ERISA News

Industry & Regulatory News

Proposal to Encourage Profit Sharing Introduced in House

Congresswoman Bonnie Watson Coleman (D-NJ) has introduced H.R. 2628, the Employee Profit-Sharing Encouragement Act.

April 27 2023

Industry & Regulatory News

Waiver of Early Distribution Tax Proposed in House

Representative George Santos (R-NY) has introduced H.R. 2637, to provide for an exception to the 10-percent additional tax on early distributions from qualified retirement plans capped at a withdrawal amount of $10,000 every five years.

April 27 2023

Industry & Regulatory News

Bill Proposed in House to Allow CITs in 403(b) Plans

Congressman Patrick McHenry (R-NC), Chairman of the House Financial Services Committee has introduced H.R. 2799, the Expanding Access to Capital Act.

April 27 2023

Industry & Regulatory News

DOL Provides Funding Notice Guidance for Certain Multiemployer Pension Plans

The Department of Labor (DOL) has issued Field Assistance Bulletin 2023-01 to provide annual funding notice requirements for multiemployer pension plans that received special financial assistance from the Pension Benefit Guarantee Corporation under the American Rescue Plan Act.

April 26 2023
DOL

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms, Straight-line Winds, and Tornadoes

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 24, 2023, for Oklahoma severe storms, straight-line winds, and tornadoes, for the incident period of April 19, 2023 – April 20, 2023.

April 25 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Oklahoma Severe Storms, Straight-line Winds, and Tornadoes

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Oklahoma. The tax relief postpones various tax filing deadlines that began on April 19, 2023. Affected individuals and households who reside or have a business in McClain and Pottawatomie counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

April 25 2023

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Texas Severe Winter Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 21, 2023, for a severe winter storm in Texas, for the incident period of January 30, 2023 – February 2, 2023.

April 24 2023

Industry & Regulatory News

IRS Announces Cycle 4 Pre-approved Plan Submission Period

The April 20, 2023, publication of Employee Plans News provides details for plan document restatement deadlines.

April 21 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-33, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

April 20 2023

Industry & Regulatory News

IRS Announces Deadline Relief for Indiana Severe Storms, Straight-line Winds and Tornadoes

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Indiana.

April 18 2023
IRS