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Washington Perspective

Washington Perspective

Washington Perspective

A Message From Angela Montez, ICMA-RC's Senior Vice President, General Counsel and Chief Legal Officer

ICMA-RC Encourages Public Sector Employees to Take Action during America Saves Week

February 24, 2020

As part of America Saves Week 2020 (ASW), which takes place February 24 – February 29, 2020, ICMA-RC is spreading the message of saving successfully by urging public sector employees to assess their 2020 savings goals and take the necessary actions to make sure they are on track for a secure retirement.

SECURE Act Enacted

December 20, 2019

On December 20, 2019, President Trump signed into law a $1.4 trillion spending bill to fund the federal government through the end of its fiscal year (September 30, 2020). Attached to the bill was the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019; the first significant pension reform in a more than a decade.

Proposed Update to Required Minimum Distribution Rules

December 3, 2019

On Nov. 7, 2019, the Department of Treasury and the Internal Revenue Service proposed regulations to update the life expectancy and distribution period tables used to calculated required minimum distributions (RMDs) from retirement plans and IRAs.

DOL Releases Proposed Electronic Disclosure Safe Harbor

November 14, 2019

On October 23, 2019, the Department of Labor (DOL) released a proposed rule that would create a new voluntary safe harbor to allow employee pension benefit plans to communicate certain plan-required notices and disclosures electronically.

IRS Announces 2020 Retirement Plan Contribution Limits

November 7, 2019

On November 6, 2019, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2020.

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.

A Message From Angela Montez, ICMA-RC's Senior Vice President, General Counsel and Chief Legal Officer

Advocacy and Thought Leadership

ICMA-RC works with industry groups and meets with key Congressional staff at the Federal level as well as representatives at the State level to share our perspectives on policies and legislation we believe will positively impact plan sponsors and participants and better enable us to fulfill our mission of helping public employees build retirement security. Read more.

We encourage you to use this resource for updates on these and other retirement-planning topics as they develop.

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