Regulatory Updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2021-54, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations. Updates include the corporate bond monthly yield curve, the corresponding spot segment rates used under Internal Revenue Code Section (IRC Sec.) 417(e)(3), and the 24-month average segment rates under IRC Sec. 430(h)(2). IRC Sec. 417 contains definitions and special rules for minimum survivor annuity requirements in DB plans. IRC Sec. 430 addresses minimum funding standards for single-employer DB plans.

Regulatory Updates

DOL Flips Script with ESG Proposal

DOL Flips Script with ESG Proposal

The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

Regulatory Updates

2022 Taxable Wage Base Announced

2022 Taxable Wage Base Announced

The Social Security Administration has announced the 2022 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.