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.
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.
Updated Yield Curves and Segment Rates for DB Plans
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.
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.
Proposed Regulations Govern Making Participant Elections and Spousal Consents Electronically
Responding to numerous requests to make the temporary provisions permanent, the IRS issued proposed regulations.
IRS Posts Additional Instructions for Benefit Plan Determinations
The IRS has released updated Instructions for Form 5307, Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans.
Retirement Plan Disaster Assistance May Be Available for California Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 25, 2023, for a California severe storm and flooding.
Proposal Allowing CITs in 403(b) Plans Passes out of Committee
A bill introduced by Representative Frank Lucas (R-OK) was approved by the House Financial Services Committee with bipartisan support by a vote of 35-12.
403(b) Plan Determination Program Opens June 1
The IRS provided a reminder in the May 24, 2023, edition of Employee Plans News that beginning June 1, 2023.
IRS Provides EPCRS Guidance Related to SECURE 2.0
The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.
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