Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Congress and the Evolving SECURE Act
The Setting Every Community Up for Retirement Enhancement Act, or the SECURE Act, was passed in late 2019. Lawmakers at the time said they weren't done and have since proposed more changes.
With a 414 to 5 vote, the House of Representatives recently approved a second bill — the Securing a Strong Retirement Act of 2022 — that would continue to tweak the rules for contributing to and withdrawing from retirement savings vehicles. Nicknamed SECURE 2.0, the legislation was introduced by Reps. Richard Neal (D-MA) and Kevin Brady (R-TX), the two Congressmen who spearheaded passage of the original SECURE Act. The bill aims to encourage Americans to save more for retirement, in part by making that process easier. Now that SECURE 2.0 has passed the House, it's on its way to the Senate. The most recent iteration, the Enhancing American Retirement Now (EARN) Act, sailed through the Senate Finance Committee on June 22 on a vote of 28 to 0. (Prior coverage: Tax Notes Federal, June 27, 2022, p. 2067.) At the markup hearing on June 22, senators touted various aspects of the more than 70 provisions in the proposal. The text of the Act is available at https://bit.ly/3PjX7rj
'Rise and Shine'
In addition to SECURE 2.0, the Senate Health, Education, Labor, and Pensions Committee approved the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (S. 4353) on June 14. There are plenty of conceptual common denominators in the bills — from penalty-free withdrawals in some situations to expanded credits for small employers — which means that congressional efforts to coordinate and combine them in the coming months are feasible. The common themes in the proposals include incentives that would help taxpayers across income levels, but not everyone agrees that balancing the benefits among lower-income and higher-income taxpayers is appropriate. It's widely expected that a law to enhance retirement savings will pass sometime this year, given the strong bipartisan support and the nearly unanimous backing of the original SECURE Act. Whether the final law that is eventually enacted will be SECURE 2.0, another bill in the Senate that is similar to SECURE 2.0 but has some differences, or a combination of the two, is right now anyone's guess.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.