Key Legislative Issues

Retirement Savings Plan

SECURE Act Passed by the House; Faces Uncertain Future in the Senate

September 10, 2019

On May 23, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, was passed by the House of Representatives in a near-unanimous, bipartisan vote of 417-3. The SECURE Act represents the first major piece of retirement legislation to be approved by the House since 2006.

Retirement Legislation to Assist with Student Loans

July 2, 2019

On May 13, 2019, Senators Ron Wyden (D-OR), Maria Cantwell (D-WA), Ben Cardin (D-MD), Sheldon Whitehouse (D-RI), Maggie Hassan (D-NH), and Sherrod Brown (D-OH) re-introduced the Retirement Parity for Student Loans Act.

House Passes SECURE Act by 417-3 Vote, Senate Reintroduces RESA

May 30, 2019

The House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act by a 417-3 vote on May 23, 2019. Senate Finance Committee Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden (D-OR) reintroduced the Retirement Enhancement and Savings Act (RESA) of 2019 on April 1, 2019. The overwhelming majority of provisions in both bills are identical (or very similar).

Retirement Champions Reengage on Next Retirement Bill

May 30, 2019

On May 14, 2019, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced the Retirement Security and Savings Act, which includes more than 50 discrete retirement proposals.

Retirement Legislation Watch

April 9, 2019

In December 2018, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced the bi-partisan Retirement Security and Savings Act. With the seating of a new (116th) Congress in January, this bill would need to be re-introduced to be further considered by Congress.

Retirement Related Provisions of Tax Reform 2.0 Released

October 1, 2018

On Sept. 13, 2018, the House Ways and Means Committee voted along party lines to move forward three pieces of proposed legislation as part of "Tax Reform 2.0," which Ways and Means Chairman Kevin Brady (R-Texas) views as the sequel to last year's Tax Cuts and Jobs Act.

President Trump Issues Executive Order on Retirement-Related Matters

October 1, 2018

On Aug. 31, 2018, President Trump signed an executive order (EO) that directs the U.S. Department of Labor (DOL) and U.S. Department of the Treasury (Treasury) to work on a number of new retirement-related regulatory matters.

ICMA-RC Review of Tax Reform Legislation's Potential Impact on Public Sector Retirement Plans as of December 22, 2017

December 22, 2017

President Trump signed tax reform legislation (H.R.1) into law on December 22, 2017, making the most substantial amendments to U.S. federal tax law since 1986. H.R.1 generally reduces individual and corporate income tax rates and makes substantial changes to many deductions, credits, and other provisions of the tax code.

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