SIFF & ASSOCIATES PLLC for FMR LLC

Retirement RET

S. 2526, the "Retirement Enhancement and Savings Act of 2018," legislation encouraging employers to offer defined contribution plans, to expand access to various retirement savings options, and to permit e-delivery of financial documents; entire bill. General education concerning the interpretation and application of section 3(5) of ERISA and how it impacts employers' ability to join together to form open multiple employer plans (open MEPs) to promote retirement savings.

Contacted: SENATE; HOUSE OF REPRESENTATIVES; Labor, Dept of (DOL); Treasury, Dept of

Bills named: S. 2526 (115th)

Financial Institutions/Investments/Securities FIN

SEC proposed Regulation Best Interest, 83 Fed. Reg. 21574 (May 9, 2018), and Form CRS Relationship Summary, 83 Fed. Reg. 21416 (May 9, 2018). Proposals to dictate the manner of delivery for communications to mutual fund investors, including those in ERISA covered plans. General education regarding amendments made to ERISA section 803 and IRC section 439 under section 2 of H.R. 4997, the "GROW Act," legislation to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to authorize a new composite multiemployer pension plan design and more generally the utility of e-delivery of financial disclosure forms. General education concerning issues faced by financial entities by the lack of coordination between states that allow legal marijuana businesses and federal banking laws that do not account for these state regimes.

Contacted: SENATE; Labor, Dept of (DOL); HOUSE OF REPRESENTATIVES; Treasury, Dept of

Bills named: H.R. 4997 (115th)

Labor Issues/Antitrust/Workplace LBR

General education concerning the application of the Fair Labor Standards Act to the modern financial services industry.

Contacted: Treasury, Dept of; HOUSE OF REPRESENTATIVES; Labor, Dept of (DOL); SENATE