regulatory updates

Representative Byron Donalds (R-FL) and several Republican co-sponsors have introduced HR 7860, the Financial Freedom Act of 2022.

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

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.

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

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.

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.

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.

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. 

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

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