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News Archive
PSCA Member Alert: Tax Reform - 401(k)/403(b) Pre-tax Contributions Unaffected
One summary of the Tax Cuts and Jobs Act, HR 1, released this morning by the House of Representatives, Ways and Means Committee, states, in part: "...The Tax Cuts and Jobs Act makes no changes to the popular retirement savings options that Americans have today - including 401(k)s and Individual Retirement Accounts, or IRAs. Americans will be... Read More >>
PSCA Encourages Plan Sponsors to Raise Their Voices About Tax Reform
The Plan Sponsor Council of America (PSCA) encouraged its members and all plan sponsors to reach out to their legislators regarding their concerns about changes to retirement savings limits. PSCA’s recent survey of plan sponsors on the impact of tax reform, available here, found 90% are strongly or somewhat opposed the reduction of tax incentives... Read More >>
PSCA to Host Two NQDC Webinars; Opens NQDC Survey
The Plan Sponsor Council of America (PSCA) announced today that it has opened registration for two upcoming webinars focused on Nonqualified Deferred Compensation (NQDC) plans. PSCA also opened its annual NQDC survey and is seeking plan sponsor participation. The first webinar, scheduled for Tuesday, October 31 at 12 p.m. EST, will be hosted by... Read More >>
Addressing Disasters & Emergencies in DC Plans
In the wake of hurricane Harvey, the IRS and DOL have issued temporary relief on certain deadlines and procedural requirements applicable to tax qualified employee benefit plans. Similar relief may follow with respect to hurricane Irma. Click here for PSCA's blog post on what is included and not included in the relief and steps sponsors may want... Read More >>
PSCA Snapshot Survey Results: Impact of Tax Reform on DC Plans
The Plan Sponsor Council of America (PSCA) today released the results of a new snapshot survey to gather insights on the impact of possible changes to tax preferences for retirement savings plans. Congress is considering reducing or eliminating pre-tax contributions as part of a plan to raise tax revenues and offset anticipated losses in tax... Read More >>
US Senate Acts on State Mandates
In May 3, 2017, the United States Senate voted 50-49 to move forward a resolution of disapproval under the Congressional Review Act of 1996 to nullify the Obama administration era Department of Labor (DOL) regulation that created a safe harbor for state-based IRA programs requiring mandatory participation. Once this resolution (House Joint... Read More >>
PSCA Releases Results of First Ever HSA Snapshot Survey
The Plan Sponsor Council of America’s newly created HSA committee has released the results of their first ever snapshot survey designed to measure plan sponsors use of HSAs and their perceptions of HSAs as a retirement savings vehicle. The full survey is available at https://www.psca.org/survey_HSA_2017 and a summary of findings follows. Benefits... Read More >>
PSCA to Participate in New Save Our Savings Coalition
The Plan Sponsor Council of America (PSCA) will join the Save Our Savings (SOS) Coalition, a newly-launched group of industry experts advocating on behalf of Americans’ retirement savings as the new administration and Congress look ahead to a comprehensive tax overhaul. Research shows that Americans overwhelmingly support tax incentives for... Read More >>
PSCA Forms New Committee Focused on Health Savings Accounts
The Plan Sponsor Council of America (PSCA) announced today that it has created a new committee to address Health Savings Accounts (HSAs) as they relate to plan management and participants’ overall financial wellness and retirement readiness. The use of HSAs has grown dramatically the last 5 years with double the assets held in accounts in 2016... Read More >>
The Trump Administration Delays Fiduciary Rule Implementation
The The Trump Administration today directed the Department of Labor to re-examine the "Fiduciary Rule" and prepare an updated economic and legal analysis of its impact. This could result in the Department delaying the implementation of the Rule. Although early drafts indicated that the delay would be for a specific timeframe, the final executive... Read More >>