Washington Perspective, August 2009

A Retirement Agenda that Could Roll Back Key Investment Advice Arrangements

Congress is still showing interest in revising fee disclosure laws, with an eye on requiring more detailed disclosure and more direct comparisons to relevant benchmarks, issues that have drawn members’ attention for more than a year. [more on the Retirement Agenda

Fee Investment Advice Bill

The House Education & Labor Committee, chaired by George Miller (D-CA), has approved bills related to fee disclosure and financial advice from financial institutions. One bill provides for enhanced fee disclosure for retirement plan participants, providers and sponsors. [more on Fee Investment Advice Bill]

Rep. Neal Reintroduces Fee Bill with a Number of Modifications

Rep. Richard Neal (D-MA), Chairman of the House Ways & Means Subcommittee on Select Revenue Measures, has reintroduced his Defined Contribution Plan Fee Transparency Act. [more on the Rep. Neal Reintroduces Fee Bill]

House Considering Break for HRAs on Treasury Ruling

The Tax Equity for Health Plan Beneficiaries Act (H.R. 2625) was included in the comprehensive health reform bill that the House Ways & Means Committee considered, the America’s Affordable Health Choices Act, (H.R. 3200). [more on the House Considering Break for HRAs]

Regulatory Round Up

DOL, SEC hearing considers further target date funds oversight -- Securities and Exchange Commission (SEC) Chair Mary Shapiro and a series of mutual fund industry representatives were among those considering changes in how target date funds are structured and marketed in a Joint Hearing on Target Date Funds held June 18 at the DOL. [more on the Regulatory Round Up]

Value Funds focus of DOL advisory council hearings

The DOL's ERISA Advisory Council is considering if further stable value fund regulation or guidelines are necessary in the aftermath of the financial markets’ performance since last September. [more on the Value Funds focus of DOL advisory council hearings]