News

IRS Updates Operational Compliance List

The IRS recently updated its Operational Compliance List identifying changes in qualification requirements and Internal Revenue Code section 403(b) requirements effective in 2022.

FuturePlan ERISA Team

IRS

DOL Extending Comment Period for VFCP Update

The DOL’s EBSA is reopening the comment period for its proposed amendments to the VFCP and amendments to Prohibited Transaction Exemption 2002-51.

FuturePlan ERISA Team

DOL

SECURE 2.0 Act Changes RMD Rules

On December 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, which included the SECURE 2.0 Act. 

FuturePlan ERISA Team

SECURE 2.0

Legislative updates

IRA

Defined Contribution Plan

Defined Benefit Plan

IRS Announces Issuance Opinion Letters for Pre-Approved DB Plans

The IRS has released Announcement 2023-6, stating that it expects to issue opinion letters for pre-approved defined benefit plans that were filed with the IRS during the third remedial amendment cycle.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Hardship Distributions May Be Permitted for North Dakota Storms

FEMA issued a disaster declaration on February 5, 2023, for severe winter storms, snowstorms, and straight-line winds in North Dakota.

FuturePlan ERISA Team

IRS

Defined Benefit/Cash Balance Plan Key Priorities

Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus. 

FuturePlan ERISA Team

SECURE 2.0

Defined Contribution Plan Key Priorities

Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus. 

FuturePlan ERISA Team

SECURE 2.0

IRA / SEP / SIMPLE Key Priorities

Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus. 

FuturePlan ERISA Team

SECURE 2.0

Federal Prime Interest Rate Increased to 7.75 Percent

Effective February 1, 2022, the federal prime interest rate increased from 7.50 percent to 7.75 percent.

FuturePlan ERISA Team

Fiduciary Issues

COVID-19 National Emergency Expected to End May 11

Earlier this week, President Biden announced his intent to extend the national emergency concerning the COVID-19 pandemic through May 11, 2023.

FuturePlan ERISA Team

Legislative updates

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