President to Nominate Danny Werfel as IRS Commissioner
The White House announced President Joe Biden’s intent to nominate Danny Werfel as the next Commissioner of the Internal Revenue Service (IRS).
PBGC Extends Comment Period for Withdrawal Liability Proposed Rule
The PBGC is extending the comment period for a proposed rule that would provide interest rate assumptions that may be used by a plan actuary in determining a withdrawing employer’s liability under a multiemployer plan.
IRS Expands Determination Program for 403(b) Plans
The IRS has issued Revenue Procedure 2022-40, which permits the submission of determination letter applications for 403(b) individually designed plans.
IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2022-2023 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
PBGC Proposes Modifications to Form 5500 Schedule R and SB Reporting
The PBGC has submitted to the Office of Management and Budget an information collection request and extension related to Form 5500 series annual reporting requirements.
SEC Re-Proposes Mutual Fund “Hard Close”
The SEC has released a proposed rule titled “Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting.”
SEC Adopts Rules to Enhance Proxy Voting Disclosures
The SEC has finalized rules to amend Form N-PX, Annual Report Of Proxy Voting Record of Registered Management Investment Company.
Federal Prime Interest Rate Increased to 7 Percent
Effective November 2, 2022, the federal prime interest rate increased from 6.25 percent to 7 percent.
PBGC Updates Maximum Guarantee Table For 2023
The PBGC has updated its table titled “Present Value of PBGC Maximum Guarantee” to reflect applicable values for distributions with annuity starting dates during calendar year 2023.
SEC Final Rule on Broker-Dealer Electronic Recordkeeping Requirements Set for Publication in Federal Register
The Securities and Exchange Commission (SEC) is adopting amendments to the recordkeeping rules applicable to broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs).
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