dol

GAO Reports on 403(b) Plans

The Government Accountability Office has released a report titled “403(b) Retirement Plans: Department of Labor Should Update Educational Materials to Better Inform Plan Sponsors and Participants”.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

DOL Begins SECURE 2.0 Mandated Review of Pension Risk Transfer Interpretive Bulletin

The Department of Labor has released a paper to initiate consultation with the ERISA Advisory Council as a first step in fulfilling the requirements of Section 321 of the SECURE 2.0 Act titled “Review of Pension Risk Transfer Interpretive Bulletin.”

FuturePlan ERISA Team

Defined Contribution Plan

DOL

SECURE 2.0

Outbreak Period Ends

The National Emergency in response to COVID-19 that began on March 20, 2020, ended on May 11, 2023.

FuturePlan ERISA Team

DOL

IRS

IRS Guidance

PBGC Issues Benefits Payable and Allocation Guidance for Single-Employer Plans

The Pension Benefit Guarantee Corporation has issued a final rule updating regulations regarding benefits payable in terminated single-employer plans and allocation of assets in single-employer plans.

FuturePlan ERISA Team

Defined Benefit Plan

DOL

PBGC Updates Interest Assumptions for Valuing Benefits for Third Quarter 2023

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023.

FuturePlan ERISA Team

Defined Benefit Plan

DOL

Covid-19 National Emergency Ends Today

The National Emergency in response to COVID-19 will end today.

FuturePlan ERISA Team

DOL

Funding Notice Guidance for Certain Multiemployer Pension Plans

The DOL has issued Field Assistance Bulletin 2023-01 to provide annual funding notice requirements for multiemployer pension plans that received special financial assistance.  

FuturePlan ERISA Team

DOL

Third Phase of Form 5500 Changes Released

The third phase of updates to Form 5500, Annual Return/Report of Employee Benefit Plan, was recently released. 

FuturePlan ERISA Team

DOL

IRS

Regulations

DOL Reopens Comment Period on Proposed QPAM Exemption

The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Biden Vetoes Resolution Disapproving DOL ESG Rule

As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

FuturePlan ERISA Team

DOL

Legislative updates

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