Regulatory and Legislative

Bill Proposed in House to Allow CITs in 403(b) Plans

Congressman Patrick McHenry (R-NC), Chairman of the House Financial Services Committee has introduced H.R. 2799, the Expanding Access to Capital Act. Included in the proposed bill is a provision that would amend securities laws to allow collective investment trusts (CITs) in 403(b) plans. While SECURE 2.0 amended the Internal Revenue Code to allow CITs for 403(b) arrangements, correlating securities laws amendments required to fully implement the provision were omitted.

Defined Contribution Plan Legislative updates

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Missouri, Oregon, Alaska

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.

Regulatory and Legislative

DOL Announces 2025 Inflation Adjustments for Civil Penalties

The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.

Regulatory and Legislative

PBGC Announces 2025 Inflation Adjustments for Civil Penalties

The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information and for failure to provide certain multiemployer notices.