defined benefit plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2023-12, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

Defined Benefit Plan

Deadline Relief for California Severe Winter Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms, flooding, and mudslides in California.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Retirement Spotlight – DOL’s Final ESG Rule Clarifies Duties

In this latest guidance, the DOL amends the “Investment Duties” regulation.

FuturePlan ERISA Team

DOL

Retirement Spotlight

Defined Contribution Plan

Defined Benefit Plan

Fiduciary Issues

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2023-5, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

PBGC Updates Interest Assumptions for Valuing Benefits

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.

FuturePlan ERISA Team

Defined Benefit Plan

DOL

Proposed Regulations to Update Mortality Tables Delayed

Earlier this year, the IRS released proposed regulations to update the mortality tables that are used to calculate minimum required contributions for single-employer defined benefit (DB) pension plans.

FuturePlan ERISA Team

IRS Guidance

Defined Benefit Plan

PBGC Updates Expected Retirement Table for 2023

The new table is effective January 1, 2023.

FuturePlan ERISA Team

Defined Benefit Plan

DOL

Additional Form 5500 Guidance Under SECURE Act at OMB

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.”

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Defined Benefit Plan

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.”

FuturePlan ERISA Team

DOL

Retirement Spotlight

Defined Contribution Plan

Defined Benefit Plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-60, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

Defined Benefit Plan

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