LAS VEGAS – A trade show can be a boon for a stumped writer starved for material. A trade show in Las Vegas can be the mother lode – or a disaster. Maybe it was health reform fatigue earlier this month that drove me to Vegas, where I snuck into the 10th annual ASPPA 401(k) Summit. I was sick and tired of hearing about increased compliance, policy drafted by college dropouts and those aggravating mandates.

So I fled. Certainly a quiet little conference dedicated to one of the federal government’s few shining success stories would offer the perfect getaway. But what did I find waiting for me at Caesars Palace? More crippling compliance, more uninformed policy and more misguided mandates. Stop me if you’ve already heard this, but we’re not the only ones wrestling with reform. Congress has been quietly bickering over 401(k) regulations since last summer, tinkering with fiduciary definitions, auto enrollments and, yes, more small business mandates.

Things have even taken a surreal Clintonian turn with a debate over something as basic – yet critical – as what your definition of advice is? And while senators without accounting degrees (mostly) debate a uniform fiduciary standard, the Democrats are revving up to take another run at their auto IRA bill, which would saddle already bloodied and bruised small businesses with another set of federal mandate shackles.

Now throw into the mix a Deficit Commission Proposal that would eliminate all existing tax exemptions – including employee-paid health – in favor of a flat, tiered system of 8 percent, 14 percent and 23 percent tax brackets for individuals. (Corporations would face a flat 26 percent rate.) So, we’re not alone. While those of you on the life-health side continue to navigate this post-reform minefield, our brother-in-arms in the retirement business face an equally uncertain future.

Speaking of material, we’re be bringing a lot more your way. On March 28, we went live with www.BenefitsPro.com. It is the online destination for all things employee benefits. Whether you’re a benefits broker, a human resource manager or a retirement advisor, we have something for you – from breaking news to community forums to guest bloggers from every corner of the business. Trust me, you will not want to miss this. Besides, you’re the most important part.

Denis Storey Editor dstorey@benefitssellingmag.com

Instant Insights /

Fear and loathing and 401(k)s

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