U.S. House Passes Significant Retirement Bill
The U.S. House of Representatives passed the Securing a Strong Retirement Act of 2022 (SSRA) by a 414-5 vote on March 29, 2022.
Comment Period for Prohibited Transaction Exemption Guidance Extended
The DOL’s Employee Benefit Security Administration has announced the extension of the public comment period for proposed amendments to procedures governing the filing and processing of prohibited transaction exemption applications.
Protecting America’s Retirement Security Act Approved by Committee
The House Committee on Education and Labor approved to release the Protecting America’s Retirement Security Act without amendments to the House floor for consideration.
Proposed Rule on Prohibited Transaction Exemption Procedures
The DOL has released a proposal that would supersede the Department’s existing procedure governing applications for exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code.
DOL Final Rule on SECURE Act Group of Plan Reporting at OMB
Final regulations entitled, Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500, issued by the Department of Labor’s EBSA, have been received by the federal OMB.
DOL Releases Proposed Rule Updating Davis-Bacon Regulations
The Department of Labor’s (DOL’s) Wage and Hour Division has released a proposed rule Updating the Davis-Bacon and Related Acts Regulations.
DOL Issues Compliance Release on Cryptocurrencies
The DOL has issued Compliance Assistance Release 2022-01 on the use of cryptocurrencies as plan investments in 401(k) plans.
COVID-19 Relief Extended for Another Year
On February 18, 2022, the President once again extended the national emergency until February 28, 2023.
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.
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.
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