DOL Releases Updated VFCP
The Department of Labor (DOL) has released a proposed amendment to its Voluntary Fiduciary Protection Program (VFCP).
Retirement Spotlight – Department of Labor Changes “Employee vs. Contractor” Rule
The Department of Labor’s Wage and Hour Division has once again released guidance on the definition of “employee.”
Deadline Relief for Illinois Victims of Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storm and flooding in Illinois.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-60, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Announces Applicable Federal Rates for December 2022
The IRS has issued Revenue Ruling 2022-22, which contains the applicable federal rates (AFR) for December 2022.
ESOP Price Protection Payments Bill Introduced in House
Representative Ron Kind (D-WI) and co-sponsor Mike Kelly (R-PA) have introduced HR 9286 to treat certain price protection payments from ESOPs as eligible rollover distributions.
PBGC Issues Comprehensive Premium Filing Instructions for 2023 Plan Year
The Pension Benefit Guaranty Corporation (PBGC) has released the Comprehensive Premium Filing Instructions for 2023 Plan Years.
President to Nominate Danny Werfel as IRS Commissioner
The White House announced President Joe Biden’s intent to nominate Danny Werfel as the next Commissioner of the Internal Revenue Service (IRS).
PBGC Extends Comment Period for Withdrawal Liability Proposed Rule
The PBGC is extending the comment period for a proposed rule that would provide interest rate assumptions that may be used by a plan actuary in determining a withdrawing employer’s liability under a multiemployer plan.
IRS Expands Determination Program for 403(b) Plans
The IRS has issued Revenue Procedure 2022-40, which permits the submission of determination letter applications for 403(b) individually designed plans.
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