SEC Proposes Additional Requirements to Protect Consumer Financial Information
The SEC has proposed additional requirements for broker-dealers, investment companies, registered investment advisers and transfer agents.
Hardship Distributions May Be Permitted for California Severe Winter Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 10, 2023, for severe winter storms, flooding, landslides, and mudslides in California.
PBGC Updates Interest Assumptions for Valuing Benefits for Second Quarter 2023
The PBGC has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2023.
SECURE 2.0 Requires New Plans to Contain Automatic Enrollment Feature
Credible studies have concluded that employers who automatically enroll plan participants into a retirement plan help place them on a lifetime path to meaningful savings.
Hardship Distributions May Be Permitted for South Dakota Severe Storms
FEMA issued a disaster declaration on February 27, 2023, for severe winter storms and snowstorms in South Dakota.
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.
Proposed Rule on Use of Forfeitures in Qualified Plans Released
The IRS has released a proposed rule intending to clarify the use and timing of the allocation of forfeitures in qualified retirement plans.
Improved Coverage for Long-Term, Part-Time Employees
The SECURE 2.0 Act has shortened the time necessary to allow part time workers access to 401(k) plans.
Additional Final Form 5500 Guidance Issued
The revisions are effective for plan years beginning on or after January 1, 2023.
IRS Finalizes Electronic Filing Requirements for Certain Information Returns
The IRS has released final regulations amending rules intended to increase the filing of electronic returns in accordance with the Taxpayer First Act of 2019.
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