- Industry & Regulatory News
- Industry & Regulatory News
Industry & Regulatory News
Industry & Regulatory News
Plan Sponsors May Be Able to Ignore 8955-SSA Late Filing Letters
The IRS has announced that plan sponsors who timely filed complete Forms 8955-SSA do not need to respond to CP 283-C penalty notices dated prior to September 1, 2023. In an Employee Plans News bulletin, the IRS indicates the CP 283-C was sent to plan sponsors who timely filed their 2022 Forms 8955-SSA due to an IRS system programming issue.
Industry & Regulatory News
DOL Extending Grace Period for EFAST2 Using Login.gov
The Department of Labor’s (DOL) Employee Benefits Security Administration has announced that it will extend the grace period to obtain new Login.gov credentials for the EFAST2 filing system until December 31, 2023.
Industry & Regulatory News
IRS Provides Catch-Up Guidance Under SECURE 2.0
The IRS has issued Notice 2023-62 to address stakeholder concerns regarding implementation of Section 603 of the SECURE 2.0 Act.
Industry & Regulatory News
ABLE MATCH Act Introduced by Senator Casey
Senator Bob Casey (D-PA), with cosponsors Sens. Wyden (D-OR), Klobuchar (D-MN), Sanders (I-VT), and Duckworth (D-IL), introduced the ABLE MATCH (Making Able a Tool to Combat Hardship) Act.
Industry & Regulatory News
PBGC Proposes Changes to Assumptions Used in Certain Valuations
The Pension Benefit Guaranty Corporation (PBGC) has released a proposed rule titled Valuations Assumptions and Methods.
Industry & Regulatory News
Spousal Consent Proposal Re-Introduced
Representative Lauren Underwood (D-IL) and Senator Tammy Baldwin (D-WI) have re-introduced H.R. 5060, the Women's Retirement Protection Act of 2023 in the House and Senate.
Industry & Regulatory News
IRS Issues Yield Cures and Segment Rates for DB Plan Calculations
The IRS has issued Notice 2023-61, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Industry & Regulatory News
IRS to Focus on ESOP Compliance
The IRS indicates in a news release its intent to focus on a range of compliance issues that can be associated with Employee Stock Ownership Plans (ESOPs).
Industry & Regulatory News
PBGC Announces One-Time 4010 Filing Waiver
The Pension Benefit Guaranty Corporation (PBGC) is providing a one-time waiver of the reporting requirement under Section 4010 of ERISA for filers meeting specific criteria.
Industry & Regulatory News
DOL Requests Reporting and Disclosure Information for SECURE 2.0
The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a request for information(RFI) to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.