IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2021-2022 2nd Quarter guidance plan update, in which it describes guidance projects in the current fiscal year.
Legislation Proposed to Promote Retirement Plan Lifetime Income Options
Legislation to promote retirement plan lifetime income options has been reintroduced by Representatives Donald Norcross (D-NJ) and Tim Walberg (R-MI).
COVID-19 Relief Extended for Another Year
On February 18, 2022, the President once again extended the national emergency until February 28, 2023.
IRS Issues Proposed Regulations for Required Minimum Distributions
The IRS has released proposed regulations relating to required minimum distributions from qualified plans.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2022-9, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
PBGC Updates Selection Criteria for Standard Termination Audits
The PBGC has updated the “What’s New for Employers & Practitioners” page of its website to indicate that the audit selection methodology has been revised.
DOL Issues RFI
The Department of Labor has published a RFI seeking what actions, if any, the department should take to protect retirement savings from risks associated with climate change.
SEC Proposes Requirements to Mitigate Cybersecurity Threats
The Securities and Exchange Commission (SEC) has released a proposed rule “Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies”.
New Guidance Related to Over-the-Counter COVID-19 Tests
Group health plans and health insurance issuers must provide benefits for certain items and services related to testing for the detection and diagnosis of COVID-19.
Legislation Proposed to Permit HSAs for Children
The Child Health Savings Account Act of 2022 would expand HSA contribution eligibility requirements by allowing parents to contribute and deduct up to $3,000 each year to their childrens’ HSAs.
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