regulatory updates

IRS Postpones Requirement to Use Updated Forms W-4P and W-4R

The IRS has issued a fourth draft of the 2022 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.

FuturePlan ERISA Team

IRS

IRA

2022 Retirement Savings Limitations Released

The IRS has issued Notice 2021-61, which contains the following 2022 retirement savings limitations.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

Deadline Relief for Hurricane Ida Victims in Connecticut

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Connecticut.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

Deadline Relief for Hurricane Ida Victims in Mississippi

The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Mississippi.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

IRS Updates Coronavirus-Related Relief FAQs

The IRS recently updated its coronavirus-related relief for retirement plans and IRAs questions and answers (FAQs) for Sec. 2202 of the CARES Act.

FuturePlan ERISA Team

COVID-19

Defined Contribution Plan

DOL Announces New Temporary Enforcement Policy

The DOL has extended the transitional relief under FAB 2018-02 and provided additional temporary non-enforcement guidance related to specific provisions of PTE 2020-02 in FAB 2021-02.

FuturePlan ERISA Team

DOL

Fiduciary Issues

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2021-60, 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

DOL Flips Script with ESG Proposal

The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

FuturePlan ERISA Team

DOL

Fiduciary Issues

IRS Issues Guidance on Funding Relief for Multiemployer DB Plans

The IRS has released Notice 2021-57, providing guidance for multiemployer defined benefit (DB) plans receiving funding relief under the American Rescue Plan Act of 2021.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

IRS Guidance

2022 Taxable Wage Base Announced

The Social Security Administration has announced the 2022 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.

FuturePlan ERISA Team

Defined Contribution Plan

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