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Tuesday, January 12, 2021
Washington Update – What the 2020 Election Means for Retirement Policy
The 2020 election is now behind us but what does it mean for retirement policy in the future? The Securing a Strong Retirement Act of 2020 has been introduced in Congress on a bi-partisan basis by the Chair and Ranking Member of the House Ways and Means Committee. Many are referring to the bill as “SECURE 2.0” and it will most certainly be the foundation for future pension reform. On a more partisan basis, Representative Richie Neal (D-MA) is expected to reintroduce the Automatic 401(k) Act that would mandate that all employers sponsor a 401(k) plan. In addition, during the campaign, President-elect Biden put forth a proposal that would make radical changes in the way 401(k) contributions are made and taxed. President-elect Biden will also have his own regulatory agenda that will be far different than the last 4 years. Learn about these important topics.
About Our Presenter:
Practice Manager & ShareholderNova 401(k) Associates
Craig P. Hoffman is an Attorney/Senior Consultant with Nova 401(k) Associates in Houston, Texas. For over thirty-five years, Craig’s practice has focused exclusively on federal tax and ERISA matters relating to the design, implementation, and operation of tax-qualified retirement plans. He previously served as Counsel to the Trucker Huss law firm in San Francisco, California. Before joining Trucker Huss, Craig served 10 years as General Counsel for the American Retirement Association, (“ARA”), a national organization of over 20,000 members who provide actuarial, consulting, administrative, legal, investment and other professional services for qualified retirement plans and tax-sheltered annuities. Craig had previously served ARA as President, a member of the Board of Directors, Co-Chair of the Government Affairs Committee and Co-Chair of the Political Action Committee. Prior to joining ARA, Craig served for over 19 years as General Counsel to the Relius division of SunGard, which is now part of Fidelity National Information Services, Inc. (“FIS”).
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