regulatory updates

Protecting America’s Retirement Security Act Introduced

Representative Lucy McBath (D-GA) and five other Democratic co-sponsors have introduced the Protecting America’s Retirement Security Act in the House of Representatives.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Deadline Relief for Puerto Rico for Severe Storms

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in Puerto Rico.

FuturePlan ERISA Team

IRS

IRS Guidance

House Passes Retirement Reform Proposal

The House of Representatives has passed the Securing a Strong Retirement Act of 2022 (which lawmakers are coining SECURE 2.0) by a 414-5 vote.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Defined Benefit Plan

IRA

IRS Issues Proposed MEP Rule

The IRS has released a proposed rule regarding the “unified plan rule” (also referred to as “one bad apple rule”) for multiple employer plans (MEPs).

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Long-Term Care Affordability Act Introduced

Representative Ann Wagner has introduced the Long-Term Care Affordability Act to allow distributions from retirement accounts for the payment of long-term care insurance coverage.

FuturePlan ERISA Team

Legislative updates

IRA

Defined Contribution Plan

Enhancing Emergency and Retirement Savings Act Introduced

Representative Brad Wenstrup has introduced the Enhancing Emergency and Retirement Savings Act of 2022 to provide flexibility and access for those who experience unexpected emergencies.

FuturePlan ERISA Team

Legislative updates

IRA

Defined Contribution Plan

SEC Proposes ESG Reporting for Publicly Traded Companies

The SEC has issued a proposed rule that would require publicly traded companies to include certain climate-related disclosures in their registration statements and periodic reports.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-14, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Proposed Rule on Prohibited Transaction Exemption Procedures

The DOL has released a proposal that would supersede the Department’s existing procedure governing applications for exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Defined Benefit Plan

DOL Final Rule on SECURE Act Group of Plan Reporting at OMB

Final regulations entitled, Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500, issued by the Department of Labor’s EBSA, have been received by the federal OMB.

FuturePlan ERISA Team

SECURE Act

Defined Contribution Plan

DOL

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