US capitol bldg Slack adoption ofannuities in 401(k) plans has been attributed, in part, toemployers' fears of liability if insurers prove unable to meetannuity contractual obligations.

On Thursday, the Family Savings Act passed out of the U.S. Houseof Representatives by a 240 to 177 vote, with 10 Democrats votingwith Republicans to advance the bill.

The legislation would relax existing regulatory guidance onemployer participation in Multiple Employer Plans by allowing non-relatedemployers to pool workers under one defined contribution plan.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.