IRS Announces Pre-Examination Compliance Pilot
The IRS is piloting a pre-examination retirement plan compliance program beginning in June 2022.
Senate Committee Releases Retirement Bill Discussion Draft
The RISE & SHINE Act shares some similarities to, and builds upon the Securing a Strong Retirement Act bill that passed the House in March.
IRS Explains Impact of Missed Deadline for Plan Restatements
In the May 23, 2022, issue of Employee Plans News, the IRS explains the applicability of the Employee Plans Compliance Resolution System for pre-approved plans that are not restated by appropriate deadlines.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Final Form 5500 Revisions Guidance Issued
The DOL’s EBSA, IRS, and the PBGC have released final forms revisions to the Form 5500 and Form 5500-SF.
IRS Announces Applicable Federal Rates for June 2022
The IRS issued Revenue Ruling 2022-10, which contains the applicable federal rates (AFR) for June 2022.
IRS Relief for New Mexico Wildfire and Wind Victims
The IRS announced the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.
IRS Further Extends Temporary Relief from Physical Presence Requirement for Retirement Plan Consents
The IRS has provided additional temporary relief from the physical presence requirements for certain participant elections through December 31, 2022.
IRS Proposes Update to Mortality Tables Used for DB Plans
The Department of Treasury and IRS have released proposed regulations to update the mortality tables that are used to calculate minimum required contributions for single-employer defined benefit pension plans.
IRS Issues Proposed MEP Rule
To help expand access to MEPs, the IRS has released proposed regulations, which provide a welcome exception to the unified plan rule.
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