draft version of their platform ahead of the Democratic... READ MORE
Republicans in the House of Representatives recently finalized the last plank of their policy agenda, with the release of their comprehensive tax reform blueprint. The bold plan calls for significant cuts in the statutory tax rates on both the wage and investment income for individuals — a move... READ MORE
A recent forum brought together a group of political heavy hitters in Oregon and other key stakeholders — including Judy Miller of the American Retirement Association — to discuss the current status of the Oregon Retirement Security Program and the issues surrounding the creation and implementation... READ MORE
The Senate Special Committee on Aging held a hearing on June 15 to examine ways to leverage prizes and technology to influence savings behavior.The hearing featured testimony from Transamerica Center for Retirement Studies President Catherine Collinson that focused on a new research report... READ MORE
On Tuesday, June 14, the leaders of the American Retirement Association and its sister organizations stormed Capitol Hill to meet with key staff and get a fresh perspective on the congressional legislative and policy agenda for the year.  The group, which included the Presidents and Presidents-... READ MORE
Last week, House Republicans released the first of six documents detailing their policy agenda, a portion of which included recommendations to “build retirement security through the private retirement system.” The most notable aspect of the report, however — a blueprint from the Task Force on... READ MORE
Connecticut Gov. Dannel Malloy (D) on May 27 signed into law the Connecticut Retirement Security Program Act (H.B. 5591), which establishes a state-run retirement plan. That came after a sometimes bumpy road to get the bill to his desk. Those machinations included a deadlocked Senate vote that... READ MORE
Republicans in Congress continued their campaign to kill the Department of Labor’s (DOL) fiduciary rule — and managed to pull three Senate Democrats over to their side.The Senate voted 56-41 on May 24 to formally disapprove of the rule under the Congressional Review Act (CRA), with three Democrats... READ MORE
In Illinois, if you are an employer that likes your retirement plan, you can keep it.Despite some persistent rumors and underhanded marketing to the contrary, the Illinois Secure Choice Savings Program Act — enacted in early 2015 — provides that if an employer covered under the law already has a... READ MORE
Legislation pending in the Maryland General Assembly uses more carrot than stick to entice private employers in the state to offer a retirement savings program for their employees.If the employer meets the requirements in the legislation — namely that the business adopts or maintains either an auto... READ MORE
UPDATE, MARCH 14: The provision described below was subsequently withdrawn. For more on that development, click here.  Thus far, the state-run retirement proposals have focused their mandates on employers that don’t offer plans — but that could be getting ready to change. Here’s your chance to do... READ MORE

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