Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits.
The IRS has revealed that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans, or PEPs.
The SECURE Act makes it easier for employers to adopt ADP/ACP safe harbor plan provisions. These plans have proven popular with many employers.
The DOL has issued final regulations on registering as a pooled plan provider (PPP), which is one of the initial steps that such providers must take before offering PEPs.
The IRS has issued Notice 2020-86, with guidance for implementing provisions of the SECURE Act of 2019.
The IRS has issued a ruling describing the status and tax treatment of certain 403(b)(7) custodial accounts belonging to participants or beneficiaries of terminating 403(b) plans.
Richard Neal (D-MA) and Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2020, described as building on major retirement legislation enacted in December 2019.
The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.
IRS Notice 2020-68 provides guidance on the SECURE Act, and on the Bipartisan American Miners Act, which is also part of FCAA.
A DOL EBSA interim final rule is published in the Federal Register to guide DC retirement plans that must furnish projections of potential lifetime income streams to participants