A stand-alone pension bill that re-introduces the concept of a Pooled Employer Plan (PEP) surfaced in the Senate recently, sponsored by Senate Finance Committee Chairman Orrin Hatch, R-Utah, and Ranking Member Ron Wyden, D-Oregon.
A previous version of the bill was reported out of the Finance Committee in September 2016 with an unprecedented vote of 26-0 and was widely considered to be a “runaway freight train” that was going to pass.
The realignment of legislative priorities in the wake of the presidential election put the Retirement Enhancement and Savings Act (RESA) on the back burner, but it appears to have moved to the front. And on March 14, Rep. Ron Kind, D-Wisconsin, and Rep. Mike Kelly, R-Pennsylvania, introduced a House version of RESA. Read full article…