secure act

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

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.

The temporary suspension will allow the IRS to update the prototype IRA opinion letter program, issue revised model forms and LRMs, and issue published guidance to reflect recent legislation.

After a two year wait, we have guidance regarding certain changes brought about by the SECURE Act.

The Internal Revenue Service has released proposed regulations related to required minimum distributions.

Leadership from the House Committee on Education and Labor and its Subcommittee on Health, Employment, Labor and Pensions have introduced the RISE Act to expand worker access to a secure retirement.

In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.

The DOL’s EBSA, in conjunction with the IRS and PBGC, have released proposed forms revisions modifying requirements for Form 5500, Annual Return/Report of Employee Benefit Plan, reporting.

The IRS has issued its initial 2021-2022 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.