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Legislative and regulatory affairs

Keeping you updated on the latest retirement policies and regulations is a responsibility we take seriously.

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Instant Insights

Retirement policy news that may impact plans and participants

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Stay on top of legislative and regulatory news with Empower

Review our quarterly publications for 401(k), 403(b) and government plans.

* Democrats in Congress continue to negotiate on what should be included in the Biden administration’s Build Back Better agenda. On November 3, 2021, three retirement-related provisions that had been removed the prior week were reinstated.

  • Capping aggregate retirement savings in defined contribution and IRA (The provision will now become effective in 2029.)
  • Prohibiting conversions of after-tax monies to Roth accounts beginning in 2022 (applies to everyone regardless of income level)
  • Prohibiting pretax Roth conversions for high-income individuals beginning in 2032

Two of the retirement provisions remain out of the current bill:

  • Mandatory automatic contribution plans and arrangements
  • Making the saver’s credit a refundable contribution to retirement savings vehicles

As we always note, there could be further changes and additions. We will continue to update you on any new developments.




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