Retirement Issues Begin to See Activity in Washington

Between a recent White House directive and more legislative proposals from Capitol Hill, plan executives and other retirement security advocates are encouraged that, while it might take months or years to see concrete change, Washington is paying attention to retirement issues, reports Pensions & Investments . The ideas coming out of Washington include promoting open multiple employer plans (MEPs), reducing paperwork burdens on plan sponsors, establishing tax credits to encourage small employers to offer retirement plans, setting higher default contributions for automatic enrollment and escalation in defined contribution plans, and updating timetables for required distributions.