At a glance
- Winters, who leads Groom's policy practice, said divided government after the 2026 midterms presents both challenges and opportunities for retirement and health policy.
- Winters named pharmacy benefit manager reform and the No Surprises Act as likely areas for bipartisan cooperation.
- For plan sponsors and the advisors who serve them, the exposure sits in a Roth pay-for.
ERISA legislation is unlikely to move in the lame-duck session, Groom Law principal Brigen Winters said in a Plan Sponsor Council of America article, with Congress facing budget and funding deadlines. Winters, who leads Groom's policy practice, said divided government after the 2026 midterms presents both challenges and opportunities for retirement and health policy. The midterms left Democrats in control of both chambers, ETF Trends reported.
Winters named pharmacy benefit manager reform and the No Surprises Act as likely areas for bipartisan cooperation. "Health will be more front and center," he said, as lawmakers focus on affordability.
For plan sponsors and the advisors who serve them, the exposure sits in a Roth pay-for. Winters cautioned against using retirement policy changes, such as expanded Roth requirements, to offset the costs of unrelated legislative priorities. A Roth measure written as a revenue raiser would reach payroll and employer-matching mechanics that sponsors lock in before a plan year starts.
As Private Wealth Daily previously reported, the Democratic sweep could slow private credit's 401(k) push, which runs through a Labor Department rule still in proposal form.
Reported by the Policy & ERISA desk from Groom Law — Benefits Brief, ETF Trends and Private Wealth Daily archive. Published . Corrections