regulatory updates

DOL Issues Investment Advice Fiduciary Class Exemption

The EBSA has issued the long-awaited Prohibited Transaction Exemption providing guidance to investment advisors who counsel retirement and other investors. 

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Fiduciary Issues

IRA

Proposed Changes to HIPAA Privacy Rule Announced

The Office of Civil Rights has announced proposed changes to the HIPAA Privacy Rule. 

FuturePlan ERISA Team

Health and Welfare

IRS Posts Updated DB Plan Yield Curves and Segment Rates

The IRS has posted Notice 2020-87, guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations. 

FuturePlan ERISA Team

Defined Benefit Plan

IRS

Tax-Related Deadline Relief for Puerto Rico Storm Victims

The IRS has provided tax-related deadline relief for victims of the September 13, 2020 storm on the island of Puerto Rico.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

PBGC Seeks Information on Roth Data and Foreign-Source Income

The PBGC has requested from the OMB permission to continue collecting information on retirement plan missing participant accounts.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL Releases Final Rule for Pooled Plan Provider Registration

The DOL has issued final regulations on registering as a pooled plan provider (PPP), which is one of the initial steps that such providers must take before offering PEPs.

FuturePlan ERISA Team

Washington Pulse

DOL

SECURE Act

Defined Contribution Plan

Provisions for 401(k)/403(b) Safe Harbor SECURE Act

The IRS has issued Notice 2020-86, with guidance for implementing provisions of the SECURE Act of 2019.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

SECURE Act

Final Regulations for Offset Retirement Plan Loan Rollovers

The IRS has issued final regulations implementing a provision of the 2017 TCJA permitting an extended period to roll over the proceeds of certain retirement plan loans.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

ACA Insurance Exchanges and State Innovation Waivers

Jointly issued proposed regulations to permit states to leave a state-sponsored insurance exchange, and permit private agents and brokers to conduct enrollments beginning in 2023.

FuturePlan ERISA Team

Health and Welfare

PBGC Publishes Age Table for 2021 Valuations in DB Plans

The PBGC final regulations with an updated age table for determining benefits in single-employer DB pension plans undergoing distress or involuntary termination are available.

FuturePlan ERISA Team

Defined Benefit Plan

PBGC

Pension Benefit Guaranty Corporation

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