Advocacy
Well, as they always say, better late than never. I hope you have been able to sleep at night during the last week without the March version of Nate’s Notes being released, but if you have not, never fear, they are here now.
The end of February and all of March were an extremely rewarding time!...
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The American Retirement Association (ARA) and sustainable markets advocacy organization Ceres has filed an amicus brief in the 5th U.S. Circuit Court of Appeals. It supported the U.S. Department of Labor’s (DOL) rule “that ensures retirement plan fiduciaries, including 401(k) sponsors, can consider...
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March 2024 Episode Description:
With the aging population growing so rapidly and birth rates declining, many industries could face labor shortages. As many employers face a coming wave of baby-boomer retirements, the gaps in...
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Working for the American worker’s retirement is extremely rewarding and non-stop. February has brought a lot of opportunities to educate in many different directions. From working on Capitol Hill in D.C. to testifying in Washington state, to meeting with individual state legislators in numerous...
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On Feb. 20, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that are of particular relevance to retirement plan sponsors and advisors.
More specifically, the ARA...
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One provision in particular in the SECURE 2.0 Act is receiving the lion’s share of attention from retirement plan sponsors and participants. Section 110 allows student loan payments to be treated as elective deferrals for purposes of matching contributions.
Yet guidance on how it will happen is...
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In our comment letter submitted to the Department of Labor (DOL) on Jan. 2, 2024, the American Retirement Association (ARA) expressed support for—yet specific issues with— the department’s proposed definition of “fiduciary investment advice” and amendments to PTE 2020-02.
The rulemaking package,...
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As we transition from 2023 to 2024, it is easy to look ahead and plan and prepare for the future, especially with things like an amazing NTSA Summit in sunny San Diego in February, as well as navigating the implementation of SECURE 2.0, more retirement legislation on the horizon, the ins and outs...
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Happy Birthday, ERISA!
It’s been 50 years since the Congress passed landmark legislation that protected the savings of American workers and—arguably—created an entire industry. It’s now time for the golden anniversary.
The American Retirement Association announced that it and eight associations...
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The NTSA is a champion of choice in the public education market segment.
Over the years the NTSA’s advocacy for maintaining multi-provider relationships in public education 403(b) plans tended to be reactionary (i.e., when a school district issues an RFP seeking a single provider solution). The...
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The month of August has come and gone. This may be one of the slower months of the year when it comes to legislative activities: there are currently only eight states whose legislatures are in session and Congress is on recess for the month. BUT—that didn’t stop us from moving some things forward...
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The biggest surprise of Missy Matrangola’s tenure as 2023 President of the American Retirement Association’s Board of Directors?
“The variety that comes with it—we talk about legislation, conferences, budget, etc.,” she said. “And also, the fact that being the president of the American...
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By now, almost every state has at least considered legislation that would establish a state-run retirement plan, and this year alone almost half the state legislatures have considered legislation about one. A panel of key players in the plans established in some states offer an insider’s look. ...
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Until recently, the federal law governing most private retirement was seldom a subject of national headlines—let alone the subject of an Instagram reel by the Speaker of the House.
But Speaker Kevin McCarthy and others have proclaimed that it now allows investment managers for many workplace...
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The American Retirement Association joined over 100 organizations—including major corporations, law firms, and advocacy organizations—in sending a letter June 29 to the House Ways & Means Committee seeking a two-year delay of the Roth catch-up requirement in SECURE 2.0 that requires anyone who...
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The Senate Banking Committee passed the Recovering Executive Compensation Obtained from Unaccountable Practices (RECOUP) Act on June 21.
Spearheaded by Senators Sherrod Brown (D-OH), and Tim Scott (R-SC), the bill would “hold senior executives of failed banks accountable by clawing back their...
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The recent 2023 NTSA Summit provided a unique opportunity to connect and also to gain from the insights of industry experts. Following is a quick rundown of our coverage of the event.
NTSA Leadership
Stubbs Takes the Helm as 2023 NTSA President https://www.ntsa-net.org/news-resources/stubbs-...
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Nevada is one step closer to enacting a state-run program to provide coverage to certain private-sector employees. In the meantime, Nebraska’s legislature may seek an examination of the retirement system that serves public employees, including public school teachers, and coverage under the New York...
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Hello all! Welcome to a new monthly series, Nate’s Notes. In order to keep you all apprised of what is taking place at the NTSA, I’m going to share an update on where I’ve been and what the NTSA has been doing.
For my inaugural note, I’m writing from the airplane on my way to the Massachusetts...
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The Land of 10,000 Lakes is poised to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not.
The state Senate approved the bill that would do so on May 11, and the House had done so 10 days earlier; the...
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