The PBGC has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices.
The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.
In this latest guidance, the DOL amends the “Investment Duties” regulation.
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Nicole in Florida.
The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the first quarter of 2023.
Effective December 14, 2022, the federal prime interest rate increased from 7 percent to 7.50 percent.
The DOL’s EBSA, the IRS, and the PBGC jointly released the 2022 Form 5500, Annual Return/Report of Employee Benefit Plan, and the 2022 Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan.
The new table is effective January 1, 2023.
The DOL’s final rule titled Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights has been published in the Federal Register.
The OMB has received a final rule from the DOL titled “Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500.”