News

A Proposed Rule titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager” (QPAM) has left the Office of Management and Budget.

Current Head of Sales Kasey Price Named President of FuturePlan, Effective August 1, 2022

Dresher, PA—July 14, 2022—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare— announced today that Kasey Price will assume the role of President of FuturePlan by Ascensus on Aug. 1, 2022.

The IRS has released Revenue Ruling 2022-13 on the applicability of Internal Revenue Code (IRC) Section 432(b)(7) following a merger involving a multiemployer DB plan that has received special financial assistance.

The PBGC has released a final rule outlining terms for underfunded multiemployer plans seeking special financial assistance (SFA) under the ARP Act of 2021.

The IRS has released the latest version of Publication 1179 (Revenue Procedure 2022-25), General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns.

Congressman Patrick McHenry (R-NC) has released a discussion draft of legislation to modernize financial privacy laws and give consumers more control over how their personal information is collected and utilized.

The IRS has made available a draft 2022 Form 945 Annual Return of Withheld Federal Income Tax.

The IRS has issued Notice 2022-29, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The Department of Labor has posted online its upcoming guidance priorities.

The Senate Finance Committee conducted a hearing today to consider the Enhancing American Retirement Now (EARN) Act.