regulatory updates

Washington Pulse: IRS Releases Guidance on Loan Offset Rollovers

As part of the TCJA Congress provided more time to roll over certain types of plan loan offsets. The IRS has released proposed regulations to align the IRS’s guidance with the statutory rules.

FuturePlan ERISA Team

Washington Pulse

DOL

Defined Benefit Plan

Defined Contribution Plan

IRA

DOL Proxy Voting and Shareholder Rights Proposed Regulations

EBSA publishers proposed regulations intended to govern proxy voting and shareholder rights exercised by fiduciaries of ERISA-governed retirement plans.

FuturePlan ERISA Team

DOL

Fiduciary Issues

Defined Contribution Plan

PEP Registration Guidance In Federal Register

EBSA guidance published in Federal Register on registration requirements for a pooled employer plan, or PEP.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

IRS Seeks More Forms 5500 Information

The IRS has published a notice offering the opportunity to comment on proposed changes to the information the agency collects on Form 5500, Form 5500-SF, and Form 5500-EZ.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

SECURE Act

IRS Issues Multi-Subject SECURE Act Q&A Guidance

The IRS has issued Notice 2020-68, guidance in question-and-answer (Q&A) format on provisions of legislation enacted in December 2019 in the SECURE Act.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

SECURE Act

IRS Expands Circumstances for Extending Discretionary Amendment Deadlines

The IRS has issued Revenue Procedure 2020-40, which makes a minor modification to Revenue Procedures 2016-37 and 2019-39.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

Lifetime Income Disclosures: A New Requirement for Pension Benefit Statements

The SECURE Act requires ERISA-covered plans to disclose an estimated monthly payment that participants could receive in a lifetime income stream.

FuturePlan ERISA Team

DOL

SECURE Act

Washington Pulse

DOL Rule Issued in Response to 2019 Executive Order

The DOL issued a final rule to formalize its policy and requirements for issuing, modifying, withdrawing, and using DOL guidance, and for making guidance available to the public.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Public Hearing on Proposed Investment Advice Prohibited Transaction Exemption Set

The EBSA has announced a September 3 public hearing on the Improving Investment Advice for Workers and Retirees exemption.

FuturePlan ERISA Team

DOL

Fiduciary Issues

IRA

Proposed Regulations Issued on Pooled Plan Provider Registration

The EBSA has issued proposed regulations on registration requirements for entities that will function as "pooled plan providers", or PEPs, for retirement plans.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

SECURE Act

PEP

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