regulatory and legislative

Representatives David Schwikert (R-AZ) and Byron Donalds (R-FL) have introduced H.R. 8579, the Retirement Protection Act.

Representatives Bill Huizenga (R-MI) and Blaine Luetkemeyer (R-MO) have introduced HR 8521, the Investor Democracy is Expected (INDEX) Act.

The IRS issued Notice 2022-33 which extends the deadline for amendments to retirement plans and IRAs to adopt provisions enacted under the SECURE Act, the Miners Act, and some provisions under the CARES Act.

The IRS has announced the postponement of certain tax-related deadlines for victims of a water shortage and health impact from unprecedented sargassum seagrass influx on the island of St. Croix, U.S. Virgin Islands.

Senators Debbie Stabenow (D-MI), and John Boozman (R-AR), along with Senators Cory Booker (D-NJ) and John Thune (R-SD), have introduced the “Digital Commodities Consumer Protection Act.”

The Departments of Labor, Health and Human Services and Treasury issued a joint FAQ related to the coverage of contraceptive products as preventive services by group health plans or issuers.

Senator Mike Braun (R-IN) and seven republican co-sponsors have introduced S. 4613, the Maximize Americans’ Retirement Security Act.

Effective July 27, 2022, the Federal prime interest rate increased from 4.75 percent to 5.50 percent.

The Department of Labor has announced a proposed amendment to the Class Prohibited Transaction Exemption 84-14, also known as the Qualified Professional Asset Manager (QPAM) Exemption.

The Office of Management and Budget has received a final rule from the Department of Labor (DOL) titled, “Interpretive Bulletin Relating to the Independence of Employee Benefit Plan Accounts.”