legislative updates

SEC Proposes Additional Requirements to Protect Consumer Financial Information

The SEC has proposed additional requirements for broker-dealers, investment companies, registered investment advisers and transfer agents.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

PBGC Updates Interest Assumptions for Valuing Benefits for Second Quarter 2023

The PBGC has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2023.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Hardship Distributions May Be Permitted for Tennessee Severe Winter Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 8, 2023, for severe winter storms in Tennessee.

FuturePlan ERISA Team

IRS

Legislative updates

Build Back Better Provisions Resurface in White House Budget Proposal

President Biden’s fiscal year 2024 budget includes proposed retirement account restrictions for certain taxpayers.

FuturePlan ERISA Team

IRS

IRA

Defined Benefit Plan

Legislative updates

Senate Confirms New IRS Commissioner

The United States Senate on Thursday confirmed Danny Werfel, in a 54-42 vote, as the next commissioner of the Internal Revenue Service.

FuturePlan ERISA Team

IRS

Legislative updates

SECURE 2.0 Requires New Plans to Contain Automatic Enrollment Feature

Credible studies have concluded that employers who automatically enroll plan participants into a retirement plan help place them on a lifetime path to meaningful savings.

FuturePlan ERISA Team

SECURE 2.0

Legislative updates

Defined Contribution Plan

Proposals Supporting ESG in Retirement Plans Introduced

Representative Suzan DelBene (D-WA) and co-sponsors Sean Casten (D-IL), Juan Vargas (D-CA), and Dean Phillips (D-MN) have introduced the Freedom to Invest in a Sustainable Future Act.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

DOL

Improved Coverage for Long-Term, Part-Time Employees

The SECURE 2.0 Act has shortened the time necessary to allow part time workers access to 401(k) plans. 

FuturePlan ERISA Team

SECURE 2.0

Legislative updates

Defined Contribution Plan

Military Spouse Retirement Plan Eligibility Credit for Small Employers

The SECURE 2.0 Act gives certain employers a general business tax credit for immediately including military spouses in their defined contribution plan. 

FuturePlan ERISA Team

SECURE 2.0

Legislative updates

Defined Contribution Plan

COVID-19 National Emergency Expected to End May 11

Earlier this week, President Biden announced his intent to extend the national emergency concerning the COVID-19 pandemic through May 11, 2023.

FuturePlan ERISA Team

Legislative updates

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