A View from the Road: Washington, D.C. Fly-In

In mid-June, PSCA members went to Capitol Hill to meet with key staff members of the Senate HELP Committee, Senate Finance Committee, and House Education & Workforce Committee.

The staff members repeatedly complimented PSCA for its leadership throughout the years and objective voice on behalf of plan sponsors in their communities. They solicited our reaction and concerns related to:

• The DOL’s 2015 Fiduciary Rule proposal
• IRS Determination Letter Program changes
• The RETIRE Act

In response to questions about the DOL’s 2015 Fiduciary Rule proposal, PSCA representatives summarized the 68-year old organizations’:

• Ongoing deliberative process to assess provisions of the proposed changes
• Intent to submit formal comments on behalf of Plan Sponsors by July 6
• Commitment to share its comment with legislative leaders and staff from both parties

PSCA committed to additional follow-up including:

• Subsequent conversations regarding the IRS Determination Letter Program changes 
• Letter of Support for HR 2656 
• Ongoing delivery of DC plan thought leadership, qualitative analysis, and quantitative evidence 

Throughout the visit, it was clearly stated that our visit was valued by leaders on Capitol Hill and PSCA is regarded as the preeminent consumer advocate for Plan Sponsors.