Washington Perspective, February 2007

2008 Presidential Budget Renews Administration Efforts On Savings Plans

The Bush Administration's Fiscal 2008 proposed budget once again includes proposals to consolidate existing 457, 401(k), and 403(b) retirement savings plans, and several types of IRAs. In addition, health savings accounts (HSAs) would replace Flexible Savings Accounts and other tax-advantaged health care cost programs - all in the name of simplification. [more on the 2008 Presidential Budget]

Shift in Congress Could Result in New Developments on the Retirement Horizon

Democratic control of Congress will likely bring change to the legislative picture, though its impact on benefits and retirement policy may not be felt before the 2008 elections and the resulting change in the White House, say longtime Congressional observers. [more on the new Congress and retirement legislation]

White House Proposes Health Reforms

The President’s health insurance reforms draw spectrum of supporters, but face marketplace and political opposition. [more on the health insurance proposals]

GAO Study Advocates Greater 401(k) Plan Fee Disclosure

The Government Accountability Office (GAO) is taking aim at fees charged to participants in 401(k) plans, calling for more disclosure and new regulations that would require service providers such as brokers to tell plan sponsors about any compensation they receive to recommend specific investments. [more on the GAO study on 401(k) fees]