Legislative Updates
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- U.S. Labor Department Releases New Guidance on Pension Protection Act
- ICMA-RC, posted January 12, 2007
- The U.S. Department of Labor recently distributed a press release stating that new guidance has been issued regarding the recently passed Pension Protection Act (PPA).
- Summary of Pension Protection Act Changes Impacting Governmental 457(b) and 401 Plans
- Posted December 13, 2006
- ICMA-RC has reviewed the Pension Protection Act of 2006 (“PPA”) and developed a summary of the key provisions impacting governmental 457(b) and 401 plans.
- ICMA-RC Thanks Employers for Participating in National Save for Retirement Week
- ICMA-RC, posted November 1, 2006
- ICMA-RC would like to thank everyone who participated in the first National Save for Retirement Week (Oct. 22-28, 2006). ICMA-RC’s mission is building retirement security. One of our goals is to encourage public sector employees to save more, by emphasizing that only through individual saving in defined contribution and supplemental savings plans will they build retirement security.
- IRS Announces Pension Plan Limits for 2007 and Social Security Announces 2007 Wage Base
- ICMA-RC, posted October 19, 2006
- The standard contribution limit for 457 plans increase to $15,000 in 2006. To increase your personal contributions to take advantage of this new limit, please contact your employer and start saving more for retirement today.
- Women’s Retirement Security Bill Introduced
- Communications, posted October 4, 2006
- Sen. Gordon Smith introduced a new bill that places strong emphasis on encouraging and educating women to save. The legislation aims to provide women with simplified solutions that could help strengthen their ability to build retirement security.
- Senate Passes Pension Protection Act of 2006 (HR 4), EGTRRA Made Permanent
- Posted August 4, 2006
- On August 3, 2006 the Senate passed HR 4, The Pension Protection Act of 2006 without amendments sending the bill to the President's desk for signature. Included in the bill were the major provisions of EGTRRA Permanency.
- Tax Reform Hearings
- Posted July 28, 2006
- The Senate Finance Committee Chairman Charles Grassley (R-IA) announced that the Committee would begin holding hearings on tax reform during the last week of July.
- SEC Partners Hosts Seniors Summit
- Posted July 28, 2006
- The U.S. Securities and Exchange Commission held a Seniors Summit, a panel discussion created to examine investor protection issues that are unique to seniors on July 17, 2006.
- Legislation to Key in on Women’s Retirement Savings
- Posted July 28, 2006
- Senators Gordon Smith (R-OR) and Kent Conrad (D-ND), who together co-sponsored the Retirement Savings and Security Act of 2005 are teaming up once again to encourage Americans, and women in particular, to save for retirement.
- Goldman Sachs Chief Executive Office Henry Paulson Becomes the Nation’s 74th Treasury Secretary
- Posted July 28, 2006
- The United States Senate confirmed Goldman Sachs Chief Executive Office Henry Paulson as the nation’s 74th Treasury Secretary on June 29, 2006.
- Congress Agrees on Tax Relief and Eliminates Income Limitations on Roth IRA Conversions
- Posted May 12, 2006
- Negotiators reached agreement on a bill that would extend the current reduced tax rates on capital gains and dividends, increase the threshold for the alternative minimum tax, and eliminate income limitations for Roth IRA conversions.
- ICMA-RC Calls for Permanency of Savings Plan Reforms
- Communications, posted April 18, 2006
- ICMA-RC is urging retirement plan employers to support passage of legislation that would make permanent key provisions of their defined contribution plans.
- Funding OPEB Liabilities: Assessing the Options
- ICMA-RC, posted January 31, 2006
- Fulfilling retiree pension and other benefit obligations has become a major concern in both government and private sectors. In this informative Standard & Poor’s® article, new OPEB accounting rules are the implications for states and localities are examined. In addition, strategies are offered to help employers reduce OPEB costs.
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