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Retirement Regulation/legislative

Retirement Savings Tax Incentives: Impact of Biden Individual Tax Proposals

Biden’s increase in capital gains tax will have a significant impact on retirement savings tax incentives. For those affected by the increase in capital gains tax, the value of saving in a tax qualified retirement plan could nearly double when compared to saving outside of the plan.

Committee Chairmen Introduce Multiemployer Pension Plan Reform in House

Multiemployer plans that would be eligible for partitioning through 2024 would be those in critical and declining status, those with significant underfunding and at least 50% more retirees than actives, those that have suspended benefits, and certain plans that have already become insolvent.

House Committee Chairmen introduce single employer funding relief

On January 21, 2021, Congressman Neal (D-MA), Chairman of the House Ways and Means Committee, and Congressman Scott (D-VA), Chairman of the House Education and Labor Committee, introduced single employer plan funding relief proposals. Both bills are titled the “Emergency Pension Plan Relief Act of 2021.”

2021 Retirement policy legislative agenda

With the Democrats in control of both houses of Congress, they are now in a position to move legislation. In what follows we discuss, briefly, the procedural issues that may limit what legislation may be viable, and then consider a variety of proposals that indirectly or directly affect retirement policy that Democrats may consider giving priority.

New Administration, new Congress

With the focus currently on how President-Elect Biden will staff his new Administration and on the change in control of the Senate, we provide a brief review of the key Administration jobs that President Biden will have to fill, and the key Congressional leadership, that directly affect retirement savings policy, and some of the issues they will be considering.