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PSCA Executive Reports

May 31, 2018

Education & Workforce Committee Hearing on Retirement

tOn May 16, the House Education and Workforce Committee held a subcommittee hearing focused on bipartisan retirement legislation. The hearing entitled “Enhancing Retirement Security: Examining Proposals to Simplify and Modernize Retirement Plan Administration” was not technically a legislative hearing but focused discussion on bills addressing electronic disclosure, open multiple employer plans, a fiduciary safe harbor for in-plan lifetime income investment options, and an increase in the limit for involuntary cash-outs.  Lawmakers and witnesses were unusually harmonious in their praise of the bills and desire to move ahead on such important issues. 

The bills covered in the hearing were:

Given the political realities of this Congress, no substantial movement on retirement legislation is expected until later this summer or fall at the earliest.   

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