SCHOOL EMPLOYEES RETIREMENT SYSTEM OF OHIO

Continued advocacy on the impact to Employer Group Waiver Plans (EGWPs) with respect to S. 2543, the Prescription Drug Pricing Reduction Act of 2019, from last session, and H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act of 2021, which does not include a fix for Employer Group Waiver Plans (EGWPs). Continued education on the impact of changes to Medicare Part D restructuring for EGWP plans with House and Senate members, the pending Rebate Rule which has been stayed by the Biden Administration and its consequences to plan sponsors.

Client expense: — · Firm income: $6,667

Matched citations: H.R. 3

Followed two bills: Rep. Patrick McHenry (R-NC) introduced H.Res.249, a Resolution which is Expressing the sense of the House of Representatives that the Congress should not impose a financial transaction tax on individuals or market intermediaries in connection with trades executed on the National Market System or alternative trading systems. The Resolution was introduced on March 17 and was referred to the Committee on Ways and Means. H.R. 328, the Wall Street Tax Act, would create a financial transaction tax on the sale of stocks, bonds, and derivatives at 0.1 percent (10 basis points), which could raise approximately $777 billion over ten (10) years. Followed a joint resolution: Senator Sherrod Brown (D-OH) introduced S.J.Res.16, a joint resolution providing for disapproval under chapter 8 of title 5, United States Code, of the rule finalized by the Securities and Exchange Commission (SEC). The joint resolution, filed under the Congressional Review Act (CRA), would reverse the SECs final rule in September 2020 relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8."

Client expense: — · Firm income: $6,667

Matched citations: H.R. 328

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $6,667

Matched citations: H.R. 82

Followed two bills: Rep. Patrick McHenry (R-NC) introduced H.Res.249, a Resolution which is Expressing the sense of the House of Representatives that the Congress should not impose a financial transaction tax on individuals or market intermediaries in connection with trades executed on the National Market System or alternative trading systems. The Resolution was introduced on March 17 and was referred to the Committee on Ways and Means. H.R. 328, the Wall Street Tax Act, would create a financial transaction tax on the sale of stocks, bonds, and derivatives at 0.1 percent (10 basis points), which could raise approximately $777 billion over ten (10) years. Followed a joint resolution: Senator Sherrod Brown (D-OH) introduced S.J.Res.16, a joint resolution providing for disapproval under chapter 8 of title 5, United States Code, of the rule finalized by the Securities and Exchange Commission (SEC). The joint resolution, filed under the Congressional Review Act (CRA), would reverse the SECs final rule in September 2020 relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8."

Client expense: — · Firm income: $6,667

Matched citations: H.Res.249

Continued advocacy on the impact to Employer Group Waiver Plans (EGWPs) with respect to S. 2543, the Prescription Drug Pricing Reduction Act of 2019, from last session, and H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act of 2021, which does not include a fix for Employer Group Waiver Plans (EGWPs). Continued education on the impact of changes to Medicare Part D restructuring for EGWP plans with House and Senate members, the pending Rebate Rule which has been stayed by the Biden Administration and its consequences to plan sponsors.

Client expense: — · Firm income: $6,667

Matched citations: S. 2543

SERS and other organizations have sought the repeal of the Rebate Rule, promulgated by the previous administration. SERS has requested that HHS/Medicare work with the Biden administration on the Medicare Part D restructuring proposals to address the issues for Employer Group Waiver Plans (EGWPs). We have discussed the potential for legislative and/or regulatory actions for consideration for the under-65 retiree population and to address the high cost of prescription drug costs. Senator Sherrod Brown (D-OH), along with Senators Tammy Baldwin (D-WI) and Debbie Stabenow (D-MI) introduced the Medicare at 50 Act, S. 1279, on April 21, which we are following. H.R. 1868, which extended a suspension of Medicare sequestration and make other technical changes to Medicare payments and Medicaid eligibility, was signed by President Biden. The bill also took care of the pay-go provisions which would have applied to the American Rescue Plan. H.R. 19, the Lower Costs, More Cures Act was reintroduced on April 21. Reps. Brad Wenstrup (R-OH) and Bob Latta (R-OH) are the two Ohio co-sponsors. SERS is following this bill in the House and the Senate companion bill, which was introduced.

Client expense: — · Firm income: $6,667

Matched citations: S. 1279

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $6,667

Matched citations: S. 1302

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $6,667

Matched citations: S. 1770

Followed two bills: Rep. Patrick McHenry (R-NC) introduced H.Res.249, a Resolution which is Expressing the sense of the House of Representatives that the Congress should not impose a financial transaction tax on individuals or market intermediaries in connection with trades executed on the National Market System or alternative trading systems. The Resolution was introduced on March 17 and was referred to the Committee on Ways and Means. H.R. 328, the Wall Street Tax Act, would create a financial transaction tax on the sale of stocks, bonds, and derivatives at 0.1 percent (10 basis points), which could raise approximately $777 billion over ten (10) years. Followed a joint resolution: Senator Sherrod Brown (D-OH) introduced S.J.Res.16, a joint resolution providing for disapproval under chapter 8 of title 5, United States Code, of the rule finalized by the Securities and Exchange Commission (SEC). The joint resolution, filed under the Congressional Review Act (CRA), would reverse the SECs final rule in September 2020 relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8."

Client expense: — · Firm income: $6,667

Matched citations: S.J.Res.16

SERS and other organizations have sought the repeal of the Rebate Rule, promulgated by the previous administration. SERS has requested that HHS/Medicare work with the Biden administration on the Medicare Part D restructuring proposals to address the issues for Employer Group Waiver Plans (EGWPs). We have discussed the potential for legislative and/or regulatory actions for consideration for the under-65 retiree population and to address the high cost of prescription drug costs. Senator Sherrod Brown (D-OH), along with Senators Tammy Baldwin (D-WI) and Debbie Stabenow (D-MI) introduced the Medicare at 50 Act, S. 1279, on April 21, which we are following. H.R. 1868, which extended a suspension of Medicare sequestration and make other technical changes to Medicare payments and Medicaid eligibility, was signed by President Biden. The bill also took care of the pay-go provisions which would have applied to the American Rescue Plan. H.R. 19, the Lower Costs, More Cures Act was reintroduced on April 21. Reps. Brad Wenstrup (R-OH) and Bob Latta (R-OH) are the two Ohio co-sponsors. SERS is following this bill in the House and the Senate companion bill, which was introduced.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 1868

SERS and other organizations have sought the repeal of the Rebate Rule, promulgated by the previous administration. SERS has requested that HHS/Medicare work with the Biden administration on the Medicare Part D restructuring proposals to address the issues for Employer Group Waiver Plans (EGWPs). We have discussed the potential for legislative and/or regulatory actions for consideration for the under-65 retiree population and to address the high cost of prescription drug costs. Senator Sherrod Brown (D-OH), along with Senators Tammy Baldwin (D-WI) and Debbie Stabenow (D-MI) introduced the Medicare at 50 Act, S. 1279, on April 21, which we are following. H.R. 1868, which extended a suspension of Medicare sequestration and make other technical changes to Medicare payments and Medicaid eligibility, was signed by President Biden. The bill also took care of the pay-go provisions which would have applied to the American Rescue Plan. H.R. 19, the Lower Costs, More Cures Act was reintroduced on April 21. Reps. Brad Wenstrup (R-OH) and Bob Latta (R-OH) are the two Ohio co-sponsors. SERS is following this bill in the House and the Senate companion bill, which was introduced.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 19

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 2337

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 2954

Continued advocacy on the impact to Employer Group Waiver Plans (EGWPs) with respect to S. 2543, the Prescription Drug Pricing Reduction Act of 2019, from last session, and H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act of 2021, which does not include a fix for Employer Group Waiver Plans (EGWPs). Continued education on the impact of changes to Medicare Part D restructuring for EGWP plans with House and Senate members, the pending Rebate Rule which has been stayed by the Biden Administration and its consequences to plan sponsors.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 3

Followed two bills: Rep. Patrick McHenry (R-NC) introduced H.Res.249, a Resolution which is Expressing the sense of the House of Representatives that the Congress should not impose a financial transaction tax on individuals or market intermediaries in connection with trades executed on the National Market System or alternative trading systems. The Resolution was introduced on March 17 and was referred to the Committee on Ways and Means. H.R. 328, the Wall Street Tax Act, would create a financial transaction tax on the sale of stocks, bonds, and derivatives at 0.1 percent (10 basis points), which could raise approximately $777 billion over ten (10) years. Followed a joint resolution: Senator Sherrod Brown (D-OH) introduced S.J.Res.16, a joint resolution providing for disapproval under chapter 8 of title 5, United States Code, of the rule finalized by the Securities and Exchange Commission (SEC). The joint resolution, filed under the Congressional Review Act (CRA), would reverse the SECs final rule in September 2020 relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8."

Client expense: — · Firm income: $9,999

Matched citations: H.R. 328

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $9,999

Matched citations: H.R. 82

Followed two bills: Rep. Patrick McHenry (R-NC) introduced H.Res.249, a Resolution which is Expressing the sense of the House of Representatives that the Congress should not impose a financial transaction tax on individuals or market intermediaries in connection with trades executed on the National Market System or alternative trading systems. The Resolution was introduced on March 17 and was referred to the Committee on Ways and Means. H.R. 328, the Wall Street Tax Act, would create a financial transaction tax on the sale of stocks, bonds, and derivatives at 0.1 percent (10 basis points), which could raise approximately $777 billion over ten (10) years. Followed a joint resolution: Senator Sherrod Brown (D-OH) introduced S.J.Res.16, a joint resolution providing for disapproval under chapter 8 of title 5, United States Code, of the rule finalized by the Securities and Exchange Commission (SEC). The joint resolution, filed under the Congressional Review Act (CRA), would reverse the SECs final rule in September 2020 relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8."

Client expense: — · Firm income: $9,999

Matched citations: H.Res.249

Continued advocacy on the impact to Employer Group Waiver Plans (EGWPs) with respect to S. 2543, the Prescription Drug Pricing Reduction Act of 2019, from last session, and H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act of 2021, which does not include a fix for Employer Group Waiver Plans (EGWPs). Continued education on the impact of changes to Medicare Part D restructuring for EGWP plans with House and Senate members, the pending Rebate Rule which has been stayed by the Biden Administration and its consequences to plan sponsors.

Client expense: — · Firm income: $9,999

Matched citations: S. 2543

SERS and other organizations have sought the repeal of the Rebate Rule, promulgated by the previous administration. SERS has requested that HHS/Medicare work with the Biden administration on the Medicare Part D restructuring proposals to address the issues for Employer Group Waiver Plans (EGWPs). We have discussed the potential for legislative and/or regulatory actions for consideration for the under-65 retiree population and to address the high cost of prescription drug costs. Senator Sherrod Brown (D-OH), along with Senators Tammy Baldwin (D-WI) and Debbie Stabenow (D-MI) introduced the Medicare at 50 Act, S. 1279, on April 21, which we are following. H.R. 1868, which extended a suspension of Medicare sequestration and make other technical changes to Medicare payments and Medicaid eligibility, was signed by President Biden. The bill also took care of the pay-go provisions which would have applied to the American Rescue Plan. H.R. 19, the Lower Costs, More Cures Act was reintroduced on April 21. Reps. Brad Wenstrup (R-OH) and Bob Latta (R-OH) are the two Ohio co-sponsors. SERS is following this bill in the House and the Senate companion bill, which was introduced.

Client expense: — · Firm income: $9,999

Matched citations: S. 1279

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $9,999

Matched citations: S. 1302

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

Client expense: — · Firm income: $9,999

Matched citations: S. 1770