Encouraging Americans to Save Act

Biofuels, Renewable Chemicals, Biobased Products and Feedstocks Definition Sustainability, carbon sequestration and renewable resources for biofuels, Renewable Chemicals, Biobased Products (non-funding) --S.193: Adopt the Greenhouse gases, Regulated Emissions, and Energy use in Transportation model Act or the Adopt GREET Act --H.R.3592; Adopt GREET Act --H.R.5376; Inflation Reduction Act of 2022 --H.R.5134, Biobased Manufacturing & Jobs Act --S. 2452, Biobased Manufacturing & Jobs Act Agencies Contacted: House Representatives Senate Lobbyists: Rina Singh CJ Evans

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

1.S. 1870/H.R. 7146, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 2.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 3.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 4.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 5.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 6.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 7.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k)-retirement plan while their employees make student loan repayments. 8. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 9.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 10.H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. 11. Audit Consolidation Act and the Simplifying Retirement Act: Allows group plans to file a single Form 5500 for the entire retirement plan, ensures small employers are not burdened with administrative complexities. Allows pooled employer providers who manage PEPs to utilize Discretionary or Directed Trustees to manage assets and collect contributions would help to contain costs and make plan easier to manage for the small employers who choose to participate. 12.H.R. 6746, Lifetime Income for Employees (LIFE) Act of 2022: Amends the current rules for qualified default investment alternatives to facilitate the use of an annuity component will expand the availability of guaranteed returns and guaranteed lifetime income that help savers secure their retirement futures. 13.The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. 14.The Rise and Shine Act: Senate HELP provisions covered by ERISA to be included with a Senate retirement package (SECURE 2.0). 15. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. 16. S.4103, Helping Parents Save for College Act of 2022: Would make two important changes to the way 529 college savings accounts are designed to increase utilization. 17. S.4087, INFORM Act: would require plan sponsors to provide participants and beneficiaries with the critical information that would allow them to make an informed decision when presented with such a lump-sum offer. The INFORM Act also would require a notice to affected participants and beneficiaries 90 days before the period in which they must make a decision. The INFORM Act would further require disclosure to the Department of Labor, so information can be collected on these practices. 18. S.3993, the Savings Access for Escaping and Rebuilding Act (SAFER) Act: A bill to amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans for domestic abuse victims. 19. S.1273, the Military Spouses Retirement Security Act: Would allow military spouses to vest earlier and provide incentives for employers. 20.American Worker Savings and Wealth Creation Plan Act: Would create a TSP type government-run retirement program. 21.Division T of the Consolidated Appropriations Act, 2023: Combines numerous retirement security bills, including the EARN act, Rise and Shine and SSRA into a comprehensive package. Would expand retirement savings for Americans. Income Security The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. H.R. 133, Both provisions are in the larger bill. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $1,271,337 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 2617 - Consolidated Appropriations Act, 2023; Division T, Secure 2.0 Act of 2022; provisions relating to retirement savings reform H.R. 5376 - Inflation Reduction Act of 2022; provisions relating to corporate, and individual and investment taxes S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives Not Yet Introduced: Modification to wash sales rules under 1099-B

Client expense: $260,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress. S.4353 Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act. This bill addresses retirement system improvements under ERISA. A summary is in process. EARN Act S 4808: Summary is in Progress HR 9515, General Account Product Clarification Act Summary in process. Bill is intended to amend the Employee Retirement Income Security Act of 1974.

Client expense: $551,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 2954 - Securing a Strong Retirement Act Issues related to S. Con. Res. 14; H.R. 5376 Build Back Better H.R. 6746 - The Lifetime Income for Employees Act (LIFE Act) S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act H.R.2617 - Consolidated Appropriations Act, 2023

Client expense: $390,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 2954 - Securing a Strong Retirement Act. Issues related to S Con Res 14; HR 5376 Build Back Better. HR 6746 - The Lifetime Income for Employees Act (LIFE Act). S. 331 / HR 1219 ABLE Age Adjustment Act. S. 4353 - RISE & SHINE Act. S. 2452 - Encouraging Americans to Save Act. H.R.2617 - Consolidated Appropriations Act, 2023.

Client expense: Not reported · Firm income: $50,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans S 4102 SSI Savings Penalty Elimination Act - increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program HR 8521/S 4241 INDEX Act - guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes S 4613 Maximize Americans Retirement Security Act - clarify the fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors HR 8579 Retirement Protection Act of 2022 - increase retirement savings, simplify and clarify retirement plan rules S 4808 EARN Act - to reform retirement provisions S 4973 Retirement Savings Modernization Act - amend the Employee Retirement Income Security Act of 1974 to clarify the fiduciary duties regarding asset classes. HR 9252/ S 4406 Advancing Auto Portability Act - allows employees to transfer their retirement account upon terminating their employment to a similar account with a new employer. HR 9462/S 5271 Retirement Savings for Americans Act - establish the American Worker Retirement Plan HR 2617 Consolidated Appropriations Act, 2023 - to fund the government for through FY23, includes various retirement security provisions

Client expense: $810,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S 1260 - US Innovation and Competition Act HR 4521 - America COMPETES Act of 2022 Issues related to the FTCs proposed amendments to the premerger notification rules that implement the Hart-Scott-Rodino Antitrust Improvements Act S. 4241 - INDEX Act S.331/H.R.1219 - ABLE Age Adjustment Act S.4808 - EARN Act HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - LIFE Act S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act Issues related to 529 college savings plans Changes to the Hart Scott Rodino filing requirements and the impact for asset managem

Client expense: Not reported · Firm income: Not reported

S 1260 - US Innovation and Competition Act HR 4521 - America COMPETES Act of 2022 Issues related to the FTCs proposed amendments to the premerger notification rules that implement the Hart-Scott-Rodino Antitrust Improvements Act S. 4241 - INDEX Act S.331/H.R.1219 - ABLE Age Adjustment Act S.4808 - EARN Act HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - LIFE Act S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act Issues related to 529 college savings plans Changes to the Hart Scott Rodino filing requirements and the impact for asset managem

Client expense: Not reported · Firm income: Not reported

S 1260 - US Innovation and Competition Act HR 4521 - America COMPETES Act of 2022 Issues related to the FTCs proposed amendments to the premerger notification rules that implement the Hart-Scott-Rodino Antitrust Improvements Act S. 4241 - INDEX Act S.331/H.R.1219 - ABLE Age Adjustment Act S.4808 - EARN Act HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - LIFE Act S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act Issues related to 529 college savings plans Changes to the Hart Scott Rodino filing requirements and the impact for asset managem

Client expense: Not reported · Firm income: Not reported

S 1260 - US Innovation and Competition Act HR 4521 - America COMPETES Act of 2022 Issues related to the FTCs proposed amendments to the premerger notification rules that implement the Hart-Scott-Rodino Antitrust Improvements Act S. 4241 - INDEX Act S.331/H.R.1219 - ABLE Age Adjustment Act S.4808 - EARN Act HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - LIFE Act S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act Issues related to 529 college savings plans Changes to the Hart Scott Rodino filing requirements and the impact for asset managem

Client expense: Not reported · Firm income: Not reported

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 5376 - Inflation Reduction Act of 2022; provisions relating to corporate, and individual and investment taxes S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives

Client expense: $190,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

1.S. 1870/H.R. 7146, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 2.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 3.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 4.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 5.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 6.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 7.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k)-retirement plan while their employees make student loan repayments. 8. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 9.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 10. H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. 11. Audit Consolidation Act and the Simplifying Retirement Act: Allows group plans to file a single Form 5500 for the entire retirement plan, ensures small employers are not burdened with administrative complexities. Allows pooled employer providers who manage PEPs to utilize Discretionary or Directed Trustees to manage assets and collect contributions would help to contain costs and make plan easier to manage for the small employers who choose to participate. 12.H.R. 6746, Lifetime Income for Employees (LIFE) Act of 2022: Amends the current rules for qualified default investment alternatives to facilitate the use of an annuity component will expand the availability of guaranteed returns and guaranteed lifetime income that help savers secure their retirement futures. 13.The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. 14.The Rise and Shine Act: SENATE HELP provisions covered by ERISA to be included with a Senate retirement package (SECURE 2.0). 15. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. 16. S.4103, Helping Parents Save for College Act of 2022: Would make two important changes to the way 529 college savings accounts are designed to increase utilization. 17. S.4087, INFORM Act: would require plan sponsors to provide participants and beneficiaries with the critical information that would allow them to make an informed decision when presented with such a lump-sum offer. The INFORM Act also would require a notice to affected participants and beneficiaries 90 days before the period in which they must make a decision. The INFORM Act would further require disclosure to the Department of Labor, so information can be collected on these practices. 18. S.3993, the Savings Access for Escaping and Rebuilding Act (SAFER) Act: A bill to amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans for domestic abuse victims. 19. S.1273, the Military Spouses Retirement Security Act: Would allow military spouses to vest earlier and provide incentives for employers. 20.American Worker Savings and Wealth Creation Plan Act: Would create a TSP type government-run retirement program. Income Security The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. H.R. 133, Both provisions are in the larger bill. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $792,515 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - The Lifetime Income for Employees Act (LIFE Act) S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act

Client expense: $400,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress. S.4353 Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act. This bill addresses retirement system improvements under ERISA. A summary is in process. EARN Act S 4808: Summary is in Progress

Client expense: $538,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans S 4406,Advancing Auto Portability Act -- to provide incentives for the use of automatic portability arrangements under defined contribution plans S 4102 SSI Savings Penalty Elimination Act - increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program HR 8521/S 4241 INDEX Act - guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes S 4613 Maximize Americans Retirement Security Act - clarify the fiduciary duty of plan administrators to select and maintain investments based solely on pecuniary factors HR 8579 Retirement Protection Act of 2022 - increase retirement savings, simplify and clarify retirement plan rules S 4808 EARN Act - to reform retirement provisions

Client expense: $900,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

1.S. 1870/H.R. 7146, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 2.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 3.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 4.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 5.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 6.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 7.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. 8. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 9.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 10. H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. 11. Audit Consolidation Act and the Simplifying Retirement Act: Allows group plans to file a single Form 5500 for the entire retirement plan, ensures small employers are not burdened with administrative complexities. Allows pooled employer providers who manage PEPs to utilize Discretionary or Directed Trustees to manage assets and collect contributions would help to contain costs and make plan easier to manage for the small employers who choose to participate. 12.H.R. 6746, Lifetime Income for Employees (LIFE) Act of 2022: Amends the current rules for qualified default investment alternatives to facilitate the use of an annuity component will expand the availability of guaranteed returns and guaranteed lifetime income that help savers secure their retirement futures. 13.The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. 14.The Rise and Shine Act: SENATE HELP provisions covered by ERISA to be included with a Senate retirement package (SECURE 2.0). 15. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. 16. S.4103, Helping Parents Save for College Act of 2022: Would make two important changes to the way 529 college savings accounts are designed to increase utilization. 17. S.4087, INFORM Act: would require plan sponsors to provide participants and beneficiaries with the critical information that would allow them to make an informed decision when presented with such a lump-sum offer. The INFORM Act also would require a notice to affected participants and beneficiaries 90 days before the period in which they must make a decision. The INFORM Act would further require disclosure to the Department of Labor, so information can be collected on these practices. 18. S.3993, the Savings Access for Escaping and Rebuilding Act (SAFER) Act: A bill to amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans for domestic abuse victims. 19. S.1273, the Military Spouses Retirement Security Act: Would allow military spouses to vest earlier and provide incentives for employers. Income Security The Enhancing American Retirement Now (EARN) Act: Builds upon S. 1770 with additional retirement provisions. Considered the Senate version of SECURE 2.0. S. 2415 and H.R. 7107, the Long-Term Care Affordability Act: Would allow for tax free distributions from retirement accounts to fund LTC contracts. H.R. 133, Both provisions are in the larger bill. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $743,405 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 5376 - The Build Back Better Act (BBBA); provisions relating to paid family medical leave, corporate, and individual and investment taxes S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives

Client expense: $190,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 2954 - Securing a Strong Retirement Act Issues related to S Con Res 14; HR 5376 Build Back Better HR 6746 - The Lifetime Income for Employees Act (LIFE Act) S. 331 / HR 1219 ABLE Age Adjustment Act S. 4353 - RISE & SHINE Act S. 2452 - Encouraging Americans to Save Act

Client expense: $410,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress. S.4353 Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act. This bill addresses retirement system improvements under ERISA. A summary is in process.

Client expense: $518,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 5891, Retirement Improvement and Savings Enhancement (RISE) Act - to improve and enhance retirement savings HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions. HR 7310, Protecting America's Retirement Security Act -- To protect Americas retirement security S 3955, Starter-K Act of 2022 -- allows employers who do not provide a retirement plan to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022 HR 7284, Informed Savers Act -- requires the Department of Labor to review the fee disclosure requirements associated with the administration of defined contribution retirement plans S 4086,Increasing Small Business Retirement Choices Act -- amend the Employee Retirement Income Security Act of 1974 to better enable plan sponsors to implement beneficial plan features S 4087, Information Needed for Financial Options Risk Mitigation (INFORM) Act -- require pension plans that offer participants and beneficiaries the option of receiving lifetime annuity payments as lump sum payments, to meet certain notice and disclosure requirements S 4103, Helping Parents Save for College Act of 2022 -- allows a retirement savings tax credit for contributions to any qualified tuition program (e.g., a 529 qualified tuition plan). It also permits a rollover of unused contributions to a ROTH IRA savings account S 4147, Financial Freedom Act -- prohibit the Secretary of Labor from constraining the range or type of investments that may be offered in individual retirement accounts S 4154, Simplifying Small Business Retirement Savings Act -- provide better access to retirement plans through small businesses S 4153, Incentivizing Small Business Retirement Savings Act -- allows eligible small employers an additional pension plan startup cost tax credit HR 7740/S 4219, Employee and Retiree Access to Justice Act - limit mandatory arbitration agreements under ERISA ISSUE, Davis-Bacon Benefits Proposed Rule DOL S 4241, INDEX Act -- to require investment advisers for passively managed funds to arrange for pass-through voting of proxies HR 7594/S 4097, Too Narrow to Succeed Act - instruct DOL to conduct a survey of best practices for increasing the diversity of the asset management firms that invest American workers retirement plan funds S 4310, Emergency Savings Act of 2022 -- allow employers to offer pension-linked emergency savings accounts for financial emergencies S 4353, RISE and SHINE Act -- amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions S 4361, Savvy Savers Act -- require reports to Congress on reporting and disclosure requirements related to retirement plans DRAFT, Enhancing American Retirement Now (EARN) Act - to improve retirement security S 4406,Advancing Auto Portability Act -- to provide incentives for the use of automatic portability arrangements under defined contribution plans

Client expense: $940,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

1.S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 2.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 3.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 4.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 5.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 6.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 7.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. 8. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 9.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 10.H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. 11. Audit Consolidation Act and the Simplifying Retirement Act: Allows group plans to file a single Form 5500 for the entire retirement plan, ensures small employers are not burdened with administrative complexities. Allows pooled employer providers who manage PEPs to utilize Discretionary or Directed Trustees to manage assets and collect contributions would help to contain costs and make plan easier to manage for the small employers who choose to participate. 12.H.R. 6746, Lifetime Income for Employees (LIFE) Act of 2022: Amends the current rules for qualified default investment alternatives to facilitate the use of an annuity component will expand the availability of guaranteed returns and guaranteed lifetime income that help savers secure their retirement futures. Income Security H.R. 133, Both provisions are in the larger bill. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $802,683 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 804 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 5376 - The Build Back Better Act (BBBA); provisions relating to paid family medical leave, corporate, and individual and investment taxes S. 248 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill S. 817 - Wall Street Tax Act of 2021; entire bill S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives

Client expense: $320,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. S 1870 Enhancing Emergency and Retirement Savings Act of 2021 (Benet/Lankford): This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress.

Client expense: $1,277,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 5891, Retirement Improvement and Savings Enhancement (RISE) Act - to improve and enhance retirement savings HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities S 2583 Disaster Retirement Savings Act - amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters. S 2601Strengthening Financial Security Through Short-Term Savings Accounts Act of 2021 -- allows employers to enroll employees in short-term savings accounts that are funded using automatic contributions deducted from participating employees' wages. HR 6746 Lifetime Income for Employees Act -- allows fiduciaries of pension plans to make default investment arrangements in annuity contracts HR 6782/S 3712 Auto Reenroll Act of 2022 -- allows sponsors of automatic contribution arrangements to reenroll their employees HR 5877/S 3746 Pension Risk Transfer Accountability Act of 2021 -- requires the Department of Labor to review pension risk transfer standards HR 6912 Pooled Employer Plan (PEP) Fix Act -- to require that named fiduciaries collect contributions to pooled employer plans DRAFT Emergency Savings Act of 2022 - to facilitate emergency savings options through employer provided accounts HR 7107/S 2415 Long-Term Care Affordability Act -- allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance HR 7146/S 1870 Enhancing Emergency and Retirement Savings Act of 2022 -- permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year HR 2954 Securing a Strong Retirement of 2022 -- makes various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions.

Client expense: $560,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 2954- Securing a Strong Retirement Act of 2021 (Neal) H.R. 3142- Tax Parity for US Mutual Funds Act (Davis) H.R. 5376- Build Back Better Act S. 1703- Improving Access to Retirement Savings Act (Grassley) S. 1730- Retirement Savings Lost and Found Act of 2021 (Warren) S. 1770- Retirement Security and Savings Act of 2021 (Cardin) S. 1870- Enhancing Emergency and Retirement Savings Act of 2021 (Lankford) S. 2452- Encouraging Americans to Save Act (Wyden) S. 2621- Modernization of Derivatives Tax Act (Wyden) Excise tax on corporate stock buybacks IRC section 852(b)(6) Auto-IRA/Plan Requirement Limits on large IRA balances Capital gains and dividends taxation Financial account reporting Tax deferral of retirement contributions Tax exemption for municipal bond interest

Client expense: $840,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. American Rescue Plan of 2021: Budget reconciliation legislation that included a pay-for that impacts retirement savers. Section 9709 would have implemented a cost-of-living adjustment freeze for the year 2030 and beyond. S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. S. 222, The American Opportunity Accounts Act: Establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. Group Insurance Products. The Continuing Paycheck Protection Program includes ACLIs suggested language to clarify that the loan money can be used and will be forgiven for other group insurance products including: life, disability, vision, and dental. The amendment applies to loans already made. Extension of Paid Leave Credits. Extension of credits for paid sick and family leave which extended the provisions of FFCRA until March 31, 2021 and replaced the mandate to provide paid sick leave related to the pandemic with a payroll tax subsidy to employers who provide the leave. H.R. 804 / S.248- FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave H.R 1065 / S. 1486 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R 1065 / S. 1486 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 1277 / S. 374- Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. No bill number - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. No bill number - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 2543 / S.1327 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $290,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE

H.R. 2954- Securing a Strong Retirement Act of 2021 (Neal) H.R. 3142- Tax Parity for US Mutual Funds Act (Davis) H.R. 5376- Build Back Better Act S. 1703- Improving Access to Retirement Savings Act (Grassley) S. 1730- Retirement Savings Lost and Found Act of 2021 (Warren) S. 1770- Retirement Security and Savings Act of 2021 (Cardin) S. 1870- Enhancing Emergency and Retirement Savings Act of 2021 (Lankford) S. 2452- Encouraging Americans to Save Act (Wyden) S. 2621- Modernization of Derivatives Tax Act (Wyden) Excise tax on corporate stock buybacks IRC section 852(b)(6) Auto-IRA/Plan Requirement Limits on large IRA balances Capital gains and dividends taxation Financial account reporting Tax deferral of retirement contributions Tax exemption for municipal bond interest

Client expense: $840,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE

Discussions related to SECURE 2.0 - next iteration of comprehensive retirement policy legislation. Department of Labor Fiduciary Rule, SEC Best Interest Standard. S. 1770 - The Retirement Security & Savings Act: Comprehensive retirement savings legislation. H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. H.R. 1865 Further Consolidated Appropriations Act. Coronavirus Aid, Relief, and Economic Security Act (CARES) Act Provisions on retirement including: Temporary Waiver of RMD, increase in loan amount from Employer Sponsored Plans, IRS Penalty tax free distribution from eligible retirement plans SECURE 2.0. (no bill number) Proposal would be next iteration of retirement security policy. S. 1431, Retirement Security and Savings Act of 2019. Retirement Security. S. 5064, Improving Access to Retirement Savings Act, includes provisions that were in SSRA, but not included in S. 1431. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Includes RMD relief and single employer pension plan relief. American Rescue Plan of 2021: Budget reconciliation legislation that included a pay-for that impacts retirement savers. Section 9709 would have implement a cost-of-living adjustment freeze for the year 2030 and beyond. Short-terms Savings: Proposal that would expand hardship distribution rules in order to incentivize and increase short-term savings. Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish life long savings/retirement accounts. S. 222, The American Opportunity Accounts Act: Establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. Discussions related to the following bills from the previous Congress: H.R. 3857 - Protecting Advice for Small Savers Act of 2017 addressing the DOL Fiduciary rule and establishing a best interest standard for financial advisors. H.R. 4523 - The Automatic Retirement Plan Act Issue: Retirement Security. H.R. 8990, the Lifetime Income for Employees Act. Expands QDIA regulations. HR 5891 RISE Act: Review of Pension Risk Transfer Interpretive Bulletin which requires DOL to review the current interpretive bulletin governing pension risk transfers and report to Congress on its findings Potential legislation regarding pension risk transfer

Client expense: $360,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 804 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 5376 - The Build Back Better Act (BBBA); provisions relating to paid family medical leave, corporate, and individual and investment taxes S. 248 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives

Client expense: $560,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Retirement Security, Q4 2021 1.Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. 2.S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 3.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 4.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 5.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 6.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 7.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 8.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. 9. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 10.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 11.H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. Income Security H.R. 133, Both provisions are in the larger bill. Group Insurance Products. The Continuing Paycheck Protection Program includes ACLIs suggested language to clarify that the loan money can be used and will be forgiven for other group insurance products including: life, disability, vision, and dental. The amendment applies to loans already made. Extension of Paid Leave Credits. Extension of credits for paid sick and family leave which extended the provisions of FFCRA until March 31, 2021 and replaced the mandate to provide paid sick leave related to the pandemic with a payroll tax subsidy to employers who provide the leave. H.R. 748, The CARES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $200,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Build Back Better Act (BBBA) - H.R. 5376 - retirement policy and revenue-raising provisions Infrastructure Investment and Jobs Act (IIJA) - H.R. 3684 -defined benefit pension stabilization option provision Automatic Retirement Plan Act (ARPA) Retirement Improvement and Savings Enhancement (RISE) Act - H.R. 5891 Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 ABLE Employment Flexibility ACT (AEFA) - H.R. 4672 Womens Retirement Protection Act (WRPA) - S. 2446/H.R. 4678 Encouraging Americans to Save Act (EASA_ - S. 2452/H.R. 2913 Improving Access to Retirement Savings Act - S. 1703 Retirement Savings Lost and Found Act - S. 1730 Retirement Parity for Student Loans Act - S. 1443/H.R. 2917 Financial Factors in Selecting Retirement Plan Investment Act - S. 1762 Retirement Security and Savings Act of 2021 - S. 1770 Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 Securing a Strong Retirement Act - H.R. 2954 Retirement Security Flexibility Act - S. 2602 Emergency Pension Plan Relief Act - H.R. 409 Emergency Pension Plan Relief Act - H.R. 423 Cybersecurity Environmental, Social and Governance (ESG) principals in investing ERISA Uniformity Financial wellness Mortality Tables - improvements Pension Benefit Guaranty Corporation (PBGC) premiums Tax Incentives for 401 (k) contributions Telework practices Electronic communication Regulatory DOL - sub-regulatory guidance - reduction of cybersecurity risks for retirement plan sponsors Consolidated Appropriations Act of 2021 - H.R. 133 (Public Law 116-260) - employer-sponsored retirement and other benefit plans - implementation issues American Rescue Plan Act of 2021 - H.R. 1319, (Public Law 117-2) - PBGC, IRS - IFR - new assistance program for financially troubled multiemployer plans DOL/IRS/PBGC - Form 5500 reporting requirements - proposed rules and forms revisions PBGC/IRS - Missing Participants - request for clarifying guidance on missing participant benefits DOL - best practices for missing participants IRS - final regulations - automatic postponements during Federally declared disasters DOL/EBSA- Environmental, Social and Governance (ESG) investment and proxy voting guidance, - proposed regulations, temporary non-enforcement policy DOL (EBSA) - guidance on maximum duration of relief extending certain participant and plan deadlines resulting from COVID-19 Treasury/IRS - safe harbor correction method for automatic contribution arrangements

Client expense: $326,282 · 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, White House Office

1.Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. 2.S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 3.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 4.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 5.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 6.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 7.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 8.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. 9. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. 10.S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. 11.H.R. 5891, The Retirement Improvement and Saving Enhancement (RISE) Act: Contains several retirement security provisions, also included within H.R. 2459 (SSRA). Also requires DOL, the Department of the Treasury, and the Pension Benefit Guaranty Corporation (PBGC) to review reporting and disclosure requirements for pension plans and make recommendations to Congress to consolidate, simplify, standardize, and improve such requirements. Income Security H.R. 133, Both provisions are in the larger bill. Group Insurance Products. The Continuing Paycheck Protection Program includes ACLIs suggested language to clarify that the loan money can be used and will be forgiven for other group insurance products including: life, disability, vision, and dental. The amendment applies to loans already made. Extension of Paid Leave Credits. Extension of credits for paid sick and family leave which extended the provisions of FFCRA until March 31, 2021 and replaced the mandate to provide paid sick leave related to the pandemic with a payroll tax subsidy to employers who provide the leave. H.R. 748, The CARES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 5376- Build Back Better Act this bill provides funding, establishes programs, and otherwise modifies provisions relating to a broad array of areas, including education, labor, child-care, health care, taxes, immigration, and the environment. Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $1,001,933 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Legislative Build Back Better Act (BBBA) - retirement savings provisions Infrastructure Investment and Jobs Act (IIJA) - defined benefit pension stabilization option provision Automatic Retirement Plan Act (ARPA) Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 ABLE Employment Flexibility ACT (AEFA) - H.R. 4672 Womens Retirement Protection Act (WRPA) - S. 2446/H.R. 4678 Encouraging Americans to Save Act (EASA_ - S. 2452/H.R. 2913 Improving Access to Retirement Savings Act - S. 1703 Retirement Savings Lost and Found Act - S. 1730 Retirement Parity for Student Loans Act - S. 1443/H.R. 2917 Financial Factors in Selecting Retirement Plan Investment Act - S. 1762 Retirement Security and Savings Act of 2021 - S. 1770 Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 Securing a Strong Retirement Act - H.R. 2954 Retirement Security Flexibility Act - S. 2602 Emergency Pension Plan Relief Act - H.R. 409 Emergency Pension Plan Relief Act - H.R. 423 Cybersecurity Environmental, Social and Governance (ESG) principals in investing ERISA Uniformity Financial wellness Mortality Tables - improvements Pension Benefit Guaranty Corporation (PBGC) premiums Tax Incentives for 401 (k) contributions Telework practices Extension of spousal consent to defined contribution plans Regulatory DOL - sub-regulatory guidance - reduction of cybersecurity risks for retirement plan sponsors Consolidated Appropriations Act of 2021 - H.R. 133 (Public Law 116-260) - employer-sponsored retirement and other benefit plans - implementation issues American Rescue Plan Act of 2021 - H.R. 1319, (Public Law 117-2) - PBGC, IRS - IFR - new assistance program for financially troubled multiemployer plans DOL/IRS/PBGC - Form 5500 reporting requirements - proposed rules and forms revisions PBGC/IRS - Missing Participants - request for clarifying guidance on missing participant benefits DOL - best practices for missing participants IRS - final regulations - automatic postponements during Federally declared disasters DOL - Environmental, Social and Governance (ESG) investment and proxy voting guidance, temporary non-enforcement policy DOL (EBSA) - guidance on maximum duration of relief extending certain participant and plan deadlines resulting from COVID-19 Treasury/IRS - safe harbor correction method for automatic contribution arrangements IRS -Employee Plans Compliance Resolution System (EPCRS) - updated IRS - mandatory 60-day postponement of certain tax-related deadlines Treasury/IRS - Notice 2021-48 - guidance on single-employer pension plan relief included in the American Rescue Plan Act of 2021 (ARPA) DOL/Treasury/IRS - Pooled Employer Plans (PEPs) and Multiple Employer Plans (MEPs) - comments on registration requirements, service crediting guidance and other issues DOL (EBSA) - investment advice guidance and related prohibited transaction exemptions Treasury/IRS - Remote notarization DOL - Interim Final Rule on Lifetime Income Illustration Requirements - temporary frequently asked questions (FAQs) - timing clarification DOL - redefinition of fiduciary DOL -de-risking of defined benefit pension plans Emergency savings Executive compensation ERISA Uniformity EEOC - workplace diversity data deadline (EEO-1) Component 1 data) Mortality Tables - improvements Multiemployer pension plan issues Paid leave proposals and issues State retirement plan initiatives Student loan repayment benefit PBGC/IRS - withholding issue for terminating plans IRS Tax Forms W4-P and W4-R (suggesting changes)

Client expense: $397,192 · 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), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. S 1870 Enhancing Emergency and Retirement Savings Act of 2021 (Benet/Lankford): This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress.

Client expense: $524,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2954 Securing a Strong Retirement Act of 2021 -- To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1870Enhancing Emergency and Retirement Savings Act of 2021 -- permits penalty-free distributions from tax-exempt retirement plans for emergency personal expenses. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans S 2415Long-Term Care Affordability Act - allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance S 2583To amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters - allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602Retirement Security Flexibility Act of 2021 - auto enrollment safe harbor S 2602,Retirement Security Flexibility Act of 2021 - modifies the nondiscrimination requirements that apply to certain employer-sponsored 401(k) retirement plans that include automatic contribution arrangements HR 2265, Financial Exploitation Prevention Act - allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation HR 5723, Social Security 2100 Act: A Sacred Trust - protect our Social Security system and improve benefits for current and future generations HR 5891, Retirement Improvement and Savings Enhancement (RISE) Act - to improve and enhance retirement savings HR 4865/S 3198, Registration for Index Linked Annuities (RILA) Act - direct SEC to revise any rules necessary to enable issuers of index-linked annuities to register on a form tailored specifically to registered index-linked annuities HR 5877, Pension Risk Transfer Accountability Act - require the Secretary of Labor to review certain provisions of the Code of Federal Regulations related to fiduciary standards under ERISA

Client expense: $720,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), 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)

Discussions related to SECURE 2.0 - next iteration of comprehensive retirement policy legislation. Department of Labor Fiduciary Rule, SEC Best Interest Standard. S. 1770 - The Retirement Security & Savings Act: Comprehensive retirement savings legislation. H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. H.R. 1865 Further Consolidated Appropriations Act. Coronavirus Aid, Relief, and Economic Security Act (CARES) Act Provisions on retirement including: Temporary Waiver of RMD, increase in loan amount from Employer Sponsored Plans, IRS Penalty tax free distribution from eligible retirement plans SECURE 2.0. (no bill number) Proposal would be next iteration of retirement security policy. S. 1431, Retirement Security and Savings Act of 2019. Retirement Security. S. 5064, Improving Access to Retirement Savings Act, includes provisions that were in SSRA, but not included in S. 1431. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Includes RMD relief and single employer pension plan relief. American Rescue Plan of 2021: Budget reconciliation legislation that included a pay-for that impacts retirement savers. Section 9709 would have implement a cost-of-living adjustment freeze for the year 2030 and beyond. Short-terms Savings: Proposal that would expand hardship distribution rules in order to incentivize and increase short-term savings. Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish life long savings/retirement accounts. S. 222, The American Opportunity Accounts Act: Establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. Discussions related to the following bills from the previous Congress: H.R. 3857 - Protecting Advice for Small Savers Act of 2017 addressing the DOL Fiduciary rule and establishing a best interest standard for financial advisors. H.R. 4523 - The Automatic Retirement Plan Act Issue: Retirement Security. H.R. 8990, the Lifetime Income for Employees Act. Expands QDIA regulations.

Client expense: $390,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 328 - Wall Street Tax Act of 2021; entire bill H.R. 804 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill H.R. 1584 - Protect Retirement Savers and Everyday Investors Act; entire bill H.R. 5376 - The Build Back Better Act (BBBA); provisions relating to paid family medical leave, corporate, and individual and investment taxes S. 248 - Family and Medical Insurance Leave Act (FAMILY) Act; entire bill S. 2452 - Encouraging Americans to Save Act; entire bill S. 2621 - Modernization of Derivatives Tax Act (MODA) of 2021; provisions relating to ordinary treatment of derivatives

Client expense: $220,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 328- Wall Street Tax Act of 2021 (DeFazio) H.R. 2954- Securing a Strong Retirement Act of 2021 (Neal) H.R. 3142- Tax Parity for US Mutual Funds Act (Davis) H.R. 5334- PRIA Act of 2021 (Himes) S. 817- Wall Street Tax Act of 2021 (Schatz) S. 1703- Improving Access to Retirement Savings Act (Grassley) S. 1730- Retirement Savings Lost and Found Act of 2021 (Warren) S. 1770- Retirement Security and Savings Act of 2021 (Cardin) S. 1870- Enhancing Emergency and Retirement Savings Act of 2021 (Lankford) S. 2387- Small Business Tax Fairness Act (Wyden) S. 2452- Encouraging Americans to Save Act (Wyden) S. 2621- Modernization of Derivatives Tax Act (Wyden) S. 2758- Stock Buyback Accountability Act of 2021 (Brown) S. 2870- PRIA Act of 2021 (Warner) Build Back Better Act IRC section 852(b)(6) Auto-IRA/Plan Requirement Limits on large IRA balances Capital gains and dividends taxation Financial account reporting Remote notarization for retirement plans Tax deferral of retirement contributions Tax exemption for municipal bond interest Reinstate advance refunding bonds Certifications of US Tax Residency

Client expense: $1,720,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Legislative Build Back Better Act (BBBA) - retirement savings provisions Infrastructure Investment and Jobs Act (IIJA) - defined benefit pension stabilization option provision Automatic Retirement Plan Act (ARPA) Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 ABLE Employment Flexibility ACT (AEFA) - H.R. 4672 Womens Retirement Protection Act (WRPA) - S. 2446/H.R. 4678 Encouraging Americans to Save Act (EASA_ - S. 2452/H.R. 2913 Improving Access to Retirement Savings Act - S. 1703 Retirement Savings Lost and Found Act - S. 1730 Retirement Parity for Student Loans Act - S. 1443/H.R. 2917 Financial Factors in Selecting Retirement Plan Investment Act - S. 1762 Retirement Security and Savings Act of 2021 - S. 1770 Enhancing Emergency and Retirement Savings Act of 2021 - S. 1870 Securing a Strong Retirement Act - H.R. 2954 Retirement Security Flexibility Act - S. 2602 Emergency Pension Plan Relief Act - H.R. 409 Emergency Pension Plan Relief Act - H.R. 423 Cybersecurity Environmental, Social and Governance (ESG) principals in investing ERISA Uniformity Financial wellness Mortality Tables - improvements Pension Benefit Guaranty Corporation (PBGC) premiums Tax Incentives for 401 (k) contributions Telework practices Extension of spousal consent to defined contribution plans Regulatory DOL - sub-regulatory guidance - reduction of cybersecurity risks for retirement plan sponsors Consolidated Appropriations Act of 2021 - H.R. 133 (Public Law 116-260) - employer-sponsored retirement and other benefit plans - implementation issues American Rescue Plan Act of 2021 - H.R. 1319, (Public Law 117-2) - PBGC, IRS - IFR - new assistance program for financially troubled multiemployer plans DOL/IRS/PBGC - Form 5500 reporting requirements - proposed rules and forms revisions PBGC/IRS - Missing Participants - request for clarifying guidance on missing participant benefits DOL - best practices for missing participants IRS - final regulations - automatic postponements during Federally declared disasters DOL - Environmental, Social and Governance (ESG) investment and proxy voting guidance, temporary non-enforcement policy DOL (EBSA) - guidance on maximum duration of relief extending certain participant and plan deadlines resulting from COVID-19 Treasury/IRS - safe harbor correction method for automatic contribution arrangements IRS -Employee Plans Compliance Resolution System (EPCRS) - updated IRS - mandatory 60-day postponement of certain tax-related deadlines Treasury/IRS - Notice 2021-48 - guidance on single-employer pension plan relief included in the American Rescue Plan Act of 2021 (ARPA) DOL/Treasury/IRS - Pooled Employer Plans (PEPs) and Multiple Employer Plans (MEPs) - comments on registration requirements, service crediting guidance and other issues DOL (EBSA) - investment advice guidance and related prohibited transaction exemptions Treasury/IRS - Remote notarization DOL - Interim Final Rule on Lifetime Income Illustration Requirements - temporary frequently asked questions (FAQs) - timing clarification DOL - redefinition of fiduciary DOL -de-risking of defined benefit pension plans Emergency savings Executive compensation ERISA Uniformity EEOC - workplace diversity data deadline (EEO-1) Component 1 data) Mortality Tables - improvements Multiemployer pension plan issues Paid leave proposals and issues State retirement plan initiatives Student loan repayment benefit PBGC/IRS - withholding issue for terminating plans IRS Tax Forms W4-P and W4-R (suggesting changes)

Client expense: $397,192 · 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), Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. American Rescue Plan of 2021: Budget reconciliation legislation that included a pay-for that impacts retirement savers. Section 9709 would have implemented a cost-of-living adjustment freeze for the year 2030 and beyond. S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. S. 222, The American Opportunity Accounts Act: Establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provisions. Group Insurance Products. The Continuing Paycheck Protection Program includes ACLIs suggested language to clarify that the loan money can be used and will be forgiven for other group insurance products including: life, disability, vision, and dental. The amendment applies to loans already made. Extension of Paid Leave Credits. Extension of credits for paid sick and family leave which extended the provisions of FFCRA until March 31, 2021 and replaced the mandate to provide paid sick leave related to the pandemic with a payroll tax subsidy to employers who provide the leave. H.R. 804 / S.248- FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave H.R 1065 / S. 1486 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R 1065 / S. 1486 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). H.R. 1277 / S. 374- Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. No bill number - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. No bill number - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 2543 / S.1327 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $290,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

1.Build Back Better Act (Budget Reconciliation): Automatic Retirement Plan inclusion that would mandate retirement plans in the workplace for employers with 5 or more employees. 2.American Rescue Plan of 2021: Budget reconciliation legislation that included a pay-for that impacts retirement savers. Section 9709 would have implemented a cost-of-living adjustment freeze for the year 2030 and beyond. 3.S. 1870, the Enhancing Emergency and Retirement Savings Act of 2021: The legislation would provide a penalty-free emergency distribution option from employer-sponsored retirement accounts and IRAs. 4.Portable Retirement and Investment Account Act (PRIA): Creates retirement accounts at birth to help establish lifelong savings/retirement accounts. 5.S. 222, The American Opportunity Accounts Act: Establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. 6.H.R. 2954, Securing a Strong Retirement Act (SECURE 2.0) / Retirement Security and Savings Act: Comprehensive retirement savings legislation. 7.S. 1272, The SIMPLE Plan Modernization Act: The bill would raise the contribution limit for SIMPLE plans from $13,500 to $16,500 with a corresponding increase in the catch-up limit from $3,000 to $4,750. 8.S. 1770, The Retirement Security & Savings Act: Comprehensive retirement savings legislation. 9.S. 1703, The Improving Access to Retirement Savings Act of 2021: The bill would expand Open Multiple Employer Plans to include 403(b) accounts, create a safe harbor for correcting employee deferrals and make clarifications for small businesses who wish to utilize a credit to offer a retirement plan to their employees. 10.S. 1443, The Retirement Parity for Student Loans Act: Allows employers to make matching contributions to a 401(k) retirement plan while their employees make student loan repayments. 11. S. 975 / H.R. 2005, the Womens Retirement Security Act of 2021: Addresses the retirement gap and bolsters womens financial security through amending ERISA and increasing financial literacy. S. 2452, the Encouraging Americans to Save Act: Reforms the savers credit, makes the credit refundable, establishes an R-bond program, and amends the deadline to fund an IRA with a tax refund, among other provision H.R. 133, Both provisions are in the larger bill. Group Insurance Products. The Continuing Paycheck Protection Program includes ACLIs suggested language to clarify that the loan money can be used and will be forgiven for other group insurance products including: life, disability, vision, and dental. The amendment applies to loans already made. Extension of Paid Leave Credits. Extension of credits for paid sick and family leave which extended the provisions of FFCRA until March 31, 2021 and replaced the mandate to provide paid sick leave related to the pandemic with a payroll tax subsidy to employers who provide the leave. H.R. 748, The CARES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Issue Paycheck protection program and paid family medical leave. H.R.1185 - FAMILY Act. Issue: paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member. H.R.1940 - New Parents Act of 2019. Issue: paid family and medical leave H.R.2163 - To amend the Internal Revenue Code of 1986 to allow for tax-advantaged distributions from health savings accounts during family or medical leave, and for other purposes. Issue: paid family and medical leave S.463 - FAMILY Act. Issue: paid family and medical leave- paid family and medical leave proposal would offer paid leave benefits via a payroll tax for birth or adoption of a child or caring for a sick family member S.920 - New Parents Act of 2019. Issue: paid family and medical leave Discussion draft - CRADLE Act. Issue: paid family and medical leave - allows for a deferment of retirement benefits for paid leave benefits. Proposed FY 2020 Budget proposal on paid family and medical leave. Issue: paid family and medical leave H.R. 2694 - Pregnant Workers Fairness Act. Issue: paid family and medical leave. Concurrent Resolution on the Budget, FY2022, S.Con.Res.14. The budget resolution calls for the $3.5 trillion in long-term investments to be fully offset by a combination of new tax revenues, health care savings, and long-term economic growth. In addition, the agreement would prohibit new taxes on families making less than $400,000 per year, and on small businesses and family farms. Issue: Medicare/Dental (Expanding Medicare to include dental, vision, hearing benefits and lowering the eligibility age). Diversity and Inclusion H.R. 5084 - Improving Corporate Governance Through Diversity Act. Issue: diversity and inclusion. H.R. 5360 - Closing the Racial Wealth Gap Act. Issue: diversity and inclusion. H.R. 281 - Ensuring Diverse Leadership Act. Issue: diversity and inclusion. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Issue: diversity and inclusion.

Client expense: $1,043,261 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 5376 Build Back Better Act. S. 1770/H.R. 2954, SECURE Act. S. 1295/H.R. 2575, the TRUST Act of 2021. H.R. 4143/S. 2204, the Know Your Social Security Act. No bill number. Discussed retirement plan portability. No bill number - Written statement for hearing entitled Policy Options for Improving SSI (Supplemental Security Income). H.R. 3914, Social Security Benefits Payment Choice Act of 2021. H.R. 4851, the Protecting Our Widows and Widowers in Retirement (POWR) Act. S. 2065/H.R. 3834, the Supplemental Security Income Restoration Act. No bill number - Discussed the reduction in unemployment benefits due to the receipt of Social Security benefits. No bill number - Discussed the Social Security earnings limit. No bill number/reconciliation? - Discussed the Social Security Administration administering and/or funding a federal paid leave program. No bill number. Discussed the 2021 Social Security Trustees report and the long-term financial security of the program. No bill number. Discussed the ocial Security cost-of-living adjustment. No bill number. Testified during hearing: Building on Bipartisan Retirement Legislation: How Can Congress Help. No bill number. Discussed retirement plan disclosures and notices. No bill number. Discussed private-sector retirement reform legislation, including establishment of a national automatic retirement system. No bill number. Discussed state-facilitated retirement savings programs for private-sector workers. No bill number. Discussed part-time worker, independent contractor, contingent worker, personal/individual and portable retirement plan issues. No bill number. Discussed fiduciary responsibility issues. No bill number. Discussed student loan and retirement saving issues. No bill number. Discussed retirement plan data collection, retention, dissemination and cybersecurity issues. No bill number. Discussed small employer and pooled retirement plan issues. No bill number. Discussed small retirement account cash-out issues. No bill number. Discussed Individual Retirement Account (IRA) and Required Minimum Distribution (RMD). No bill number. Discussed options to improve spend down of retirement savings after retirement. No bill number. Discussed Savers Tax Credit. No bill number. Discussed women and retirement security. S. 2446/H.R. 4678, the Womens Retirement Protection Act. S. 2452, Encouraging Americans to Save Act. H.R. 4502, Labor, Health & Human Services Appropriations Act, FY 2022. No bill number. Discussed auto-IRA. No bill number. Discussed Savers Credit.

Client expense: $2,980,000 · Firm income: Not reported

Government targets: Administration for Children & Families (ACF), Agriculture, Dept of (USDA), Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Consumer Financial Protection Bureau (CFPB), Corporation for Natl & Community Service, Defense, Dept of (DOD), Food & Drug Administration (FDA), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Health Resources & Services Administration (HRSA), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Institutes of Health (NIH), Office of Management & Budget (OMB), Office of Personnel Management (OPM), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), Transportation, Dept of (DOT), Treasury, Dept of, Veterans Affairs, Dept of (VA), White House Office

HR2954 Securing a Strong Retirement Act of 2021 To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. S1770 Retirement Security and Savings Act of 2021 To amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. S1870 The Enhancing Emergency and Retirement Savings Act of 2021 The bill is designed to allow DC participants and IRA savers to take limited, penalty-free withdrawals from their DC plans or IRAs, under the premise of assisting with emergency expenses. S 1870 Enhancing Emergency and Retirement Savings Act of 2021 (Benet/Lankford): This permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period. S 2583 A bill to amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters (Cassidy/Menendez): This bill allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster (i.e., a qualified disaster recovery distribution). The bill defines qualified disaster recovery distribution as any distribution within a 180 day period after a disaster declaration that is made to an individual whose principal residence is located in a qualified disaster area (an area for which a major disaster has been declared) and who has sustained an economic loss due to the disaster. The bill sets forth rules for the recontribution of withdrawals from a plan for first-time home purchases or for purchases or construction of a principal residence in a disaster area, and increases the limit on loans from a qualified employer plan that an individual may take in lieu of a distribution. HR 2741 Public Service Retirement Fairness Act. A bill to generally permit 403(b) plans to invest in collective investment trusts (CIT) S 2452 Wyden SAVERS Credit: This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced 50% tax credit, up to $2,000, for deductible retirement savings contributions and for IRA contributions. The bill also directs the Internal Revenue Service (IRS) to establish the R-Bond Program as a permanent program for the establishment and maintenance of individual retirement plans and directs the IRS to educate taxpayers on the benefits of the savings programs provided by this bill. S 2446 Spousal Consent: A summary is in progress.

Client expense: $487,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

ISSUE Investment Advice Standard of Conduct HR 699, Mutual Fund Litigation Reform Act - amend the Investment Company Act of 1940 to provide complaint and burden of proof requirements for certain actions for breach of fiduciary duty HR 725/S 153, Personalized Care Act - amend the Internal Revenue Code of 1986 to expand and improve health savings accounts, and for other purposes. HR 984, Retirement Inflation Protection Act - allows the basis of certain assets to be adjusted for inflation solely for the purpose of determining the gain or loss. S 380, Health Savings Act - modifies the requirements for health savings accounts (HSAs). HR 1584, Protecting Retirement Savers and Everyday Investors Act - impose a limitation on taxation and fees on transactions by certain securities industry participants. HR 1618/S 606, RESPOND Act - require the FRB and SEC to issue an annual report on the economic costs caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change. S 1443Retirement Parity for Student Loans Act -- allows certain employer-sponsored retirement plans to make matching contributions for an employee's student loan payments HR 2951 To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds - enables ETFs as investment option in variable insurance products HR 2954 Securing a Strong Retirement Act of 2021 -- To increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. HR 2944 Reducing the Maximum Service Requirement for Long-term Part-time Workers to Make Elective Deferrals to 401(k) Plans Act -- to reduce the retirement plan period of service requirements for long-term, part-time employees. S 1703Improving Access to Retirement Savings Act of 2021 -- to increase retirement savings, to improve retirement plan administration, and for other purposes. S 1770Retirement Security & Savings Act -- to increase retirement savings, to improve retirement plan administration, and for other purposes. HR 3387/S 1762 Financial Factors in Selecting Retirement Plan Investment Act -- to permit retirement plans to consider certain factors in investment decisions. S 1870Enhancing Emergency and Retirement Savings Act of 2021 -- permits penalty-free distributions from tax-exempt retirement plans for emergency personal expenses. S 1272SIMPLE Plan Modernization Act -- increases the contribution limits for certain SIMPLE IRAs and modifies the requirements for replacing SIMPLE IRAs with 401(k) plans. HR 2741 Public Service Retirement Fairness Act -- To modify rules relating to 403(b) plans. HR 4262 Increasing Investor Opportunities Act - To amend the Investment Company Act of 1940 to prohibit limitations on closed-end companies investing in private funds S 2206Young American Savers Act of 2021 - directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program HR 4289 Well-Being Insurance for Seniors to be at Home (WISH) Act - to provide for long-term care insurance benefits HR 2913/S 2452 Encouraging Americans to Save Act - to provide matching payments for retirement savings and establish MyRA HR 4678/S 2446 Womens Retirement Protection Act of 2021 - to provide for greater spousal protection under defined contribution plans S 2415Long-Term Care Affordability Act - allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance S 2583To amend the Internal Revenue Code of 1986 to provide for rules for the use of retirement funds in connection with federally declared disasters - allows penalty-free distributions from tax-exempt retirement plans for a federally declared disaster HR 5334/S 2870 Portable Retirement and Investment Account (PRIA) Act of 2021 - to establish portable retirement accounts S 2602Retirement Security Flexibility Act of 2021 - auto enrollment safe harbor

Client expense: $640,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), 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)