Even in a gridlocked Congress, retirement issues get no respect, so suggests the InvestmentNews headline: “Retirement agenda set to take a backseat in gridlocked Congress.”
The focus of the article was pension regulations, though it is hard to see anyone taking up the cause of anything related to DC plans or retirement planning policy more generally. Congress’ anticipated inaction did offer one ray of hope.
Allya Wond, executive director of retirement policy for the U.S. Chamber of Commerce was quoted as saying “(t)raditionally, Republicans have been less sympathetic on defined-benefit funding issues.” (read: less likely to let us rationalize a way to further postpone increasing plan contributions so that they might actually meet future liablities). Hopefully, that will extend to public pensions as well.