regulatory updates

Senate Finance Releases Its Version of SECURE 2.0

The Senate Finance Committee has released an outline of its version of proposed retirement reform on the heels of passage of the Rise & Shine Act out of the Senate HELP committee last week.

FuturePlan ERISA Team

Legislative updates

Big Changes May be in Store for the Davis-Bacon Act

The Davis-Bacon Act (DBA) has played a major role in the construction industry for over 90 years.

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

DOL

Starter-K Companion Legislation Introduced in House

Representatives Linda T. Sánchez (D-CA) and Darin LaHood (R-IL) introduced the Starter-K Act, legislation intending to expand access to retirement savings for more Americans.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Auto-Portability Legislation Introduced

Senators Tim Scott (R-SC) and Sherrod Brown (D-OH) have introduced the Advancing Auto Portability Act of 2022.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Federal Prime Interest Rate Increased to 4.75%

Effective June 15, 2022, the Federal Prime interest rate increased from 4.00% to 4.75%.

FuturePlan ERISA Team

Retirement Spotlight

RISE & SHINE Act Approved by Committee

The Senate HELP Committee unanimously passed out of committee S.4353 the RISE & SHINE Act (previously announced), with two amendments.

FuturePlan ERISA Team

Legislative updates

Senate HELP Committee Retirement Bill Introduced

The Senate HELP committee’s RISE & SHINE Act has been introduced.

FuturePlan ERISA Team

Legislative updates

Senators Announce Cryptocurrency Bill

The “Lummis-Gillibrand Responsible Financial Innovation Act” is set to be introduced in the Senate.

FuturePlan ERISA Team

Legislative updates

Cryptocurrency

IRS Announces Pre-Examination Compliance Pilot

The IRS is piloting a pre-examination retirement plan compliance program beginning in June 2022.

FuturePlan ERISA Team

Defined contribution plan

IRS

Financial Freedom Act Proposed in House

Representative Byron Donalds (R-FL) and several Republican co-sponsors have introduced HR 7860, the Financial Freedom Act of 2022.

FuturePlan ERISA Team

Legislative updates

DOL

Defined Contribution Plan

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