The U.S. House could bring up H.R. 6757, the Family Savings Act bill, and H.R. 6760, the Protecting Family and Small Business Tax Cuts Act bill, to the floor this week.
Both bills are full of provisions that could do interesting things for, or to, agent’s and broker’s clients.
The House could also vote on H.R. 3798, the “Save American Workers Act of 2017″ bill. That bill is full of provisions related to the Affordable Care Act (ACA) employer mandate.
But analysts at Lockton Companies, a Kansas City, Missouri-based benefits firm, say it’s unlikely that anything in those three bills will become law before the November midterm elections.
Retirement-related provisions in H.R. 6757 and H.R. 6760 could do things like helping employers join together to form multi-employer retirement plans.
Provisions in those bills, or popular proposals for amendments, could also do things like:
- Encouraging employers add annuitization options to 401(k) plans.
- Creating a new universal savings account program, to encourage consumers to build up emergency savings.
- Easing the current required minimum distribution rules for retirement plan users.
The retirement provisions themselves have support from both Republicans and Democrats, in both the House and the Senate, but, for those provisions, the problem is the neighbors.