Big Changes May be in Store for the Davis-Bacon Act
The Davis-Bacon Act (DBA) has played a major role in the construction industry for over 90 years.
IRS Issues Proposed MEP Rule
To help expand access to MEPs, the IRS has released proposed regulations, which provide a welcome exception to the unified plan rule.
U.S. House Passes Significant Retirement Bill
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
New Retirement Payment Withholding Procedure is (Finally) Final
Tax payers and individuals will have a new process for calculating and electing federal income tax withholding on retirement distributions.
House Passes the Build Back Better Act
On November 19, 2021, the U.S. House of Representatives passed H.R. 5376, the Build Back Better Act (“BBB Act” or “the Act”).
Infrastructure Bill Signed into Law
The Infrastructure Act includes additional pension funding relief, disaster relief changes, and new digital asset reporting requirements.
Form 5500 Changes Proposed
In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.
IRS Makes Changes to Plan Correction Program
The IRS has released Revenue Procedure (Rev. Proc.) 2021-30, which contains significant updates to the Employee Plans Compliance Resolution System (EPCRS).
Department of Labor Releases Cybersecurity Guidance
On April 14, the DOL’s (EBSA) issued—for the first time—guidance on best practices for maintaining cybersecurity.
American Rescue Plan Act Provides Coronavirus Relief
President Biden has signed legislation that funds another round of assistance as the nation copes with the health and economic effects of the coronavirus pandemic.
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