IRS Releases Revised 2021 Publication 590-B
The IRS has issued a revised 2021 Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).
Proposed Lump-Sum Buyout Disclosure Legislation Reintroduced
Senators Patty Murray (D-WA), Tina Smith (D-MN), and Tammy Baldwin (D-WI) reintroduced the Information Needed for Financial Options Risk Mitigation (INFORM) Act of 2022.
Senate Proposal Would Allow Certain Plan Design Expenses from Plan Assets
Senators Jacky Rosen (D-NV) and Tim Scott (R-SC) have introduced S. 4086, the Increasing Small Business Retirement Choices Act.
2023 Mortality Rates and Tables for DB Plans
The IRS has issued Notice 2022-22, containing “mortality improvement rates” and “static mortality tables” to be used in certain liability determinations for defined benefit (DB) pension plans.
DOL Launches Roundtable Discussions on Retirement
The Department of Labor (DOL) has kicked off what is to be a series of roundtable discussions on how to improve retirement security for workers.
IRA Bankruptcy Exemption Increases
Effective April 1, 2022, the maximum aggregate bankruptcy exemption amount for IRAs increased from $1,362,800 to $1,512,350.
Additional 403(b) Plan Document Guidance Released
The IRS has released a revised Section 403(b) Pre-Approved Plans Listing of Required Modifications and Information Package (April 2022).
IRS Announces Applicable Federal Rates for May 2022
The IRS has issued Revenue Ruling 2022-9, which contains the applicable federal rates (AFR) for May 2022.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-16, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
U.S. House Passes Significant Retirement Bill
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
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