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Judy Miller

By Judy Miller2/3/2015 • 0 Comments

President Obama’s 2016 budget has been issued, and while parts could expand retirement plan coverage, others are likely to undermine those good intentions.

By Judy Miller12/15/2014 • 0 Comments

Lawmakers have crafted and approved a sweeping bipartisan solution to address the mammoth funding shortfalls of the multiemployer plan system — a solution that is likely to have a long-term impact on defined benefit pension plans for both single and multiemployer arrangements.

By Judy Miller11/17/2014 • 0 Comments

When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different?

By Judy Miller6/26/2014 • 0 Comments

The Senate Finance Committee met June 26 to consider a modified chairman’s mark of revenue raisers to pay for an extension of the highway trust fund through the end of the year. The hearing adjourned with no action, but with the stated intention of reconvening to mark up a proposal early in the week following the July 4 recess. 

By Judy Miller6/3/2013 • 0 Comments

Last week the Congressional Budget Office issued a report on the distribution of major tax expenditures, including the expenditure for “net pension contributions and earnings.” The initial reaction to the report was predictable — headlines that the tax expenditures primarily benefit the “wealthy.” But as Wall Street Journal online columnist James Taranto noted, the CBO report said no such thing.

By Judy Miller5/28/2013 • 0 Comments

On May 23, members of the Senate Finance Committee met for one of 10 private briefings on tax reform options. This briefing was on “economic security” topics, including retirement savings. While no specific recommendations were made, the paper that committee staff prepared for the briefing included proposals that would decimate the private retirement system, including Simpson-Bowles type proposals to “significantly reduce or repeal” the tax incentive for retirement savings and the proposal to convert the current exclusion into a uniform refundable credit.

By Judy Miller2/28/2013 • 2 Comments

If California’s proposed retirement savings program gets through the study stage and is actually implemented, California will have the first automatic payroll deduction IRA program in the nation. Under the program, all non-governmental California employers with five or more employees would be required to make workplace retirement savings available to employees. Workplace retirement savings could be any type of employer-sponsored program, from a DB or DC plan to an automatic payroll-deduction IRA arrangement.