In the run up to the Congressional recess for elections, the Senate unanimously passed a bill that would clarify ERISA Section 4062(e), while the Congress passed a short-term continuing resolution that will keep the government funded through December 11, 2014. The Senate Finance Committee also held a hearing on “Retirement Savings 2.0” and two CIEBA members testified before the House Ways & Means Select Revenue Measures Subcommittee.

The recent weeks also witnessed multiple regulatory actions impacting CIEBA members. The Treasury Department released long-awaited final regulations on the market rate of return rules for hybrid pension plans in addition to guidance on rollovers from Roth accounts and on the impact of the extension of MAP-21 pension interest rate smoothing provisions. The Department of Labor released a field assistance bulletin on fiduciary obligations to locate missing participants.

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