News

Industry & Regulatory News

Which Employee Benefit Plans Require Form 5500 Reporting?

You may know that Form 5500 filing is required for your 401(k) plan or your medical insurance, but were you aware that it must be done for other employee benefit plans as well?

March 08 2023

Industry & Regulatory News

Understanding COBRA Qualifying Events and Employer Responsibilities

The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal law that applies to various organizations, including:

March 08 2023

Industry & Regulatory News

Which Dependents are Covered by a Flexible Spending Account (FSA)?

Dependent care FSA funds can be used to cover a variety of child and adult care services.  Dependents who are eligible include natural, adopted, and foster children who have not reached age 13 and family members who cannot care for themselves. All dependents must live with the FSA account holder for more than half the year and be claimed on their federal tax return.

March 08 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for Oklahoma Severe Winter Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 3, 2023, for severe winter storms in Oklahoma, for the incident period of December 21, 2022 – December 25, 2022.

March 08 2023
IRS

Industry & Regulatory News

Resolution Disapproving DOL ESG Rule Passes House

A resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” passed the House in a 216-204 vote.

March 01 2023

Industry & Regulatory News

Su Nominated as Secretary of Labor

President Biden has announced his intent to nominate Julie Su to serve as Secretary of the Department of Labor.

March 01 2023
DOL

Industry & Regulatory News

Hardship Distributions May Be Permitted for South Dakota Severe Winter Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 27, 2023, for severe winter storms and snowstorms in South Dakota, for the incident period of December 12, 2022 – December 25, 2022.

February 28 2023

Industry & Regulatory News

Proposals Supporting ESG in Retirement Plans Introduced

Representative Suzan DelBene (D-WA) and co-sponsors Sean Casten (D-IL), Juan Vargas (D-CA), and Dean Phillips (D-MN) have introduced the Freedom to Invest in a Sustainable Future Act.

February 28 2023

Industry & Regulatory News

IRS Releases Proposed Rule on Use of Forfeitures in Qualified Plans

The IRS has released a proposed rule intending to clarify the use and timing of the allocation of forfeitures in qualified retirement plans.

February 24 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-19, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

February 23 2023