Industry & Regulatory News

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.

August 17 2023

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.

August 17 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Illinois

The IRS has announced the postponement of certain tax-related deadlines for victims of Illinois severe storms and flooding.

August 17 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for New Jersey

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 11, 2023, for New Jersey severe storm and flooding, for the incident period of July 14, 2023 – July 15, 2023.

August 14 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Montana

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023, for Montana flooding, for the incident period of April 10, 2023 – April 26, 2023.

August 14 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Mississippi

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023, for Mississippi severe storms, straight-line winds, and tornadoes, for the incident period of June 14, 2023 – June 19, 2023.

August 14 2023

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.

August 14 2023

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.

August 11 2023

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).

August 11 2023

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.

August 11 2023