IRS Announces Applicable Federal Rates for May 2022
The IRS has issued Revenue Ruling 2022-9, which contains the applicable federal rates (AFR) for May 2022.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-16, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
U.S. House Passes Significant Retirement Bill
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
Penalty-Free Distributions for Domestic Abuse Victims Proposed
Senators Catherine Cortez Masto (D-NV) and John Cornyn (R-TX) have introduced the Savings Access for Escaping and Rebuilding Act of 2022 (SAFER Act).
Comment Period for Prohibited Transaction Exemption Guidance Extended
The DOL’s Employee Benefit Security Administration has announced the extension of the public comment period for proposed amendments to procedures governing the filing and processing of prohibited transaction exemption applications.
Protecting America’s Retirement Security Act Approved by Committee
The House Committee on Education and Labor approved to release the Protecting America’s Retirement Security Act without amendments to the House floor for consideration.
Protecting America’s Retirement Security Act Introduced
Representative Lucy McBath (D-GA) and five other Democratic co-sponsors have introduced the Protecting America’s Retirement Security Act in the House of Representatives.
Health Care Equality and Modernization Act Introduced
Representative Peter Sessions introduced the Health Care Equality and Modernization Act of 2022 (the “Act”) in the House of Representatives.
Deadline Relief for Puerto Rico for Severe Storms
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in Puerto Rico.
House Passes Retirement Reform Proposal
The House of Representatives has passed the Securing a Strong Retirement Act of 2022 (which lawmakers are coining SECURE 2.0) by a 414-5 vote.
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