As tax-reform proposals make their way through Congress, Law360 listed the four proposals that attorneys should pay attention to.

One of the proposals is allowing unrelated companies to join common retirement plans. Ballard Spahr attorney Diane Thompson said, "Currently, if you want to team up with another company and say, 'let's sponsor a 401(k) savings plan,' there has to be a relationship between those companies – they have to have common ownership, or some kind of relationship related to their business [structure], typically ownership."

The other three proposals are protecting closed pension plans, relaxing benefit-distribution requirements, and creating universal savings accounts.

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