Legislation Archives - Allen Steinberg

erisachicago

12.01.2024 02.55 CST

IRS Guidance on recent legislation helps employers start planning for next few years.

SECURE Act Provisions Start Taking Shape

As we enter 2024, employers (and their providers) are starting to get more IRS guidance on recent pension legislation.

Legislation SECURE 2.0 SECURE Act

The IRS ended 2023 with new guidance on the SECURE Act and SECURE 2.0. These included proposed regulations on the new requirements for long-term part-time employees and a grab-bag of Q&As on miscellaneous provisions of SECURE 2.0. Overall, the IRS guidance does not contain dramatic surprises—but it does help employers and their providers start planning for the next few years.

Allen Steinberg

03.01.2020 02.04 CST

The SECURE Act, signed by President Trump, contains a potpourri of provisions encouraging plan formation, use of annuities and adoption of safe harbor designs.

SECURE Act Passed–Ensuring Much Activity and Some Change

New Legislation Creates Planning Opportunities and Pitfalls.

annuity Legislation MEPs SECURE Act

The SECURE Act offers employers some new options and alternatives--and a handful of new mandates. Overall, the Act seeks to encourage employers to adopt retirement plans and to encourage employees to use those plans. Although the Act will not rock the retirement plan world, over the course of time it may shake things up just a bit.

Allen Steinberg

12.03.2018 05.31 CDT

The past year has seen a number of new state and local laws covering a range of benefits-related areas. However, this legislative and regulatory patchwork has a down side for employers, who may find it increasingly difficult to deal with complying with the requirements of multiple jurisdictions.

The New Federalism: Employee Benefits in the Laboratory

In the federal system, states can serve as “laboratories” for different policies. It appears that the benefits and HR community have become the guinea pigs of choice as the state “laboratories” have attempted to push back at the policies (or lack thereof) emanating from Washington, D.C.

benefits federal state

The past few years has seen a number of new state and local laws covering a range of benefits-related areas. In part, this activity can be attributed to pushback at the policies (or lack thereof) emanating from Washington, D.C. And, we can anticipate an increase in such activity in the coming years. However, state and local activism can have some unintended (and undesirable) consequences.

Allen Steinberg

15.10.2017 10.06 CDT

Lawsuits challenging the fiduciary practices of major colleges and universities have survived motions to dismiss. And so, the legal battles over plan costs will continue.

Higher Ed Fiduciary Lawsuits: A Scorecard and Some Observations

Over the past few months, decisions have been issued in six of these cases (the suits against MIT, The University of Pennsylvania, Johns Hopkins, NYU, Duke and Emory). Here are some comments on this first round of decisions.

Duke Emory Johns Hopkins MIT University of Pennsylvania

The first round of court decisions has been issued in the fiduciary challenges to major colleges and universities. Overall, the courts have been allowed the core allegations - that the schools breached their fiduciary duties by allowing the plans to pay excessive fees – to continue. These decisions increase the likelihood that other schools will be subject to copycat fiduciary litigation.

Allen Steinberg

14.06.2017 01.07 CDT

Is the time right for a new, national paid parental leave program?

Paid Family Leave – An Emerging Consensus?

New Proposal for Paid Family Leave Program Shows Promise

Legislation Paid Leave Parental Leave

Is a consensus emerging on a national paid parental leave program?