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Shrinking Emergency Account Losses Act of 2015 or the SEAL Act Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
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Filing registrants (5)
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act of 2015 S3025 - Graduate Student Savings Act of 2016 S3417 - Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act of 2016 Retirement Enhancement and Savings Act (RESA) of 2016 Retirement Improvements and Savings Enhancements (RISE) Act DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bills: HR1090 - Retail Investor Protection Act of 2015 HR4294 - Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act HR4293 - Affordable Retirement Advice Act Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus Retirement Plan Fees
Read twice and referred to the Committee on Finance.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2016 · fourth_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act - S. 2110 - Womans Pension Protection Act of 2015 S. 2492 - Encouraging Americans to Save Act S. 3078 - Retirement Savings Lost and Found Act of 2016 S. 3240 - Pension and Budget Integrity Act of 2016 S. 3307 - A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to avoid duplicative annual reporting, and for other purposes S. 3338 - Small Business Employee Retirement Savings Act of 2016 S. 3417 - Receiving Electronic Statements to Improve Retiree Earnings Act - S. 3471 - Retirement Enhancement and Savings Act of 2016 - H.R. 2029 - Consolidated Appropriations Act, 2016 - H.R. 4236 - Financial Security Credit Act of 2015 - H.R. 4294 - Strengthening Access to Valuable Education and Retirement Support Act of 2015 - H.R. 4293 - Affordable Retirement Advice Protection Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 4955 - Pension and Budget Integrity Act of 2016 - H.R. 4067 - Small Businesses Add Value for Employees (SAVE) Act of 2015 - H.R. 5731 - Secure, Accessible, Valuable, Efficient Universal Pension (SAVE UP) Accounts Act - H.R. 5805 - Retirement Savings Lost and Found Act of 2016
Client expense: $114,533 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
2016 · third_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090/S.2497: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656/S.3417 Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 H.R. 4955 - Pension and Budget Integrity Act of 2016 - to amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude the receipts and disbursements of the Pension Benefit Guaranty Corporation (PBGC) from the federal budget. S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution. S.2502: Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act. S.3240: Pension and Budget Integrity Act of 2016 - This bill prohibits provisions that increase or extend an increase of Pension Benefit Guaranty Corporation (PBGC) premiums from being counted as an offset to determine budget points of order for legislation in the House or the Senate. The Retirement Enhancement and Savings Act of 2016: included broad retirement-related benefits, such as enhancements to 401(k) plans, MEPs, a repeal of the maximum age for individual retirement account (IRA) contributions, and a start-up credit for small employer plans.
Client expense: $504,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090/S.2497: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656/S.3417 Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 H.R. 4955 - Pension and Budget Integrity Act of 2016 - to amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude the receipts and disbursements of the Pension Benefit Guaranty Corporation (PBGC) from the federal budget. H.R. 5731 - Secure, Accessible, Valuable, Efficient Universal Pension Accounts (SAVE UPs) Act would universalize retirement savings accounts so every American worker would have an opportunity to generate tax-advantaged assets. H.R.6396 - Retirement Security for American Workers Act, to amend the Internal Revenue Code of 1986 to modify the qualification requirements with respect to certain multiple employer plans with pooled plan providers. S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution. S.2502: Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act. S.3240: Pension and Budget Integrity Act of 2016 - This bill prohibits provisions that increase or extend an increase of Pension Benefit Guaranty Corporation (PBGC) premiums from being counted as an offset to determine budget points of order for legislation in the House or the Senate. The Retirement Enhancement and Savings Act of 2016: included broad retirement-related benefits, such as enhancements to 401(k) plans, MEPs, a repeal of the maximum age for individual retirement account (IRA) contributions, and a start-up credit for small employer plans.
Client expense: $530,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Retirement
FY 2017 Federal Budget Proposal - retirement policy initiatives Tax reform - employer sponsored retirement tax incentives House Republicans Tax Reform Task Force Defined Benefit Plan Issues Mortality table updates De-risking pensions methods Non-discrimination issues affecting defined benefit plans Retirement Security Preservation Act of 2016 (RSPA) PBGC premiums Hybrid plan rules, including Pension Equity Plans Pension Portability Act - S. 2147/H.R. 4029 Pension and Budget Integrity Act of 2016 - H.R. 4955/S. 3240 Defined Contribution Plan Issues Retirement plan coverage Lifetime income Plan fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Retail Investors Protection Act - H.R. 1090 The Lifetime Income Disclosure Act - S. 1317/H.R. 2317 Retirement Savings Lost and Found Act of 2016 - S. 3078/H.R. 5805 Retirement Choice Protection Act of 2015 - H.R. 3922 Small Businesses Add Value for Employees Act (SAVE) Act of 2015 - H.R. 4067 Universal Savings Account Act - H.R. 4094 Womens Pension Protection Act of 2015 - S. 2110/H.R. 4235 Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656/S. 3417 Affordable Retirement Advice Protection (ARAP) Act - H.R. 4293 Strengthening Access to Valuable Education & Retirement Support (SAVERS) Act - H.R. 4294 Financial Choice Act of 2016 - H.R. 5983 Secure, Accessible, Valuable, Efficient, Universal Pension (SAVE UP) Act - H.R. 5731 Retirement Security for American Workers Act - H.R. 6396 EEOC Reform Act - S. 2693 Retirement Improvements and Savings Enhancements (RISE) Act of 2016 - Early Draft of retirement reform legislation Retirement Enhancement and Savings (RESA) Act - modified version Other Final Fiduciary Definition/Conflict of Interest Rule Proposed & New Revisions to EEO-1 Form - annual Employer Information Report New Claims Procedures - Disability Benefits (DOL, EBSA) Proposed Form 5500 Changes Executive & nonqualified deferred compensation Multiemployer pension plan issues Multiple employer plans (MEPs) State retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program Paid leave proposals and issues Student loan repayment benefit - Employer Participation in Student Loan Assistance Act - S. 2467/H.R. 3861 Missing Participants International pension issues, including cross-border pension funds
Client expense: $177,146 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Office of Management & Budget (OMB), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
2016 · third_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act - S. 2110 - Womans Pension Protection Act of 2015 S. 2492 - Encouraging Americans to Save Act S. 3078 - Retirement Savings Lost and Found Act of 2016 S. 3240 - Pension and Budget Integrity Act of 2016 S. 3307 - A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to avoid duplicative annual reporting, and for other purposes S. 3338 - Small Business Employee Retirement Savings Act of 2016 S. 3417 - Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2029 - Consolidated Appropriations Act, 2016 - H.R. 4236 - Financial Security Credit Act of 2015 - H.R. 4294 - Strengthening Access to Valuable Education and Retirement Support Act of 2015 - H.R. 4293 - Affordable Retirement Advice Protection Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 4955 - Pension and Budget Integrity Act of 2016
Client expense: $89,072 · Firm income: Not reported
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act of 2015 S3025 - Graduate Student Savings Act of 2016 S3417 - Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act of 2016 Retirement Enhancement and Savings Act of 2016 Retirement Improvements and Savings Enhancements (RISE) Act DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bills: HR1090 - Retail Investor Protection Act of 2015 HR4294 - Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act HR4293 - Affordable Retirement Advice Act Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus Retirement Plan Fees
Client expense: $370,000 · Firm income: Not reported
2016 · third_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090/S.2497: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656/S.3417 Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 H.R. 4955 - Pension and Budget Integrity Act of 2016 - to amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude the receipts and disbursements of the Pension Benefit Guaranty Corporation (PBGC) from the federal budget. S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution. S.2502: Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act. S.3240: Pension and Budget Integrity Act of 2016 - This bill prohibits provisions that increase or extend an increase of Pension Benefit Guaranty Corporation (PBGC) premiums from being counted as an offset to determine budget points of order for legislation in the House or the Senate. The Retirement Enhancement and Savings Act of 2016: included broad retirement-related benefits, such as enhancements to 401(k) plans, MEPs, a repeal of the maximum age for individual retirement account (IRA) contributions, and a start-up credit for small employer plans.
2016 · third_quarter · Retirement
FY 2017 Federal Budget Proposal - retirement policy initiatives Tax reform - employer sponsored retirement plans House Republicans Tax Reform Task Force Defined Benefit Plan Issues Mortality table updates De-risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC premiums Hybrid plan rules Pension Portability Act - S. 2147/H.R. 4029 Pension and Budget Integrity Act of 2016 - H.R. 4955/S. 3240 Defined Contribution Plan Issues Retirement plan coverage Lifetime income Plan fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Retail Investors Protection Act - H.R. 1090 The Lifetime Income Disclosure Act - S. 1317/H.R. 2317 Retirement Savings Lost and Found Act of 2016 - S. 3078/H.R. 5805 Retirement Choice Protection Act of 2015 - H.R. 3922 Small Businesses Add Value for Employees Act (SAVE) Act of 2015 - H.R. 4067 Womens Pension Protection Act of 2015 - S. 2110/H.R. 4235 Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656/S. 3417 Affordable Retirement Advice Protection (ARAP) Act - H.R. 4293 Strengthening Access to Valuable Education & Retirement Support (SAVERS) Act - H.R. 4294 Financial Choice Act of 2016 - H.R. 5983 Secure, Accessible, Valuable, Efficient, Universal Pension (SAVE UP) Act - H.R. 5731 EEOC Reform Act - S. 2693 Retirement Improvements and Savings Enhancements (RISE) Act of 2016 - Early Draft of retirement reform legislation Retirement Enhancement and Savings (RES) Act - modified version Final Fiduciary Definition/Conflict of Interest Rule Proposed & New Revisions to EEO-1 Form - annual Employer Information Report Proposed Form 5500 Changes Executive & nonqualified deferred compensation Multiemployer pension plan issues Multiple employer plans (MEPs) State retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program Paid leave proposals and issues - Healthy Families Act, S.497/H.R. 932, Working Families Flexibility Act, S. 233 Student loan repayment benefit - Employer Participation in Student Loan Assistance Act - S. 2467/H.R. 3861 Missing Participants
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act of 2015 S3025 - Graduate Student Savings Act of 2016 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bills: HR1090 - Retail Investor Protection Act of 2015 HR4294 - Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act HR4293 - Affordable Retirement Advice Act Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus Retirement Plan Fees
Client expense: $350,000 · Firm income: Not reported
2016 · second_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act - S. 2110 - Womans Pension Protection Act of 2015 - S. 3078 Retirement Savings Lost and Found Act of 2016 - H.R. 2029 - Consolidated Appropriations Act, 2016 - H.R. 4236 - Financial Security Credit Act of 2015 - H.R. 4294 - Strengthening Access to Valuable Education and Retirement Support Act of 2015 - H.R. 4293 - Affordable Retirement Advice Protection Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 4955 - Pension and Budget Integrity Act of 2016
Client expense: $203,895 · Firm income: Not reported
2016 · second_quarter · Retirement
FY 2017 Federal Budget Proposal - retirement policy initiatives Tax reform - employer sponsored retirement plans House Republicans Tax Reform Task Force Defined Benefit Plan Issues Mortality table updates De-risking pensions methods Non-discrimination issues affecting defined benefit plans PGBC premiums Hybrid plan rules Pension Portability Act - S. 2147/H.R. 4029 Pension and Budget Integrity Act of 2016 - H.R. 4955 Defined Contribution plan issues Lifetime income Plan fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Retail Investors Protection Act - H.R. 1090 The Lifetime Income Disclosure Act - S. 1317/H.R. 2317 Retirement Savings Lost and Found Act of 2016 - S. 3078 Retirement Choice Protection Act of 2015 - H.R. 3922 Small Businesses Add Value for Employees Act (SAVE) Act of 2015 - H.R. 4067 Womens Pension Protection Act of 2015 - S. 2110/H.R. 4235 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Affordable Retirement Advice Protection (ARAP) Act - H.R. 4293 Strengthening Access to Valuable Education & Retirement Support (SAVERS) Act - H.R. 4294 Re-proposed Definition of Fiduciary Rule - Final Conflict of Interest Rule Executive & nonqualified deferred compensation Multiemployer pension plan issues Multiple employer plans (MEPs) Retirement plan access proposals - state retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program Paid leave proposals and issues - Healthy Families Act, S.497/H.R. 932, Working Families Flexibility Act, S. 233 Student loan repayment benefit - Employer Participation in Student Loan Assistance Act - S. 2467/H.R. 3861 Missing Participants
Client expense: $197,550 · Firm income: Not reported
2016 · second_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090/S.2497: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656- Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 H.R. 4955 - Pension and Budget Integrity Act of 2016 - to amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude the receipts and disbursements of the Pension Benefit Guaranty Corporation (PBGC) from the federal budget. S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution. S.2502: Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act.
2016 · first_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act - S. 2110 - Womans Pension Protection Act of 2015 - H.R. 2029 - Consolidated Appropriations Act, 2016 - H.R. 4236 - Financial Security Credit Act of 2015 - H.R. 4294 - Strengthening Access to Valuable Education and Retirement Support Act of 2015 - H.R. 4293 - Affordable Retirement Advice Protection Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act
Client expense: $247,833 · Firm income: Not reported
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings Act of 2015 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bills: HR1090 - Retail Investor Protection Act of 2015 HR4294 - Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act HR4293 - Affordable Retirement Advice Act Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus Retirement Plan Fees
Client expense: $490,000 · Firm income: Not reported
2016 · first_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090/S.2497: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656- Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution. S.2502: Affordable Retirement Advice Protection Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to define "investment advice," as it relates to fiduciary duties under such Act, as a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment of the obligation of the investment advisor to act in accordance with fiduciary standards under ERISA; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill allows an exemption from ERISA prohibited transactions rules for investment advice: (1) for which no more than reasonable compensation is paid; or (2) that is based on a limited range of investment options or may result in variable income to the investment advisor if a clearly-stated notice is provided to the advice recipient that the same or similar investments may be available at a greater or lesser cost from other sources. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under ERISA and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act.
2016 · first_quarter · Retirement
FY 2017 Federal Budget Proposal - retirement policy initiatives Tax reform - employer sponsored retirement plans Defined Benefit Plan Issues Mortality table updates De-risking pensions methods Non-discrimination issues affecting defined benefit plans PGBC premiums Hybrid plan rules Pension Portability Act - S. 2147/H.R. 4029 Defined Contribution plan issues Lifetime income Plan fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Retail Investors Protection Act - H.R. 1090 The Lifetime Income Disclosure Act - S. 1317/H.R. 2317 Retirement Choice Protection Act of 2015 - H.R. 3922 Small Businesses Add Value for Employees Act (SAVE) Act of 2015 - H.R. 4067 Womens Pension Protection Act of 2015 - S. 2110/H.R. 4235 Affordable Retirement Advice Protection (ARAP) Act - H.R. 4293 Strengthening Access to Valuable Education & Retirement Support (SAVERS) Act - H.R. 4294 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Re-proposed Definition of Fiduciary Rule - Conflict of Interest Rule Executive & nonqualified deferred compensation Multiemployer pension plan issues Multiple employer plans (MEPs) Retirement plan access proposals - state retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program Paid leave proposals and issues - Healthy Families Act, S.497/H.R. 932, Working Families Flexibility Act, S. 233 Student loan repayment benefit - Employer Participation in Student Loan Assistance Act - S. 2467/H.R. 3861
Client expense: $265,502 · Firm income: Not reported
2015 · second_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act
Client expense: $274,312 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
2015 · fourth_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act - S. 2110 - Womans Pension Protection Act of 2015 - H.R. 2029 - Consolidated Appropriations Act, 2016 - H.R. 4236 - Financial Security Credit Act of 2015 - H.R. 4294 - Strengthening Access to Valuable Education and Retirement Support Act of 2015 - H.R. 4293 - Affordable Retirement Advice Protection Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act
Client expense: $215,658 · Firm income: Not reported
2015 · fourth_quarter · Taxation/Internal Revenue Code
S. 324 - Shrinking Emergency Account Losses Act of 2015 (Enzi) H.R. 2029 - Protecting Americans from Tax Hikes Act of 2015 Retirement Savings Tax Incentives Capital Gains and Dividend Tax Rates International Regulated Investment Company Tax-Exemption for Municipal Bond Interest ABLE Act Implementation Financial Transaction Tax
Client expense: $1,092,912 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of, White House Office
2015 · fourth_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656- Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. H.R.4293 - Affordable Retirement Advice Protection Act: to amend the Employee Retirement Income Security Act of 1974 to ensure that retirement investors receive advice in their best interests H. R. 4294 -To amend the Internal Revenue Code of 1986 to ensure that retirement investors receive advice in their best interests. Strengthening Access to Valuable Education and Retirement Support Act of 2015 S.245-Automatic IRA Act of 2015: Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
2015 · fourth_quarter · Retirement
Bipartisan Budget Act of 2015 (Defined benefit provisions) - H.R. 1314/Public Law No: 114-74 Consolidated Appropriations Act, 2016 (spending and tax extenders) Defined Benefit Plan Issues Mortality Table Updates De-Risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC Issues Final hybrid plan rules Pension Protection Act: funding regulations Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 - H.R. 3236 - Extension of Section 420 Transfers The Pension Accountability Act - S. 2147/H.R. 4029 Defined contribution plan issues Lifetime income Plan Fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Retail Investors Protection Act - H.R. 1090 The Lifetime Income Disclosure Act - S. 1317/H.R. 2317 Retirement Choice Protection Act of 2015 - H.R. 3922 Small Businesses Add Value for Employees Act (SAVE) Act of 2015 - H.R. 4067 Womens Pension Protection Act of 2015 - S. 2110/H.R. 4235 Affordable Retirement Advice Protection (The ARAP) Act - H.R. 4293 Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act - H.R. 4294 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest rule Executive & Nonqualified deferred compensation Multiemployer pension plan issues Multiple Employer plans Retirement plan access proposals - state retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings Act of 2015 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bill: HR1090 - Retail Investor Protection Act of 2015 HR4294 - Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act HR4293 - Affordable Retirement Advice Act Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus
Client expense: $460,000 · Firm income: Not reported
2015 · third_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act
Client expense: $299,452 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
2015 · third_quarter · Taxation/Internal Revenue Code
S. 324 - Shrinking Emergency Account Losses Act of 2015 (Enzi) S. 1371 - Inclusive Prosperity Act of 2015 (Sanders) S. 1946 - Tax Relief Extension Act of 2015 (Hatch) H.R. 1464 - Inclusive Prosperity Act of 2015 (Ellison) H.R. 2821 - Partnership Audit Simplification Act of 2015 (Renacci) Retirement Savings Tax Incentives Comprehensive Tax Reform Capital Gains and Dividend Tax Rates International Regulated Investment Company Tax-Exemption for Municipal Bond Interest ABLE Act Implementation Financial Transaction Tax
Client expense: $1,947,493 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of, White House Office
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings Act of 2015 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bill: HR1090 - Retail Investor Protection Act of 2015 Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus
Client expense: $470,000 · Firm income: Not reported
2015 · third_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. H.R. 2656- Receiving Electronic Statements To Improve Retiree Earnings Act: To amend the Employee Retirement and Income Security Act of 1974 and the Internal Revenue Code of 1986 to provide for the electronic delivery of pension plan information. S.245-Automatic IRA Act of 2015Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
2015 · third_quarter · Retirement
Administration FY 2016 Federal Budget Proposal - retirement plan proposals 2016 Budget Resolutions - House & Senate - benefits policy A Balanced Budget for a Stronger America - House Republican Budget Proposal - retirement related provisions Defined Benefit Plan Issues Mortality Table Updates De-Risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC Issues Final Hybrid plan rules Pension Protection Act: funding regulations Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 - H.R. 3236 - Extension of Section 420 Transfers Defined contribution plan issues Lifetime income Plan Fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 The Lifetime Income Disclosure Act - S. 1317 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits - Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest rule Executive & Nonqualified deferred compensation Multiemployer pension plan issues Multiple Employer plans ESOP dividend deduction Retirement plan access proposals - state retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program
Client expense: $205,288 · Firm income: Not reported
2015 · third_quarter · Retirement
Administration FY 2016 Federal Budget Proposal - retirement plan proposals 2016 Budget Resolutions - House & Senate - benefits policy A Balanced Budget for a Stronger America - House Republican Budget Proposal - retirement related provisions Defined Benefit Plan Issues Mortality Table Updates De-Risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC Issues Final Hybrid plan rules Pension Protection Act: funding regulations Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 - H.R. 3236 - Extension of Section 420 Transfers Defined contribution plan issues Lifetime income Plan Fees Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 The Lifetime Income Disclosure Act - S. 1317 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits - Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest rule Executive & Nonqualified deferred compensation Multiemployer pension plan issues Multiple Employer plans ESOP dividend deduction Retirement plan access proposals - state retirement plan initiatives Plan administration - certification of hardship withdrawals and determination letter program
Client expense: $295,288 · Firm income: Not reported
2015 · second_quarter · Retirement
Administration FY 2016 Federal Budget Proposal - retirement plan proposals 2016 Budget Resolutions - House & Senate - benefits policy A Balanced Budget for a Stronger America - House Republican Budget Proposal - retirement related provisions Defined Benefit Plan Issues Mortality Table Updates De-Risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC premiums Hybrid retirement plans -Treasury Department finalization of proposed regulations & legislation Pension Protection Act definition of liquidity shortfall Defined contribution plan issues Lifetime income illustration Roth 401(k)s and Roth IRAs Section 408 (b) (2) participant disclosure requirements Section 408 (b) (2) Guide Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 The Lifetime Income Disclosure Act - S. 1317 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits - Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest Executive & Deferred compensation - pay for performance, par ratio, timing of taxation, substantial risk of forfeiture, Internal Revenue Code Sec. 409A Derivatives issues (Dodd-Frank impact on retirement plan investments) Foreign Account Taxpayer Compliance Act (FATCA) - exemption for foreign retirement plans Regulation of Money Market Funds Multiemployer pension plan issues Multiple Employer plans ESOP dividend deduction Retirement plan access proposals - state retirement plan initiatives Death Master File (DMF) Taxation of distributions, minimum distribution requirements Plan administration - certification of hardship withdrawals and determination letter program
2015 · second_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 - S. 1317 Lifetime Income Disclosure Act H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner) - H.R. 2317 Lifetime Income Disclosure Act - H.R. 2656, Receiving Electronic Statements to Improve Retiree Earnings Act
Client expense: $274,312 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 HR2317/S1317 - Lifetime Income Disclosure Act of 2015 HR2656 - Receiving Electronic Statements to Improve Retiree Earnings Act of 2015 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bill: HR1090 - Retail Investor Protection Act of 2015 Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design and Modernization Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Electronic Delivery of Plan Documents Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus
Client expense: $340,000 · Firm income: Not reported
2015 · second_quarter · Retirement
Administration FY 2016 Federal Budget Proposal - retirement plan proposals 2016 Budget Resolutions - House & Senate - benefits policy A Balanced Budget for a Stronger America - House Republican Budget Proposal - retirement related provisions Defined Benefit Plan Issues Mortality Table Updates De-Risking pensions methods Non-discrimination issues affecting defined benefit plans PBGC premiums Hybrid retirement plans -Treasury Department finalization of proposed regulations & legislation Pension Protection Act definition of liquidity shortfall Defined contribution plan issues Lifetime income illustration Roth 401(k)s and Roth IRAs Section 408 (b) (2) participant disclosure requirements Section 408 (b) (2) Guide Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 The Lifetime Income Disclosure Act - S. 1317 The Receiving Electronic Statements to Improve Retiree Earnings Act - H.R. 2656 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits - Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest Executive & Deferred compensation - pay for performance, par ratio, timing of taxation, substantial risk of forfeiture, Internal Revenue Code Sec. 409A Derivatives issues (Dodd-Frank impact on retirement plan investments) Foreign Account Taxpayer Compliance Act (FATCA) - exemption for foreign retirement plans Regulation of Money Market Funds Multiemployer pension plan issues Multiple Employer plans ESOP dividend deduction Retirement plan access proposals - state retirement plan initiatives Death Master File (DMF) Taxation of distributions, minimum distribution requirements Plan administration - certification of hardship withdrawals and determination letter program
2015 · second_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. S.245-Automatic IRA Act of 2015Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
2015 · second_quarter · Taxation/Internal Revenue Code
S. 324 - Shrinking Emergency Account Losses Act of 2015 (Enzi) S. 915 - Real Estate Investment and Jobs Act of 2015 (Hatch) S. 1371 - Inclusive Prosperity Act of 2015 (Sanders) H.R. 1464 - Inclusive Prosperity Act of 2015 (Ellison) Retirement Savings Tax Incentives Comprehensive Tax Reform Section 871(k) Flow-through of Certain Dividends Capital Gains and Dividend Tax Rates International Regulated Investment Company Tax-Exemption for Municipal Bond Interest Financial Transaction Tax
Client expense: $1,198,041 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of, White House Office
2015 · first_quarter · Retirement
H.R.506: Automatic IRA Act of 2015- Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. H.R.557: Retirement Security Act of 2015- Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. H.R. 1090: Retail Investor Protection Act-Prohibits the Secretary of Labor from prescribing any regulation under the Employee Retirement Income Security Act of 1974 (ERISA) defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission (SEC) issues a final rule governing standards of conduct for brokers and dealers under specified law. Amends the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it reports to certain congressional committees whether: (1) retail investors and other customers are being harmed due to brokers or dealers operating under different standards of conduct than those applicable to investment advisors under the Investment Advisers Act of 1940; (2) alternative remedies will reduce any confusion or harm to retail investors due to brokers or dealers operating under such different standards of conduct; (3) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact their commissions and the availability of proprietary products offered by brokers and dealers, as well as the ability of brokers and dealers to engage in principal transactions with customers; and (4) adoption of a uniform fiduciary standard of conduct for brokers or dealers and investment advisors would adversely impact retail investor access to personalized, cost-effective investment advice and recommendations. Requires the SEC: (1) to publish in the Federal Register formal findings that such rule would reduce retail customer confusion or harm due to standards of conduct applicable to brokers, dealers, and investment advisors; and (2) in proposing rules to consider the differences in the registration, supervision, and examination requirements applicable to brokers, dealers, and investment advisors. S.245-Automatic IRA Act of 2015Amends the Internal Revenue Code to: (1) require certain employers who do not maintain qualifying retirement plans or arrangements to make available to their eligible employees a payroll deposit individual retirement account (IRA) arrangement (automatic IRA arrangement) which grants such employees the right to opt-out of participation; (2) require the Secretary of the Treasury to provide employers with a model notice for notifying employees of their opportunity to participate in an automatic IRA arrangement and to provide participants with an annual statement setting forth payments, earnings, value, and other specified information; (3) impose a penalty on employers who fail to provide eligible employees access to an automatic IRA arrangement; (4) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing an automatic IRA arrangement; and (5) increase the dollar limitation on the tax credit for small employer pension plan startup costs. Establishes an Automatic IRA Advisory Group to make recommendations regarding automatic IRA investment options. Requires the Secretary and the Secretary of Labor to jointly conduct feasibility studies on: (1) extending spousal consent requirements to automatic IRA arrangements; (2) automatically transferring amounts saved by employees in retirement bonds into alternative, private sector, diversified investments when employees' automatic IRA balances reach a certain dollar level; (3) using investment data to notify individuals with multiple small balance retirement accounts of consolidation options; and (4) using investment arrangements associated with automatic IRAs to assist in addressing the problem of abandoned accounts. Directs the Secretaries to prescribe administrative guidance for the use of multiple employer plans by December 31, 2015. S.266 - Retirement Security Act of 2015-Directs the Secretary of the Treasury to: (1) prescribe final regulations to permit employers to participate in multiple employer pension benefit plans, (2) promulgate regulations or other guidance to simplify and clarify rules relating to the timing of participant notices required under tax-preferred pension plans and the automatic escalation rules, and (3) modify the 1040EZ tax return form to allow taxpayers to claim the tax credit for retirement savings (saver's credit) on such form. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, with respect to employer pension benefit plans, to: (1) allow employers to maintain a tax-exempt multiple employer pension benefit plan even if the employers sponsoring the plan share no common interest, (2) modify requirements for secure deferral arrangements with respect to nondiscrimination and employer matching contributions, and (3) allow employers with not more than 100 employees a business-related tax credit to cover increased matching contributions required by this Act. S.324: Shrinking Emergency Account Losses Act of 2015 or the SEAL Act-Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts. Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
Retirement Security as in the following bills: S324 - Shrinking Emergency Account Losses Act of 2015 (SEAL Act) HR506/S245 - Automatic IRA Act of 2015 HR557/S266 - Retirement Security Act of 2015 DOL & SEC Fiduciary Proposals (DOL Fiduciary Definition Regulation/SEC Project to Harmonize Broker-Dealer Fiduciary Standards) as in the following bill: HR1090 - Retail Investor Protection Act of 2015 Providing Lifetime Income Illustrations on Retirement Benefit Statements Tax Benefits of Defined Contribution Plans Defined Contribution Retirement Plan Design Fiduciary Concerns Related to Advice and Education in Retirement Plans Stretch IRA Retirement Plan Consolidation Tax Reform as it relates to retirement plans Qualified Default Investment Alternatives (QDIA) Safe Harbor for Plan Sponsors Including Annuity Providers on Plan Menus
Client expense: $450,000 · Firm income: Not reported
2015 · first_quarter · Retirement
S. 245, Automatic IRA Act of 2015 S. 324, SEAL Act S. 266, Retirement Security Act of 2015 H.R. 506, Automatic IRA Act of 2015 H.R. 577, Retirement Security Act of 2015 H.R. 1090, Retail Investor Protection Act (Wagner)
Client expense: $274,312 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
2015 · first_quarter · Taxation/Internal Revenue Code
S. 174 - Stop Tax Haven Abuse Act (Whitehouse) S. 324 - Shrinking Emergency Account Losses Act of 2015 (Enzi) H.R. 644 - America Gives More Act of 2015 (Reed) H.R. 1464 - Inclusive Prosperity Act of 2015 (Ellison) Comprehensive Tax Reform Section 871(k) Flow-through of Certain Dividends Capital Gains and Dividend Tax Rates FIRPTA Stretch IRAs Contribution Limits for Retirement Plans International Regulated Investment Company Tax-Exemption for Municipal Bond Interest Financial Transaction Tax 529 Plans
Client expense: $1,275,212 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2015 · first_quarter · Retirement
Administration FY 2016 Federal Budget Proposal - retirement plan proposals 2016 Budget Resolutions - House & Senate - benefits policy A Balanced Budget for a Stronger America - House Republican Budget Proposal - retirement related provisions White House Fact Sheet - Retirement reform proposals Tax reform - limitations on itemized deductions and exclusions affecting retirement savings Defined Benefit Plan Issues Mortality Table Updates De-Risking methods Non-discrimination issues affecting defined benefit plans PBGC premiums Pension Protection Act definition of liquidity shortfall Defined contribution plan issues Lifetime income illustration Roth 401(k)s and Roth IRAs Section 408 (b) (2) participant disclosure requirements Section 408 (b) (2) Guide Shrinking Emergency Account Losses (SEAL) Act - S. 324 Automatic IRA Act of 2015 - H.R. 506/S. 245 Retirement Security Act of 2015 - H.R. 557/S. 266 Comprehensive Tax Reform for 2015 and Beyond - employer sponsored benefits - Senate Finance Committee - Working Group on savings and investment - tax incentives for retirement in employer sponsored plans and improvements Other Issues Re-proposal Definition of Fiduciary Rule - conflict of interest Hybrid retirement plans -Treasury Department finalization of proposed regulations & legislation Executive compensation - pay for performance, timing of taxation, substantial risk of forfeiture, Internal Revenue Code Sec. 409A Derivatives issues (Dodd-Frank impact on retirement plan investments) Foreign Account Taxpayer Compliance Act (FATCA) - exemption for foreign retirement plans Regulation of Money Market Funds Multiemployer pension plan issues ESOP dividend deduction Retirement plan access proposals - state retirement plan initiatives Death Master File (DMF)
Client expense: $272,253 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Client expense: $426,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Client expense: $199,689 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Office of Management & Budget (OMB), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE, Securities & Exchange Commission (SEC)
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
Government targets: Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE, Treasury, Dept of
Client expense: $745,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Management & Budget (OMB), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC)
Client expense: $435,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Client expense: $290,447 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Office of Management & Budget (OMB), Pension Benefit Guaranty Corporation (PBGC), SENATE, Treasury, Dept of
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Economic Council (NEC), SENATE
Client expense: $435,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Government targets: Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Client expense: $228,533 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commodity Futures Trading Commission (CFTC), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Client expense: $188,533 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commodity Futures Trading Commission (CFTC), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Client expense: $340,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Client expense: $910,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Office of Management & Budget (OMB), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of