IRS Explains Impact of Missed Deadline for Plan Restatements
In the May 23, 2022, issue of Employee Plans News, the IRS explains the applicability of the Employee Plans Compliance Resolution System for pre-approved plans that are not restated by appropriate deadlines.
Senate Proposes Proxy Vote Changes for Index Funds
Senator Dan Sullivan, along with co-sponsors Pat Toomey, Mike Crapo and Chuck Grassley, have introduced S. 4241 the “Investor Democracy is Expected Act” or INDEX Act.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Mental Health Matters Act Proposed in House
Representative Mark DeSaulnier has introduced H.R. 7780, the “Mental Health Matters Act,” which strengthens behavioral health benefits in schools and also amends provisions of ERISA.
Final Form 5500 Revisions Guidance Issued
The DOL’s EBSA, IRS, and the PBGC have released final forms revisions to the Form 5500 and Form 5500-SF.
Proposed: Employee and Retiree Access to Justice Act
Representative Mark DeSaulnier (D-CA) has introduced HR 7740 – the Employee and Retiree Access to Justice Act.
IRS Announces Applicable Federal Rates for June 2022
The IRS issued Revenue Ruling 2022-10, which contains the applicable federal rates (AFR) for June 2022.
IRS Relief for New Mexico Wildfire and Wind Victims
The IRS announced the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico.
IRS Further Extends Temporary Relief from Physical Presence Requirement for Retirement Plan Consents
The IRS has provided additional temporary relief from the physical presence requirements for certain participant elections through December 31, 2022.
Small Business Retirement Proposals Introduced in Senate
Senator John Hickenlooper (D-CO) has introduced two retirement bills in the Senate.
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