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.
IRA Opinion Letter Program Temporarily Suspended
The temporary suspension will allow the IRS to update the prototype IRA opinion letter program, issue revised model forms and LRMs, and issue published guidance to reflect recent legislation.
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.
PBGC Issues Interest Rate Assumptions for DB Plans
The PBGC has issued updated interest rate assumptions for benefit payments in terminating single-employer defined benefit (DB) pension plans.
DOL Issues Compliance Release on Cryptocurrencies
The DOL has issued Compliance Assistance Release 2022-01 on the use of cryptocurrencies as plan investments in 401(k) plans.
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.
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