regulatory updates

Senate Committee Releases Retirement Bill Discussion Draft

The RISE & SHINE Act shares some similarities to, and builds upon the Securing a Strong Retirement Act bill that passed the House in March.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

IRS

Legislative updates

Cash Balance Plan

SECURE Act

Proposed Enhanced Disclosures About ESG Investment Practices

The SEC has issued a proposed rule that would add reporting requirements for registered investment advisors, registered investment companies, certain advisers that are exempt from registration, and business development companies.

FuturePlan ERISA Team

Defined Contribution Plan

Emergency Savings Proposal Introduced

Senators Todd Young (R-IN), and Cory Booker (D-NJ) have introduced the Emergency Savings Act of 2022.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

IRS Explains Impact of Missed Deadline for Plan Restatements

In the May 23, 2022, issue of Employee Plans News, the IRS explains the applicability of the Employee Plans Compliance Resolution System for pre-approved plans that are not restated by appropriate deadlines.

FuturePlan ERISA Team

IRS

Defined Contribution Plan

Senate Proposes Proxy Vote Changes for Index Funds

Senator Dan Sullivan, along with co-sponsors Pat Toomey, Mike Crapo and Chuck Grassley, have introduced S. 4241 the “Investor Democracy is Expected Act” or INDEX Act.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Mental Health Matters Act Proposed in House

Representative Mark DeSaulnier has introduced H.R. 7780, the “Mental Health Matters Act,” which strengthens behavioral health benefits in schools and also amends provisions of ERISA. 

FuturePlan ERISA Team

Legislative updates

Final Form 5500 Revisions Guidance Issued

The DOL’s EBSA, IRS, and the PBGC have released final forms revisions to the Form 5500 and Form 5500-SF.

FuturePlan ERISA Team

DOL

IRS

Defined Benefit Plan

Defined Contribution Plan

Proposed: Employee and Retiree Access to Justice Act

Representative Mark DeSaulnier (D-CA) has introduced HR 7740 – the Employee and Retiree Access to Justice Act.

FuturePlan ERISA Team

Defined Contribution Plan

Defined Benefit Plan

Legislative updates

IRS Announces Applicable Federal Rates for June 2022

The IRS issued Revenue Ruling 2022-10, which contains the applicable federal rates (AFR) for June 2022.

FuturePlan ERISA Team

IRS

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