Deadline Relief for Hurricane Ida Victims in Mississippi
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of Hurricane Ida in Mississippi.
IRS Updates Coronavirus-Related Relief FAQs
The IRS recently updated its coronavirus-related relief for retirement plans and IRAs questions and answers (FAQs) for Sec. 2202 of the CARES Act.
DOL Announces New Temporary Enforcement Policy
The DOL has extended the transitional relief under FAB 2018-02 and provided additional temporary non-enforcement guidance related to specific provisions of PTE 2020-02 in FAB 2021-02.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2021-60, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
DOL Flips Script with ESG Proposal
The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”
IRS Issues Guidance on Funding Relief for Multiemployer DB Plans
The IRS has released Notice 2021-57, providing guidance for multiemployer defined benefit (DB) plans receiving funding relief under the American Rescue Plan Act of 2021.
2022 Taxable Wage Base Announced
The Social Security Administration has announced the 2022 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment (COLA) indices.
Form 5500 Changes Proposed
In September 2021, the DOL, IRS, and Pension Benefit Guaranty Corporation (PBGC), collectively referred to as the “Agencies”, released proposed changes to Form 5500, Annual Return/Report of Employee Benefit Plan.
IRS Provides COBRA Coverage Clarifications
The IRS has issued Notice 2021-58, which clarifies the application of extension under the “Joint Notification of Extensions of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak”.
Proposed Bill Would Create Portable Retirement Accounts
Representative Jim Himes (D-CT) and Senator Mark Warner (D-VA) have announced legislation to establish universal, portable retirement accounts.
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