Retirement
With Americans living longer, healthier, and more active lives, retirement planning and saving are more important than ever. Through employer-sponsored retirement plans, businesses can provide benefits to help support the long-term financial security of their employees.
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Our Work
The U.S. Chamber works to make it easier for employers to provide retirement plans and financial wellness programs for their employees. Working closely with leaders on Capitol Hill and key federal agencies, we advocate for legislation and regulations that ease administrative burdens and promote innovation in plans and services.
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Internal Revenue Service Attn: CC:PA:LPD:PR (Notice 2021-03) Room 5203 P.O. Box 7604 Ben Franklin Station Washington, DC 20044
The Honorable Gordon Hartogensis Director Pension Benefit Guaranty Corporation 1200 K St NW Washington, DC 20005
The latest in multiemployer policy.
Sometimes, the best solution is to give businesses the tools they need to help themselves.
The Honorable Charles E. Schumer The Honorable Mitch McConnell Senate Majority Leader Senate Minority Leader
"The U.S. Chamber of Commerce supports Chairman Bobby Scott’s introduction of the Emergency Pension Plan Relief Act of 2021, which aims to protect workers’ and retirees’ pensions and the employers that contribute to them. Without a solution to the multiemployer pension funding crisis, pensions and jobs will be lost as employers and the Pension Benefit Guaranty Corporation face bankruptcy. Furthermore, without a legislative fix, employers that sponsor single-employer plans will face difficulties emerging from the economic damage of the COVID-19 pandemic which significantly increased pension contributions because of lower interest rates, a volatile market, and the decimation of certain industries."
This Coalition letter was sent to Subcommittee on Social Security, Pensions, and Family Policy Chairman Rob Portman and Ranking Member Sherrod Brown, on Single-Employer Pension Funding Stabilization Relief.
Although short in length, Section 3608 of the CARES Act is a powerful tool for employers that sponsor defined benefit pension plans. Congress recognized that in these uncertain times, employers were facing a dilemma: make pension contributions (for obligations that won’t be due in years) or make payroll and other short term costs.
Edward KillenActing CommissionerTax Exempt and Governmental Entities Division999 N. Capitol Street, NWWashington, DC 20224 Carol WeiserBenefits Tax CounselU.S. Department of the Treasury1500 Pennsylvania Avenue, NWWashington, DC 20220 Stephen TackneyDeputy Associate Chief CounselInternal Revenue Service1111 Constitution Avenue, NWWashington, DC 20224 RE: Notice 2020- 42, Remote Notarization
Office of Regulatiosn and Interpretations,Employee Benefit Security AdministrationRoom N-5655U.S. Department of Labor200 Constitution Avenue NWWashington, DC 20201Re: Registration Requirements for Pooled Plan Providers, RIN 1210-AB94
