News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-61, which contains updated guidance on defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Retirement Plan Disaster Assistance May Be Available for Mississippi

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023, for Mississippi severe storms, straight-line winds, and tornadoes.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Retirement Plan Disaster Assistance May Be Available for Montana

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 12, 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Retirement Plan Disaster Assistance May Be Available for New Jersey

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 11, 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

DOL Releases Updated Davis-Bacon Regulations

The Department of Labor’s (DOL’s) Wage and Hour Division has released a final rule updating the Davis-Bacon and Related Acts Regulations.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Prevailing Wage

Retirement Plan Disaster Assistance May Be Available for Hawaii Wildfires

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on August 10, 2023, for Hawaii Wildfires.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

IRA

HSA

PBGC Announces One-Time 4010 Filing Waiver

The Pension Benefit Guaranty Corporation is providing a one-time waiver of the reporting requirement under Section 4010 of ERISA for filers meeting specific criteria.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Defined Benefit Plan

DOL Requests Reporting and Disclosure Information for SECURE 2.0

The Department of Labor’s Employee Benefits Security Administration has issued a request for information to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Defined Benefit Plan

SECURE 2.0

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.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

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.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Defined Benefit Plan

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