Andrew Remo
By Andrew Remo 2/17/2021
Five years after it was first introduced, the initiative to create a state-based retirement program for the private workforce in the Commonwealth of Virginia has taken a major leap forward—with a key change pushed by the American Retirement Association.
On Feb. 16 the Virginia Senate Finance and...
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By Andrew Remo 3/20/2020
The CARES Act includes provisions advocated by the American Retirement Association that loosen retirement plan hardship and loan rules to free up funds for individuals impacted by the Coronavirus pandemic.
Life (and legislation) has been coming at us fast in March, as the country and Congress...
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By Andrew Remo 2/8/2019
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...
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By Andrew Remo 11/27/2018
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...
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By Andrew Remo 6/23/2017
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,...
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By Andrew Remo 4/24/2017
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...
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By Andrew Remo 3/30/2017
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...
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By Andrew Remo 2/10/2017
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’...
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By Andrew Remo 9/30/2016
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...
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By Andrew Remo 9/28/2016
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...
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By Andrew Remo 8/26/2016
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...
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By Andrew Remo 7/26/2016
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...
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By Andrew Remo 7/13/2016
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...
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By Andrew Remo 6/24/2016
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...
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By Andrew Remo 6/22/2016
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...
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By Andrew Remo 6/17/2016
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-...
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By Andrew Remo 6/14/2016
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...
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By Andrew Remo, John Iekel 6/3/2016
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...
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By Andrew Remo 5/25/2016
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...
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By Andrew Remo 4/1/2016
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...
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