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Washington Perspective

What's New

  • Non-Spouse Inherited IRAs Lose Bankruptcy Protection
    The U.S. Supreme Court, on June 12, 2014, unanimously ruled in Clark v. Rameker that inherited Individual Retirement Accounts (IRAs) do not qualify as "retirement funds," but rather are considered to be "money that can be freely used for current consumption," and therefore are not exempt from a debtor's bankruptcy estate.
  • Regulatory Change Enables In-Plan "Longevity" Annuities
    The Internal Revenue Service and Treasury Department in July 2014 amended Required Minimum Distribution (RMD) rules to permit the expanded use of "longevity" annuities in retirement plans. The use of longevity annuities, typically purchased at retirement with payments deferred until an individual reaches an advanced age (such as 85), is one approach to reduce the risk of outliving retirement plan savings.
  • SEC Adopts Changes to Money Market Fund Regulations
    The Securities and Exchange Commission (SEC) adopted significant changes to the regulation of Money Market Funds (MMFs) on July 23, 2014. The changes are designed to address money market funds' susceptibility to unusual redemptions in times of financial stress like those experienced during the financial crisis of 2008.
  • GASB Issues Exposure Drafts to Revamp Retiree Medical Accounting Standards
    The Governmental Accounting Standards Board (GASB) has begun the process of revamping its accounting standards for Other Post-Employment Benefits (OPEB) to "improve the information reported on OPEB for decision-making and accountability purposes, comparability across governments, and transparency for those who avail themselves to it," as well as to align the OPEB standards with the newly implemented pension accounting standards (GASB Nos. 67 and 68).

About the Washington Perspective

Washington MonumentWelcome! The Washington Perspective provides news and information about the policies and issues that play a part in building retirement security.

Visit the Washington Perspective for updates on pending legislative and regulatory issues and notices on emerging policy initiatives. For information related to existing regulations that govern your plan, please refer to the Plan Rules section of the web site.

We work with Congress, key executive branch officials, and public sector groups to protect and build the retirement security of participants we serve. We bring our expertise in public sector retirement plans to policy makers during debates on retirement plans (401(a) and 457) and retirement health savings initiatives.

Key Legislative Issues

Capitol DomeNews and information on Congressional activity related to retirement, pensions, retiree health care, investments, and related legislation.

Key Regulatory Issues

Treasury buildingNews and information on governmental activity related to regulation of the retirement and investments industries.

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