For tens of millions of American workers, planning for retirement begins with participation in an employer-sponsored 401(k) plan. The Council urges lawmakers to avoid enacting any policies that would undermine or disrupt the system for current and future participants. To provide additional information on 401(k) plans, the Council has prepared a detailed fact sheet on its recent 401(k) plan survey and an update of Fast Facts on 401(k) Plans.
Council Testifies Before EEOC on Wellness Programs
In a hearing before the Equal Employment Opportunity Commission (EEOC) on May 8, Tamara M. Simon, Managing Director of the Knowledge Resource Center at Buck Consultants, testified on behalf of the American Benefits Council on the current regulatory landscape for employer-sponsored wellness plans and concerns employers have with regard to Americans with Disabilities Act (ADA) compliance.
"The health and wellness of the American workforce is not simply an employer issue. Rather, it is an issue for the entire nation," Simon said in her written testimony. "Creating a regulatory framework by which employers can create nondiscriminatory wellness programs that help support the shared vision of improving health for all citizens is the ultimate goal."
Joint Tax Committee Summary of Tax Reform Proposals Includes Retirement Incentives
In an extensive document issued on May 6, Congress' Joint Committee on Taxation (JCT) summarized current law, key tax reform proposals and formal submissions to the House of Representatives Ways and Means Committee working groups on tax reform. The tax incentives that serve as the foundation for the voluntary employer-sponsored retirement plan system are noted prominently in the committee's report.
The section on submissions to the Pensions/Retirement Working Group includes recommendations from the Council's statement to the Pensions/Retirement Working Group, such as our proposed automatic enrollment and escalation safe harbor, promotion of electronic notices, measures to improve the environment for pension plans and expansion of tax credits to encourage plan sponsorship by small businesses.
For American Benefits Council members, we offer a regular newsletter with the latest information on legislative, regulatory and judicial developments affecting employee benefits.
- Senate Finance Committee Staff Release Proposals for Economic Security Tax Rules
- Neal Introduces Retirement Plan Simplification Legislation
- Employer Shared Responsibility
- Market Reforms & Adult Child/Age-26 Coverage
- Preventive Care & Value-Based Design
- Quality Improvement & Delivery Reform
- Essential Benefits
- Tax & Revenue Issues
- Grandfathered Plans
- Claims and Appeals
- Summary of Benefits & Coverage
- Information Reporting/W2
- Health Insurance Exchanges
- State Innovation
- Medical Loss Ratio & Mini-Med Plans
- Automatic Enrollment
- Wellness Programs
- Accountable Care Organizations
- Automatic Enrollment
- Plan fees
- Taxation of Retirement Plans/Limits
- Funding Reform
- PBGC Deficit & Premiums
- Business Conduct Standards
- FACTA Issues
- FBAR Issues
- Puerto Rico Plans
- Non-Qualified Deferred Compensation
- Code Section 409(A), 457(A), 162(m) issues
Become a Member
The American Benefits Council's mission is to be the most effective advocate of employer-sponsored benefit programs in Washington, D.C. Our members either sponsor directly, administer or service retirement, health and stock compensation plans covering more than 100 million Americans.
Click below for more information about membership.