Congress seems unlikely this week to legislate anything for retirement plans.

Congress seems unlikely this week to legislate anything for retirement plans.

In the 1,547 pages of what might become this week’s appropriations, here’s what so far I see:

555 pages with provisions that affect health care or health plans: division E—the “Health Improvements, Extenders, and Reauthorizations Act”.

That includes additions to, and amendments of, the Employee Retirement Income Security Act of 1974.

Those include new and amended text in ERISA § 408(b)(2), some of which might affect how that prohibited-transaction exemption applies regarding retirement plans.

Only eight amendments of the Internal Revenue Code, none of which refers to a retirement plan (unless a retirement plan engages a pharmacy benefit manager).

An amendment of the Defense Production Act of 1950 would prohibit, and impose penalties on, a covered national security transaction in a prohibited technology.

https://docs.house.gov/billsthisweek/20241216/CR.pdf

The next government-shutdown threat would be March 14, 2025.

All I wanted for Christmas was a technical corrections bill 😟

Maybe in a budget-reconciliation bill, perhaps in December 2025, when many expect Congress to deal with some 2017 tax law changes that otherwise would expire.

Does seem like this particular lame duck session of congress has much desire to do anything, pensions or otherwise and seems content to punt any issues it may have to next year's incoming congress and administration.