Key Legislative Issues

In partnership with clients, ICMA-RC has earned more than 50 national awards since 2008 for public employee education campaigns and initiatives that help investors go green, save responsibly for retirement and reach their financial goals.

On October 20, 2011, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2012. Many of the limitations will change for 2012 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment.

ICMA-RC is proud to participate in National Save for Retirement Week, an effort taking place October 16-22, 2011 in cities and states across the U.S. to encourage employees to achieve their personal retirement goals. ICMA-RC has been a proud supporter of National Save for Retirement Week since its inception in 2006.

ICMA-RC’s new mobile myAccount feature allows retirement plan participants to view their retirement savings account information any where and at any time. Using a smartphone, participants can log into myAccount, where they can view account information.

Representatives Jim McDermott (D-WA), Richard Hanna (R-NY), Earl Blumenauer (D-OR), and Nan Hayworth (R-NY) introduced the Tax Parity for Health Plan Beneficiaries Act (H.R. 2088) in May 2011. A companion bill (S.1171) was introduced in June 2011 by Senators Chuck Schumer (D-NY) and Susan Collins (R-ME) with 13 additional original cosponsors.

The health care reform bill recently passed by the House and Senate (H.R. 3590) does not include provisions to extend tax-free employer-paid coverage to nonspouse or nondependent beneficiaries.

Congressional leaders met late February to discuss differences regarding Obama administration’s comprehensive health care reform bill at a widely publicized bipartisan health care summit.

Legislation that will provide tax parity to non-spouse/non-dependent individuals who qualify for and receive employer-provided health plan benefits passed in the House this week.

ICMA-RC: Legislation Offers HRA Tax Parity, But Limits Use to Two States