ERISA News

Industry & Regulatory News

SECURE 2.0 Will Allow a Special Emergency Savings Account Within Certain Qualified Plans

Congress has wrestled with Americans’ lack of emergency savings for years. Numerous proposals have been offered, but no substantial measures have passed. Until now.

July 11 2023

Industry & Regulatory News

Proposal Allowing Annuities as QDIA Re-Introduced

Representatives Donald Norcross (D-NJ) and co-sponsor Tim Walberg (R-MI) have re-introduced the Lifetime Income for Employees Act. H.R. 3942 would allow annuities as a default investment in 401(k) plans.

July 11 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for North Dakota Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 5, 2023, for North Dakota flooding, for the incident period of April 10, 2023 – May 6, 2023.

July 07 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Maine Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for Maine severe storm and flooding, for the incident period of April 30, 2023 – May 1, 2023.

July 07 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for South Dakota Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for South Dakota flooding, for the incident period of April 9, 2023 – May 5, 2023.

July 07 2023

Industry & Regulatory News

PBGC Proposes Modification to Information Collected Under Its Missing Participant Program

The Pension Benefit Guaranty Corporation (PBGC) is requesting from the federal Office of Management and Budget (OMB) the authority to modify its information collection procedures under its missing participants program.

July 06 2023

Industry & Regulatory News

IRS Proposes Rules for Determining Corporate Bond Yield Curve

The IRS has released a proposed rule aimed at specifying the methodology used to develop the corporate bond yield curve.

June 22 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-48, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

June 16 2023

Industry & Regulatory News

PBGC Updates Interest Assumptions for Valuing Benefits for Third Quarter 2023

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023.

June 14 2023

Industry & Regulatory News

Retirement Spotlight: Proposed Regulations Govern Making Participant Elections and Spousal Consents Electronically

The coronavirus pandemic resulted in restrictions on where and how people could meet. These limitations—including remote work requirements—made it harder for some participants to take distributions from employer-sponsored retirement plans.

June 13 2023