Retirement Spotlight – Department of Labor Changes “Employee vs. Contractor” Rule
The Department of Labor’s Wage and Hour Division has once again released guidance on the definition of “employee.”
Deadline Relief for Illinois Victims of Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storm and flooding in Illinois.
IRS Announces Applicable Federal Rates for December 2022
The IRS has issued Revenue Ruling 2022-22, which contains the applicable federal rates (AFR) for December 2022.
ESOP Price Protection Payments Bill Introduced in House
Representative Ron Kind (D-WI) and co-sponsor Mike Kelly (R-PA) have introduced HR 9286 to treat certain price protection payments from ESOPs as eligible rollover distributions.
PBGC Extends Comment Period for Withdrawal Liability Proposed Rule
The PBGC is extending the comment period for a proposed rule that would provide interest rate assumptions that may be used by a plan actuary in determining a withdrawing employer’s liability under a multiemployer plan.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2022-2023 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
PBGC Proposes Modifications to Form 5500 Schedule R and SB Reporting
The PBGC has submitted to the Office of Management and Budget an information collection request and extension related to Form 5500 series annual reporting requirements.
SEC Re-Proposes Mutual Fund “Hard Close”
The SEC has released a proposed rule titled “Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting.”
SEC Adopts Rules to Enhance Proxy Voting Disclosures
The SEC has finalized rules to amend Form N-PX, Annual Report Of Proxy Voting Record of Registered Management Investment Company.
Federal Prime Interest Rate Increased to 7 Percent
Effective November 2, 2022, the federal prime interest rate increased from 6.25 percent to 7 percent.
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