Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2021-50, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Retirement Distribution Relief for Federal Disasters
Senators Bill Cassidy and Robert Menendez have introduced legislation that would make permanent certain rules for distributions and loans from retirement plans and IRAs in connection with federally declared disasters.
IRS Makes Changes to Plan Correction Program
The IRS has released Revenue Procedure (Rev. Proc.) 2021-30, which contains significant updates to the Employee Plans Compliance Resolution System (EPCRS).
Series of Retirement Security Bills Reintroduced
Senators Cory Booker (D-NJ) and Todd Young (R-IN) reintroduced four bills in the Senate this week designed to address retirement security.
IRS Finalizes Postponement Period for Federally Declared Disasters
The average number of natural disasters continues to rise. As a result, Congress and the IRS have tried to keep pace by providing relief for those affected by major disasters and emergencies.
Guidance Issued for Single-Employer DB Funding Rules
The IRS has issued Notice 2021-48, providing guidance about changes to the funding rules for single-employer defined benefit pension plans that were made by ARPA.
Proposed Tax Benefits for Retirement Saving Distributions
Senator Patrick Toomey (R-PA), has re-introduced the Long-Term Care Affordability Act.
Gomez Nominated for EBSA Post
President Biden has nominated Lisa M. Gomez for Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA).
Women’s Retirement Protection Act Re-Introduced
Senator Patty Murray (D-WA) and Representative Lauren Underwood (D-IL) have introduced the Women’s Retirement Protection Act of 2021 in their respective chambers.
Encouraging Americans to Save Act Introduced in Senate
Senate Finance Committee Chair Ron Wyden (D-OR) and six other Democratic Senators have introduced the Encouraging Americans to Save Act (EASA).
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