Retirement Plan Disaster Assistance May Be Available for Hawaii Wildfires
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 10, 2023, for Hawaii Wildfires.
PBGC Announces One-Time 4010 Filing Waiver
The Pension Benefit Guaranty Corporation is providing a one-time waiver of the reporting requirement under Section 4010 of ERISA for filers meeting specific criteria.
DOL Requests Reporting and Disclosure Information for SECURE 2.0
The Department of Labor’s Employee Benefits Security Administration has issued a request for information to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.
IRS to Focus on ESOP Compliance
The IRS indicates in a news release its intent to focus on a range of compliance issues that can be associated with Employee Stock Ownership Plans.
Auto Reenrollment Legislation Reintroduced
Senators Tim Kaine (D-VA) and Bill Cassidy (R-LA), and Representative Kathy Manning (D-NC), have reintroduced the Auto Reenroll Act of 2023.
SEC Proposes Requirements for Use of Data Analytics
The Securities and Exchange Commission has released a proposed rule that would require broker-dealers and investment advisers to take certain steps to address conflicts of interest associated with use of predictive data analytics.
Prime Interest Rate Increased to 8.5 Percent
Effective July 26, 2023, the prime interest rate increased from 8.25 percent to 8.50 percent.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-53, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
GAO Reports on 403(b) Plans
The Government Accountability Office has released a report titled “403(b) Retirement Plans: Department of Labor Should Update Educational Materials to Better Inform Plan Sponsors and Participants”.
Retirement Plan Disaster Assistance May Be Available for New York Severe Storms and Flooding
The Federal Emergency Management Agency issued a disaster declaration on July 22, 2023, for severe storms and flooding in New York.
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