IRS to Focus on ESOP Compliance
The IRS indicates in a news release its intent to focus on a range of compliance issues that can be associated with Employee Stock Ownership Plans.
Auto Reenrollment Legislation Reintroduced
Senators Tim Kaine (D-VA) and Bill Cassidy (R-LA), and Representative Kathy Manning (D-NC), have reintroduced the Auto Reenroll Act of 2023.
SEC Proposes Requirements for Use of Data Analytics
The Securities and Exchange Commission has released a proposed rule that would require broker-dealers and investment advisers to take certain steps to address conflicts of interest associated with use of predictive data analytics.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-53, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Retirement Plan Disaster Assistance May Be Available for New York Severe Storms and Flooding
The Federal Emergency Management Agency issued a disaster declaration on July 22, 2023, for severe storms and flooding in New York.
Retirement Plan Disaster Assistance May Be Available for Minnesota Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on July 19, 2023, for severe storms and flooding in Minnesota.
Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on July 19, 2023, for severe storms, straight-line winds, and tornadoes in Oklahoma.
IRS Announces Deadline Relief for Vermont Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Vermont.
IRS Provides Additional RMD Transition Relief Under SECURE, SECURE 2.0
The IRS has issued Notice 2023-54 to provide transition relief for required minimum distributions in connection with the change in required beginning date to age 73 under SECURE 2.0, and guidance for certain specified RMDs for 2023.
PBGC Issues Benefits Payable and Allocation Guidance for Single-Employer Plans
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.
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