dol

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.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

DOL

Additional Final Form 5500 Guidance Issued

The revisions are effective for plan years beginning on or after January 1, 2023.

FuturePlan ERISA Team

DOL

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

Retirement Spotlight – EBSA Proposes VFCP Amendments

The Department of Labor’s Employee Benefits and Security Administration (EBSA) recently released a proposed amendment to the Voluntary Fiduciary Correction Program (VFCP).

FuturePlan ERISA Team

DOL

Retirement Spotlight

Defined Contribution Plan

DOL Extending Comment Period for VFCP Update

The DOL’s EBSA is reopening the comment period for its proposed amendments to the VFCP and amendments to Prohibited Transaction Exemption 2002-51.

FuturePlan ERISA Team

DOL

2023 Inflation Adjustments for Civil Penalties

The PBGC has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices.

FuturePlan ERISA Team

DOL

2023 Inflation Adjustments for Civil Penalties

The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Retirement Spotlight – DOL’s Final ESG Rule Clarifies Duties

In this latest guidance, the DOL amends the “Investment Duties” regulation.

FuturePlan ERISA Team

DOL

Retirement Spotlight

Defined Contribution Plan

Defined Benefit Plan

Fiduciary Issues

Deadline Relief for Florida Hurricane Nicole Victims

The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Nicole in Florida.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

DOL

Legislative updates

PBGC Updates Interest Assumptions for Valuing Benefits

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 first quarter of 2023.

FuturePlan ERISA Team

Defined Benefit Plan

DOL

Federal Prime Interest Rate Increased to 7.50 Percent

Effective December 14, 2022, the federal prime interest rate increased from 7 percent to 7.50 percent.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

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