Proposed Rule on Prohibited Transaction Exemption Procedures
The DOL has released a proposal that would supersede the Department’s existing procedure governing applications for exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code.
DOL Final Rule on SECURE Act Group of Plan Reporting at OMB
Final regulations entitled, Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500, issued by the Department of Labor’s EBSA, have been received by the federal OMB.
DOL Releases Proposed Rule Updating Davis-Bacon Regulations
The Department of Labor’s (DOL’s) Wage and Hour Division has released a proposed rule Updating the Davis-Bacon and Related Acts Regulations.
IRS Releases Proposed Required Minimum Distribution Regulations
After a two year wait, we have guidance regarding certain changes brought about by the SECURE Act.
Legislation Proposed to Automatically Re-enroll Employees
Bill text has been made available for legislation introduced by Senator Tim Kaine (D-VA) intending to improve participation in employer-sponsored retirement plans.
IRS Issues User Fee Guidance for EAs and ERPAs
The IRS has issued a proposed rule to increase the renewal fee for Enrolled Agents (EA) and Enrolled Retirement Plan Agents (ERPA).
Proposed RMD Regulations Initial Highlights
The Internal Revenue Service has released proposed regulations related to required minimum distributions.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2021-2022 2nd Quarter guidance plan update, in which it describes guidance projects in the current fiscal year.
Legislation Proposed to Promote Retirement Plan Lifetime Income Options
Legislation to promote retirement plan lifetime income options has been reintroduced by Representatives Donald Norcross (D-NJ) and Tim Walberg (R-MI).
PBGC Updates Selection Criteria for Standard Termination Audits
The PBGC has updated the “What’s New for Employers & Practitioners” page of its website to indicate that the audit selection methodology has been revised.
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