regulatory updates

Pandemic Relief Package Includes Benefit Provisions

Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits. 

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

Health and Welfare

SECURE Act

DOL Proposes Delay for Independent Contractor Regulations

The DOL Wage and Hour Division has proposed a delay of the effective date for final regulations on independent contractor status.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Health and Welfare

IRS Updates FAQs on Tax Credits for COVID-Related Leave

On January 28, 2021, the IRS posted updated FAQs on COVID-19-related employer tax credits for paid leave that is provided by certain businesses.

FuturePlan ERISA Team

COVID-19

Health and Welfare

IRS Releases Final QPLO Regulations

Plan participants have more time to roll over certain plan loan offsets under the Tax Cuts & Jobs Act of 2017 (TCJA). 

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

IRS

IRS Guidance

Public Hearing for Proposed Regulations on Federally Declared Disasters

Published in the Federal Register is an IRS notice of public hearing on proposed regulations for automatic 60-day postponement of certain deadlines following federally declared disasters. 

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

DOL Releases Final PTE on Investment Advice

The DOL addresses how financial organizations or professionals can receive certain compensation that would otherwise violate the prohibited transaction rules. 

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

DOL

Fiduciary Issues

Executive Order Revokes Previous Health Policy Directives

On January 28, 2021, President Biden issued an Executive Order entitled Strengthening Medicaid and the Affordable Care Act. 

FuturePlan ERISA Team

Health and Welfare

Healthcare Reform

2021 Could See More Retirement and Health Legislation

There’s optimism that one or more savings-focused bills could be enacted in 2021. 

Mike Rahn, CISP - ERISA Team

Retirement

Health

Legislation

Legislation Introduced to Aid Struggling Defined Benefit Plans

House Ways and Means Committee Chairman Richard Neal (D-MA) has introduced in the initial days of the 117th Congress the Emergency Pension Plan Relief Act (EPPRA) of 2021. 

FuturePlan ERISA Team

Defined Benefit Plan

Legislative updates

Compatibility of Pre-Approved Plan Documents and PEPs

The IRS has revealed that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans, or PEPs. 

FuturePlan ERISA Team

Defined Contribution Plan

IRS

SECURE Act

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