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January 16, 2023

Bradford Campbell Comments on SECURE 2.0 and DOL Proposals With Pensions & Investments

In articles with Pensions & Investments, benefits and executive compensation partner Bradford Campbell commented on the SECURE 2.0 package, a group of three retirement-related bills introduced during the last Congress, and the United States Department of Labor’s (DOL) Employee Benefits Security Administration’s proposals that were unveiled in 2022 and could be finalized in 2023.

In “Retirement Legislation Expected To Cool Off After SECURE 2.0,” Campbell said bills that attempt to improve the retirement system moderately have a better chance of passing in Congress. “We’re going to see a number of different bills that run the spectrum from trying to tweak the current system to those that would fundamentally change the current system,” he explained. “I think the reality is the tweaking bills, so to speak, have a much better chance of success.”

In “No Slowdown Expected in Rule-Making for SEC and DOL,” Campbell discussed Lisa M. Gomez, who was sworn in as assistant secretary for employee benefits security prior to the DOL’s proposals being unveiled. He explained that Gomez’s presence could lead to some changes with the prohibited transaction exemption application proposal in particular. “As someone who’s actually been a practicing attorney representing plans in this space for 25 years, she has a perspective that I think is different than her career staff about the importance of exemptions,” he added.

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