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The Department of Labor has released a paper to initiate consultation with the ERISA Advisory Council as a first step in fulfilling the requirements of Section 321 of the SECURE 2.0 Act titled “Review of Pension Risk Transfer Interpretive Bulletin.”

The National Emergency in response to COVID-19 that began on March 20, 2020, ended on May 11, 2023.

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.

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 third quarter of 2023.

The National Emergency in response to COVID-19 will end today.

The DOL has issued Field Assistance Bulletin 2023-01 to provide annual funding notice requirements for multiemployer pension plans that received special financial assistance.  

The third phase of updates to Form 5500, Annual Return/Report of Employee Benefit Plan, was recently released. 

The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.

As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

President Biden has announced his intent to nominate Julie Su to serve as Secretary of the Department of Labor.