The American Bankers Association this week reiterated concerns about proposed amendments to Prohibited Transaction Exemption 84-14, known as the Qualified Professional Asset Manager exemption, in a letter to the U.S. Department of Labor.
The IRS has issued a proposed rule to make permanent temporary relief from the physical presence requirement for participant elections and spousal consents.
The American Bankers Association along with 17 associations and businesses today sent a joint letter to the IRS requesting that the agency make permanent the temporary relief from the physical presence requirement for spousal consent granted during the early days of the pandemic.
The Department of Labor finalized a new rule regarding environmental, social and governance investing and a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
The U.S. Department of Labor failed to seek advance input from affected parties—as required by official rulemaking procedures—before issuing proposed amendments to the Qualified Professional Asset Manager exemption, the American Bankers Association said Thursday during a public hearing on the proposal.
Last week, the IRS announced that its soon-to-be final regulations on required minimum distributions will apply starting next year.
Most retirement plan participants say their financial health in deteriorating, and when they turn to their plan’s apps and websites for help, they are not finding what they need, according to a recent survey by research firm J.D. Power.
ABA sent a letter to Senate Finance Committee leaders in support of the Enhancing Retirement Now Act, which would significantly improve retirement savings for Americans. “
The proposed legislation includes a number of provisions that would facilitate the establishment and administration of retirement plans.
ABA this week joined a coalition of financial, insurance and employment trade groups in a letter supporting S. 4353, the bipartisan Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act, or the Rise and Shine Act.