Legislation Introduced to Aid Struggling Defined Benefit Plans
House Ways and Means Committee Chairman Richard Neal (D-MA) has introduced in the initial days of the 117th Congress the Emergency Pension Plan Relief Act (EPPRA) of 2021.
Spending Bill Contains Coronavirus Relief
On December 21, 2020, Congress passed additional measures to provide economic relief from the effects of the coronavirus pandemic. On December 27, 2020, it was signed into law.
COVID Relief and Government Funding Legislation Delayed
Legislation for a new round of economic relief for victims of the COVID-19 pandemic and extend funding for federal government agencies remains in pending status.
Congress Approves Additional COVID Relief
Agreement reached on a new round of economic relief for victims of the COVID-19 pandemic.
Tax Benefits for Retirement Distributions for LTC Insurance
Proposed legislation would permit tax-free retirement savings distributions of up to $2,500 per year—indexed for inflation—that are used to purchase long-term care insurance.
Sequel to SECURE Act Introduced
Richard Neal (D-MA) and Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2020, described as building on major retirement legislation enacted in December 2019.
IRS Updates Deadline Relief for Victims of California Wildfires
The IRS has updated deadline relief for completing certain time-sensitive, tax-related acts for victims of California wildfires that began on August 14, 2020.
Prospects Questionable for New Pandemic Relief Bill
The House of Representatives has released text of a revised COVID-19 pandemic relief bill, expected to be voted on this week before the House recesses for pre-election campaigning.
House Bankruptcy Bill Would Impact Retirement Plans
H.R. 7370, the Protecting Employees and Retirees in Business Bankruptcies Act of 2020, has been introduced by Rep. Jerrold Nadler (D-NY).
Legislation Would Allow Delay of 2020 Retirement Contributions
S. 4539 has been introduced with COVID-19 liability protection for businesses and healthcare providers, a tax credit for employer COVID-19 testing, and several retirement provisions.
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