President’s Budget Targets Retirement Plans

Over the last few years, the discussion about employee benefits in Washington has been almost exclusively centered on health reform, but for the most part, that battle has already been won and lost. The focus has now shifted toward retirement, focusing on employee readiness, access to plans, plan design, and most unfortunately, a perception of missed tax revenue.

An Active White House

For the first time in his administration, President Obama must navigate a complete Republican majority in both the House and the Senate. Unlike some lame duck Presidents in this situation, the President has indicated through words and action that he intends to press his agenda, with or without the GOP. The President’s agenda in 2015 begins with the Fiscal Year 2016 budget. When Congress and the White House are controlled by different parties, the President’s budget is largely a political statement. Given the significant differences on many matters between Republicans and Democrats, any new bold policy ideas will meet extreme resistance from the GOP-controlled Congress. However, several items in the President’s budget could ultimately survive in separate legislation or as stand-alone measures relating to raising more revenue…

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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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