Resource Type: Legislation & Regulations
Roth Contribution Feature
The law adds a Roth contribution feature to the Thrift Savings Plan (TSP), while keeping its traditional tax deferral feature. TSP allows employees to make contributions from their salaries into their accounts and the amount contributed is deducted from the employee’s income in the year the contribution is made. Employees do not pay taxes on […]
Disclosure of Fees and Conflicts to 401(k) Plan Administrators
The Fair Disclosure for Retirement Security Act of 2009 (H.R. 1984) would require that firms seeking to provide services to 401(k) plans submit disclosure and conflicts of interest statements to plan administrators before signing contracts with the plans. The required service disclosure statement would identify who would be performing services for the plan under the […]
Final 401(k) Fee Disclosure Regulations
On October 20, 2010, the Department of Labor issued final regulations that require private retirement savings plans, such as 401(k)s, to tell employees how much they are being charged in record-keeping, investment management and other fees. The regulations also include rules for disclosing information about the plan’s investment options. These rules apply only to plans where […]
Relief for Hurricane Victims
Katrina Emergency Tax Relief Act of 2005 Retirement Provisions On September 21, 2005 President Bush signed into law the Katrina Emergency Tax Relief Act of 2005 (KETRA). KETRA includes provisions specifically related to retirement plans to provide financial relief to those affected by Hurricane Katrina. Tax Favored Withdrawals from Retirement Plans The first provision in […]
Pension Protection Act of 2006
On August 17, 2006, President Bush signed the Pension Protection Act of 2006 (PPA) [PDF] into law. The Senate passed the bill on August 3, 2006, and the House of Representatives passed it on July 28, 2006. The provisions of the law are summarized in a report by the Joint Committee on Taxation [PDF]. A number of […]
PBGC Premium Increase
The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation that insures most defined benefit plans in the United States. The PBGC is funded solely by premiums paid by plan sponsors. Currently the PBGC is experiencing deficits due to the large amount of plans which are terminated with insufficient funds to cover all its liabilities. […]
Increased FDIC Coverage Limits
The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and thrift institutions. Currently the FDIC insures all deposits in banks, including retirement savings accounts such as Individual Retirement Accounts (IRA). The FDIC covers for losses caused by the failure of the financial institution which holds the accounts assets up to $100,000. The Deficit Reduction […]
Proposed Rule on Investment Advice
The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Read the Pension Rights Center’s comments.
Proposed Regulations and Class Exemption on Investment Advice
The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Norman Stein submitted comments on behalf of the Pension Rights Center.
Proposed Model Cutback Notice
The U.S. Department of Labor’s Employee Benefits Security Administration has proposed a model notice [PDF] that will be sent to workers in multiemployer plans whose pensions may be reduced because their pension plan is severely underfunded. To shore up the health of underfunded pension plans, the Pension Protection Act of 2006 imposed several requirements that […]
Automatic Contribution Arrangements
The Internal Revenue Service has issued proposed regulations regarding automatic contribution arrangements, also known as automatic enrollment. The Pension Rights Center submitted comments.
Multi-Employer Pension Plan Information Made Available on Request
The Department of Labor issued proposed regulations regarding information available upon request from multiemployer plans. The Pension Rights Center submitted comments.
