defined contribution plan

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

Proposed Enhanced Disclosures About ESG Investment Practices

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.

FuturePlan ERISA Team

Defined Contribution Plan

Emergency Savings Proposal Introduced

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

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

IRS Explains Impact of Missed Deadline for Plan Restatements

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.

FuturePlan ERISA Team

IRS

Defined Contribution Plan

Senate Proposes Proxy Vote Changes for Index Funds

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.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

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

Proposed: Employee and Retiree Access to Justice Act

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

FuturePlan ERISA Team

Defined Contribution Plan

Defined Benefit Plan

Legislative updates

IRS Relief for New Mexico Wildfire and Wind Victims

The IRS announced the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRA

IRS Further Extends Temporary Relief from Physical Presence Requirement for Retirement Plan Consents

The IRS has provided additional temporary relief from the physical presence requirements for certain participant elections through December 31, 2022.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

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