Government Affairs
ASPPA’s Government Affairs department actively monitors legislative and regulatory developments affecting pension policies and private retirement plans. Government Affairs represents the views of ASPPA members before the Executive Branch (including the federal regulatory agencies) and the U.S. Congress. New legislation, regulations, and legal issues concerning pension policy and the private retirement system are the clear focus of the Government Affairs department.
Government Affairs keeps ASPPA in the forefront of policy and regulation by developing and promoting the organization’s formal positions on current issues. This is accomplished through comment letters and expert testimony on proposed actions facing legislators and regulators.
Government Affairs communicates its activities to ASPPA members through a select group of publications. ASPPA asap provides breaking news on legislative and regulatory developments via e-mail and facsimile. The bimonthly newsletter, The ASPPA Journal, offers technical analysis and insight into legislative and regulatory issues along with information on member activities and conferences.
Government Affairs puts ASPPA face-to-face with lawmakers through ASPPA PAC, the organization’s political action committee. ASPPA PAC supports candidates for federal office who favor improvements in pension policy.
On March 4, 2010, ASPPA filed comments with the IRS providing recommendations on the how the procedures for determination letters, plan remedial amendments and other matters covered by Revenue Procedure 2007-44 could be improved. The letter was filed in anticipation of the issuance of an updated revenue procedure in this area. Comment]
On February 18, 2010, ASPPA filed comments with the IRS suggesting ways in which the Employee Plans Compliance Resolution System (“EPCRS”) could be improved. The letter was in response to a request for comments found in Revenue Procedure 2008-50. Comment]
On February 12, 2010, ASPPA filed comments with the DOL requesting that a self correction component for the late deposit of employee contributions be added to the Voluntary Fiduciary Correction Program. [Comment]