Default Withholding Rate for Periodic Retirement Plan Distributions
The IRS has issued a pre-publication version of final regulations on the default tax withholding rate to be applied to periodic and annuitized distributions from retirement plans.
House Bankruptcy Bill Would Impact Retirement Plans
H.R. 7370, the Protecting Employees and Retirees in Business Bankruptcies Act of 2020, has been introduced by Rep. Jerrold Nadler (D-NY).
IRS Announces Deadline Relief for Alabama Victims of Hurricane Sally
The IRS has announced an extension of deadlines for completing certain time-sensitive tax-related acts for Alabama victims of Hurricane Sally.
DOL to Clarify Employee or Independent Contractor Status
The DOL has issued a notice of proposed rulemaking to clarify “the definition of ‘employee’ under the FLSA as it relates to independent contractors.”
DOL’s Proposed Rule Solidifies Shareholder’s Rights
On August 31, 2020, the DOL issued a proposed rule to clarify an ERISA fiduciary’s duties related to shareholder rights, including proxy voting on corporate stock.
IRS Extends Tax Filing Deadlines for Oregon Wildfire Victims
IR-2020-215 announces a tax filing and payment deadline extension for certain persons and businesses affected by recent wildfires and straight-line winds Oregon.
Interim Final Rule Published for Lifetime Income Projections
A DOL EBSA interim final rule is published in the Federal Register to guide DC retirement plans that must furnish projections of potential lifetime income streams to participants
Washington Pulse: PEP Model Evolves with DOL Proposed Registration Guidance
The DOL has issued a proposed rule on registration for pooled plan providers (PPPs), who may begin offering pooled employer plans (PEPs) on January 1, 2021.
Senate Vote Fails to Advance Next COVID-19 Aid Package
The Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S.178), did not receive the votes needed to proceed to a final vote on the package.
Senate Vote Expected on Next Coronavirus Aid Package
Senate GOP leadership expected to vote on the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S. 178).
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