IRS Makes Changes to Plan Correction Program
The IRS has released Revenue Procedure (Rev. Proc.) 2021-30, which contains significant updates to the Employee Plans Compliance Resolution System (EPCRS).
Series of Retirement Security Bills Reintroduced
Senators Cory Booker (D-NJ) and Todd Young (R-IN) reintroduced four bills in the Senate this week designed to address retirement security.
IRS Finalizes Postponement Period for Federally Declared Disasters
The average number of natural disasters continues to rise. As a result, Congress and the IRS have tried to keep pace by providing relief for those affected by major disasters and emergencies.
Guidance Issued for Single-Employer DB Funding Rules
The IRS has issued Notice 2021-48, providing guidance about changes to the funding rules for single-employer defined benefit pension plans that were made by ARPA.
Proposed Tax Benefits for Retirement Saving Distributions
Senator Patrick Toomey (R-PA), has re-introduced the Long-Term Care Affordability Act.
Gomez Nominated for EBSA Post
President Biden has nominated Lisa M. Gomez for Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA).
Women’s Retirement Protection Act Re-Introduced
Senator Patty Murray (D-WA) and Representative Lauren Underwood (D-IL) have introduced the Women’s Retirement Protection Act of 2021 in their respective chambers.
Encouraging Americans to Save Act Introduced in Senate
Senate Finance Committee Chair Ron Wyden (D-OR) and six other Democratic Senators have introduced the Encouraging Americans to Save Act (EASA).
DOL Provides FAQs for Lifetime Income Illustrations
The DOL has provided FAQs addressing questions about the timing of implementation of pension benefit statement lifetime income illustrations under the SECURE Act.
IRS Proposes eFiling Requirements for Certain Returns
The IRS has released a pre-publication version of proposed regulations amending rules intended to increase the filing of electronic returns.
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