Current Events

Repeal of Affordable Care Act: effect on retirement savings

March 12, 2017

One of the more controversial elements of the proposal to “repeal and replace” the Affordable Care Act (ACA), introduced by House Republicans March 6, 2017, is the repeal of the ACA 3.8% Medicare Net Investment Income (NII) tax. In this article we briefly discuss how that change, if enacted, would, for certain high-earners, reduce the relative value of saving in a 401(k) plan vs. saving outside the plan. Read More

Lump sum de-risking in 2017

March 13, 2017

In this article we discuss how changes in interest rates, Pension Benefit Guaranty Corporation premiums and mortality tables may affect sponsor decisions to de-risk (or not de-risk) defined benefit plan liabilities in 2017. For purposes of this article, by de-risking we mean paying out a participant’s benefit as a lump sum and thereby eliminating the related liability – the ‘low-hanging fruit’ for pension de-risking efforts. Read More

DOL publishes proposed delay in Conflict of Interest rule applicability date

March 09, 2017

On March 1, 2017, the Department of Labor released a proposal to delay the “applicability date” of its Conflict of Interest (aka “fiduciary”) regulation by 60 days, from April 10, 2017 to June 9, 2017. Interested persons have 15 days to comment on the proposed extension. In this article, we briefly discuss DOL’s proposed extension. We note that President Trump’s nominee for Secretary of Labor, Alexander Acosta, has not yet been confirmed. Nor, critically, has a new head of DOL’s Employee Benefit Security Administration (EBSA). Read More

Possible update to state mandatory private sector auto-IRA programs

February 23, 2017

In this article we briefly review two recent developments in the initiative by certain states (and certain large cities) to require private sector employers that do not offer a retirement plan to provide an auto-IRA for their employees. Read More

Federal court rules in favor DOL in Conflict of Interest rule lawsuit

February 09, 2017

On February 8, 2017, the United States District Court for the Northern District of Texas (Dallas Division) ruled in favor of the Department of Labor in Chamber Of Commerce of the United States of America, et al. v. Edward Hugler, Acting Secretary of Labor, the lawsuit brought by the Chamber of Commerce and other industry groups challenging the legality of DOL’s Conflict of Interest rule (and related rulings). Read More

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