At the end of March 2022, the Securing a Strong Retirement Act of 2022 was passed by the US House of Representatives by an overwhelming 414-to-5 vote. Commonly referred to as “SECURE 2.0,” since it builds on the last major piece of retirement legislation, the SECURE Act (formally known as Securing a Strong Retirement Act of 2019), the House bill…
Executive compensation programs provide tax advantages that help corporations hire and retain talent. As the Biden Administration and the 117th Congress look for more revenue-raising opportunities, we expect the general push will lean toward cutting back on these tax advantages. This legislative trend is already underway. The recently enacted American Rescue Plan (COVID-19 relief package) included a change to Internal…
In my last blog, I outlined some of the key provisions of the Neal-Brady bill — aka, the SECURE Act 2.0. In today’s post, let’s look at what retirement legislation may develop beyond Neal-Brady, now that the Democrats control the White House, House of Representatives, and the Senate. Recently, House Ways and Means Committee Chairman Richard Neal (D-MA), co-author of…
Last year, Congressmen Richard Neal (D-MA) and Kevin Brady (R-TX) introduced the Securing a Strong Retirement Act of 2020, also known as the Neal-Brady bill. Since the proposed legislation builds on the 2019 Setting Every Community Up for Retirement (SECURE) Act, Neal-Brady has also been dubbed “SECURE ACT 2.0.” With Democratic control of the White House, Senate, and House of…