Dear USET/USET SPF Family,
The Department of the Treasury (Treasury) has issued a Dear Tribal Leader Letter announcing a Tribal consultation on the Treasury Tribal Advisory Committee (TTAC), Subcommittee on Parity and Reform’s Project Plan and Report on Tribal Pension Issues (Report). The Report provides background on the unique issues faced by Tribal employers offering retirement benefits for their employees and includes an initial outline of proposed guidance recommendations and proposed legislative changes. Specifically, the Report highlights issues that Tribal employers have raised under the Pension Protection Act of 2006, including related provisions under Section 414(d) of the Internal Revenue Code and Section 3(32) of the Employee Retirement Income Security Act of 1974. The Report proposes interim guidance, legislative proposals, and enforcement recommendations to address these issues.
Details regarding the upcoming Tribal consultation on the TTAC Subcommittee on Parity and Reform’s Report are as follows—
For more information on the Report as well as a list of proposed guidance solutions and Framing Questions for the upcoming consultation, please view the Dear Tribal Leader Letter. The TTAC Subcommittee on Parity and Reform is planning to review and expand the Report based on consultation feedback received. Written comments on the report are due Friday, April 19, 2024 and can be submitted to tribal.consult@treasury.gov.
For more information, please contact Brian Howard, USET SPF Senior Policy Analyst, at bhoward@usetinc.org.
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