Washington Perspective, September-October 2008

Senate HELP Committee Hearing Focuses on 401(k) Fee Disclosure

At a mid-September hearing two members of the Senate Committee on Health, Education, Labor and Pensions (HELP) reemphasized their commitment to expanding 401(k) fee disclosure and the use of software programs that would aid individuals in making investment decisions. [more on the fee disclosure]

Senate Leaders Completing Charitable IRA Rollover Provision

Key Senate leaders were working in mid-September to reach a bipartisan agreement on how the Senate might address charitable IRA rollover tax incentives that expired in 2007. [more on the Rollover Provision]

Proposed Legislation Aims to Limit 401(k) Loans

Sen. Charles Schumer (D-NY) and Sen. Herb Kohl (D-WI) recently introduced a bill, S. 3278, which would prohibit companies from issuing 401(k) debit cards. The cards allow users to take out loans against their 401(k) accounts to make daily purchases. [more on the 401(k) loans]

President Bush Approves Heroes Earnings Assistance and Relief Tax Act of 2008

President Bush has signed legislation that improves the retirement plan benefits of employees who serve in the military in part by bridging their military service to their existing civilian employment benefits. [more on the Relief Tax Act]