Regulatory and Legislative
Prime Interest Rate Increased to 8.00 Percent
Effective March 22, 2023, the prime interest rate increased from 7.75 percent to 8.00 percent.
Regulatory and Legislative
IRS Provides Indexing for Employer Shared Responsibility Payments
The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments.
Regulatory and Legislative
DOL Reopens Comment Period on Proposed QPAM Exemption
The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.
Regulatory and Legislative
Prime Interest Rate Increased to 8.00 Percent
Effective March 22, 2023, the prime interest rate increased from 7.75 percent to 8.00 percent.
IRS Provides Indexing for Employer Shared Responsibility Payments
The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments.
DOL Reopens Comment Period on Proposed QPAM Exemption
The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.
Hardship Distributions May Be Permitted for Vermont Severe Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 20, 2023, for severe storm and flooding in Vermont.
Biden Vetoes Resolution Disapproving DOL ESG Rule
As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”
