regulatory updates

COVID-19 Relief Extended for Another Year

On February 18, 2022, the President once again extended the national emergency until February 28, 2023.

FuturePlan ERISA Team

COVID-19

Health and Welfare

DOL

IRS

IRS Guidance

IRS Issues Proposed Regulations for Required Minimum Distributions

The IRS has released proposed regulations relating to required minimum distributions from qualified plans.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

IRA

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-9, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

Retirement

Employer

Defined Benefit Plan

PBGC Updates Selection Criteria for Standard Termination Audits

The PBGC has updated the “What’s New for Employers & Practitioners” page of its website to indicate that the audit selection methodology has been revised.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL Issues RFI

The Department of Labor has published a RFI seeking what actions, if any, the department should take to protect retirement savings from risks associated with climate change.

FuturePlan ERISA Team

DOL

Defined Benefit Plan

Defined Contribution Plan

SEC Proposes Requirements to Mitigate Cybersecurity Threats

The Securities and Exchange Commission (SEC) has released a proposed rule “Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies”.

FuturePlan ERISA Team

2022 Cumulative List of Changes for Pre-Approved 403(b) Plans

The IRS has issued Notice 2022-8, which contains the 2022 cumulative list of changes in requirements that must be taken into account by drafters of pre-approved 403(b) retirement plan documents for Cycle 2.

FuturePlan ERISA Team

IRS

IRS Guidance

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-7, 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

PBGC’s 2022 Inflation Adjustments for Civil Penalties

The PBGC has published inflation-adjusted penalty amounts for failure to provide certain notices or other material information.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Issues Deadline Relief for Tennessee Storm Victims

The IRS postpones certain tax-related deadlines for Tennessee storm victims.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

HSA

Defined Contribution Plan

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