Public Policy
Public Policy
It’s our responsibility to serve as your advocate and to influence positive change in Washington, D.C., regarding retirement issues and regulations.
It’s our responsibility to serve as your advocate and to influence positive change in Washington, D.C., regarding retirement issues and regulations.
Advocate and influence positive change
Advocate and influence positive change
As an industry leader, we have an important responsibility to be your advocate and influence positive change in Washington, D.C. We regularly voice our concerns on Capitol Hill on matters that affect retirement issues and regulations. Our leadership team has unique insight because we cover all markets and all plan types. This is a position we don’t take lightly — and one that lends itself to greater credibility as we work on your behalf to help transform the workplace savings system.
Stay on top of legislative and regulatory news with Empower
Select benefit and contribution dollar limits 2025-2020
On November 1, 2024, the Internal Revenue Service announced contribution and benefit dollar limits for 2025.
Final and proposed required minimum distribution regulations
The IRS has released widely anticipated 2024 final regulations that adopt, update, and clarify the 2022 proposed regulations under Code Section 401(a)(9) and related sections to reflect the new provisions affecting required minimum distributions (RMDs) from retirement plans, annuities, and IRAs as amended by the SECURE Act of 2019 and SECURE 2.0 of 2022.
SECURE 2.0 distribution guidance
In the SECURE 2.0 Act, Congress sought to address a number of concerns with enhancements for workplace retirement savings plans. It included provisions expanding coverage, encouraging the adoption of plans by small employers, and easing administrative burdens. Giving plan sponsors the ability to allow participants access to their retirement accounts in certain emergency situations was another area Congress addressed.
SEC rulemaking
Over the last few years, the Securities and Exchange Commission (SEC) has proposed a number of regulations that cover an array of topics — from climate-related disclosures to cybersecurity. However, two proposals have received significant attention due to what we believe is the indirect negative impact to retirement plans: swing pricing and "hard close," and predictive data analytics. Based on comments regarding both proposed regulations, the SEC anticipates future re-proposals
SECURE 2.0 Act of 2022
The SECURE 2.0 Act of 2022, enacted into law on December 29, 2022, provides plan sponsors and participants new opportunities and represents an important step forward in helping American workers achieve retirement security. Our summary of key SECURE 2.0 provisions follows.
Final investment advice fiduciary regulation
On April 23, 2024, the Department of Labor (the DOL) released its final rule defining who is an investment advice fiduciary and related amendments to prohibited transaction exemptions (PTEs) available to advice providers.
Expanding investment options for 403(b) plans
In early March, the House of Representatives voted to advance the Retirement Fairness for Charities and Educational Institutions Act of 2023.
Biden administration 2025 budget
In March, the Biden administration released its proposed budget for the 2025 fiscal year.
Industry insights
Industry insights
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