dol

Financial Freedom Act Proposed in House

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

FuturePlan ERISA Team

Legislative updates

DOL

Defined Contribution Plan

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

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

Financial Freedom Act Proposed in Senate

Senator Tommy Tuberville (R-AL) has introduced the Financial Freedom Act.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Legislative updates

U.S. House Passes Significant Retirement Bill

The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.

FuturePlan ERISA Team

Legislative updates

SECURE Act

IRA

Defined Contribution Plan

Defined Benefit Plan

DOL

ESOP

Washington Pulse

Comment Period for Prohibited Transaction Exemption Guidance Extended

The DOL’s Employee Benefit Security Administration has announced the extension of the public comment period for proposed amendments to procedures governing the filing and processing of prohibited transaction exemption applications.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Protecting America’s Retirement Security Act Approved by Committee

The House Committee on Education and Labor approved to release the Protecting America’s Retirement Security Act without amendments to the House floor for consideration.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

DOL

Proposed Rule on Prohibited Transaction Exemption Procedures

The DOL has released a proposal that would supersede the Department’s existing procedure governing applications for exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Defined Benefit Plan

DOL Final Rule on SECURE Act Group of Plan Reporting at OMB

Final regulations entitled, Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500, issued by the Department of Labor’s EBSA, have been received by the federal OMB.

FuturePlan ERISA Team

SECURE Act

Defined Contribution Plan

DOL

DOL Releases Proposed Rule Updating Davis-Bacon Regulations

The Department of Labor’s (DOL’s) Wage and Hour Division has released a proposed rule Updating the Davis-Bacon and Related Acts Regulations.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

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