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.
Pension-Linked Emergency Savings Accounts
The National Emergency in response to COVID-19 that began on March 20, 2020, ended on May 11, 2023.
The Pension Benefit Guarantee Corporation has issued a final rule updating regulations regarding benefits payable in terminated single-employer plans and allocation of assets in single-employer plans.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for Maine severe storm and flooding.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for South Dakota flooding.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 5, 2023, for North Dakota flooding.
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.
The IRS has released a proposed rule aimed at specifying the methodology used to develop the corporate bond yield curve.
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.