SIMPLE Plan Modernization Act

H.J.R. 143, H.R. 695, Short-term Continuing Appropriations Act Resolution, 2019, H.R.6147, Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019 - Lobbied in opposition to inclusion of hostile riders concerning SEC and DOL fiduciary duty rules with House and Senate Appropriations Committee staff. Discussed concerns regarding the Security and Exchange Commission (SEC) proposed rulemaking on a new standard of conduct for broker-dealers. H.R. 4610, Receiving Electronic Statements to Improve Retiree Earnings Act - Opposed permitting electronic delivery to be the default method for providing important retirement plan disclosures and notices. H.R. 5282/S. 2526, the Retirement Enhancement and Savings Act - Supported bill. S. 3197, SIMPLE plan Modernization Act - Supported bill. S. 3781 - Retirement Security and Savings Act of 2018 - Supported bill. Discussed retirement issues relevant to tax reform. Discussed Congressional Multiemployer Pension Plan Committee and Multiemployer Pension issues. Discussed contingent workers and personal pension legislative options and issues. Discussed women's Social Security and retirement issues. Discussed small employer retirement issues. Discussed problems with paid family leave through Social Security. Discussed the Windfall Elimination Provision in Social Security with House staff. Submitted comments to the Department of Labor on multiple employer plans and an application by the Retirement Clearinghouse to automatically roll-over certain terminated retirement accounts.

Client expense: $2,140,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Centers For Medicare and Medicaid Services (CMS), Equal Employment Opportunity Commission (EEOC), Federal Highway Administration (FHA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), Natl Highway Traffic Safety Administration (NHTSA), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

Work with respect to proposals to enhance retirement savings opportunities for employers, employees, and individuals, including self correcting inadvertent plan errors. S. 223, Senior$afe Act. Small business tax credit. Issues related to the Department of Labor's regulation defining fiduciary. H.R. 3902, Small Employer Retirement Savings Auto-Enrollment Credit Act. SIMPLE IRAs. H.R. 4524, the Retirement Plan Simplification and Enhancement Act. S. 2526/H.R. 5282, Retirement Enhancement and Savings Act. Required minimum distribution issues. H.R. 6757, Family Savings Act. S. 3197 - SIMPLE Plan Modernization Act. S. 3781, Retirement Security and Savings Act. S. 3278, Protecting Taxpayers Act.

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 5282. S. 2526, Retirement Enhancement and Security Act (RESA) Allowing for open multiple employer plans: HR. 854, HR. 4637 Increasing retirement plan start-up credit for small business plans: HR. 4637, HR. 3902 Removing 10% auto-escalation limit: HR. 4637 Nondiscrimination testing: HR. 1962 PBGC premiums for CSEC plans: HR. 3596 Form 5500 reforms: HR. 1688 Portability of Lifetime income products: HR. 3910 403(b) retirement account participation clarification: HR. 2341 Annuity provider selection safe harbor: HR. 4604 Treatment of stipend payments: HR. 2916 Lifetime Income Disclosure: HR. 2055, S. 868 Tax treatment of qualified reimbursement payments to volunteer emergency responders: HR. 1550 H.R. 4610, RETIRE Act-- E-Delivery of retirement plan documents H.R. 4524, the Retirement Simplification and Enhancement Act--401(k) plan improvements and lifetime income provisions. H.R. 4523, the Automatic Retirement Plan Act--mandatory 401(k) H.R. 4637, The Small Businesses Add Value for Employees (SAVE) Act of 2017--various retirement savings improvement provisions. H.R. 4604, The Increasing Access to a Secure Retirement Act--measures to bolster Americans retirement security and annuity selection safe harbor. H.R.3857, PASS Act of 2017--Alternative to the DOL fiduciary rule SEC Best Interest Standard of Care for providing financial advice Department of Labor Fiduciary Rule for investment advice and related Congressional activity SEC Best Interest Rule Proposal-- proposed best interest standard for investment advice includes three main components: (1) Regulation Best Interest for Broker-Dealers; (2) Interpretive Guidance Regarding Standards for Conduct for Investment Advisors; and (3) A CSR Relationship Summary, a required disclosure in retail communications, and restrictions on BDs use of certain names and titles (i.e., advisor and adviser). S. 1383: Retirement Security Act of 2017. Issue: retirement security H.R. 2823, the Affordable Retirement Advice for Savers Act. Issue: alternative to the DOL fiduciary rule H.R. 3596, Rightsizing Pension Premiums Act of 2017: amends ERISA to alter the premiums for CSEC organizations. (Discussed this bill in the context of RESA) Pub.L. 111-148-The Patient Protection and Affordable Care Act, Issue: Assessments under state-based insurance exchanges. H.R.4225/S.2241 Legislation amending Affordable Care Act provisions on health exchange assessments. Issue: Health Exchange Assessments HR _____/ S._____ Appropriations for 2019 to support funding for SSA and SSDI hearing backlog. Issue: disability insurance. H.R. ___/S.___ Draft legislation on tax treatment and consumer financing for long-term care insurance. Issue: expanding long term care insurance coverage. H.R.____/S._____ Draft legislation to expand IRC Section 125 cafeteria plans to include long term care insurance. Issue: expanding long term care insurance. H.R.___/S._____ Draft legislation to allow auto enrollment of private disability insurance in employer provided plans. H.R. 5138, HR 6128 Legislation to expand use of HSAs. S. 3197, the SIMPLE Plan Modernization Act-- to enhance Savings Incentive Match Plan for Employees (SIMPLE) plans S.3221, Refund to Rainy Day Savings Act-- encourages people to save their tax refunds S.3218, Strengthening Financial Security Through Short-Term Savings Act-- facilitates emergency savings to prevent retirement account leakage S.3221, Retirement Flexibility Act-- expands the number of employers using automatic enrollment, automatic escalation, and other best practices S.3219, Small Business Employees Retirement Enhancement Act -- expends access to workplace retirement savings plans by allowing for open MEPs S. 3242, the American Savings Act- Bill to create a private sector Thrift Savings Plan (TSP) H.R. 6757, Family Savings Act-collection of retirement security changes to expand access to retirement plans and savings opportunities H.R. 6760, Protecting Family and Small Business Tax Cuts Act-- bill to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025. H.R. 6756American Innovation Act-improved expensing and capital rules for small businesses S. 3436, the Womens Pension Protection Act of 2018-- apply a modified version of the spousal consent rules to all defined contribution plans, and would require plans to offer participation to long-term part-time employees. HR 6990, Portable Retirement and Investment Account (PRIA) Act--Creates a government-run retirement system. S.2427/H.R. 6540, the Retirement Savings Lost and Found Act. Bill to create an online registry to enable retirement plan participants and beneficiaries to locate the plan administrator. H.R.6746 - Protecting American Taxpayers and Homeowners Act of 2018 H.R.6785 - To provide tax incentives to promote economic development in Economically Distressed Zones S.3781--Retirement Security and Savings Act of 2018, a bill to improve retirement security S. 3636--The Encouraging Americans to Save Act, savers tax credit expansion/match with myRA HR. 88--Retirement, Savings, and Other Tax Relief Act of 2018 (formerly Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act), make a variety of changes to the tax code. The bill would extend many tax provisions that expired at the end of 2017 and provide tax relief for victims of disasters, modify the requirements for tax-favored savings accounts and employer-provided retirement plans, change the deduction for start-up and organizational expenditures, make technical corrections to Public Law 115-97, and eliminate the increase in unrelated business taxable income related to certain transportation fringe benefits, among other things. S.3771--The Retirement Parity for Student Loans Act of 2018, permit401(k), 403(b), and SIMPLE retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. S.3795--Receiving Electronic Statements To Improve Retiree Earnings Act, amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to authorize the electronic delivery of pension plan documents required to be furnished to a plan participant, beneficiary, or other individual. H.R.6990--Portable Retirement and Investment Account Act, To create portable retirement and investment accounts for all Americans, and for other purposes

Client expense: $1,070,000 · Firm income: Not reported

Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Copyright Office, U.S. Postal Service (USPS)