Washington Pulse: IRS Releases Guidance on Loan Offset Rollovers
As part of the TCJA Congress provided more time to roll over certain types of plan loan offsets. The IRS has released proposed regulations to align the IRS’s guidance with the statutory rules.
DOL Proxy Voting and Shareholder Rights Proposed Regulations
EBSA publishers proposed regulations intended to govern proxy voting and shareholder rights exercised by fiduciaries of ERISA-governed retirement plans.
PEP Registration Guidance In Federal Register
EBSA guidance published in Federal Register on registration requirements for a pooled employer plan, or PEP.
IRS Seeks More Forms 5500 Information
The IRS has published a notice offering the opportunity to comment on proposed changes to the information the agency collects on Form 5500, Form 5500-SF, and Form 5500-EZ.
IRS Issues Multi-Subject SECURE Act Q&A Guidance
The IRS has issued Notice 2020-68, guidance in question-and-answer (Q&A) format on provisions of legislation enacted in December 2019 in the SECURE Act.
IRS Expands Circumstances for Extending Discretionary Amendment Deadlines
The IRS has issued Revenue Procedure 2020-40, which makes a minor modification to Revenue Procedures 2016-37 and 2019-39.
Lifetime Income Disclosures: A New Requirement for Pension Benefit Statements
The SECURE Act requires ERISA-covered plans to disclose an estimated monthly payment that participants could receive in a lifetime income stream.
DOL Rule Issued in Response to 2019 Executive Order
The DOL issued a final rule to formalize its policy and requirements for issuing, modifying, withdrawing, and using DOL guidance, and for making guidance available to the public.
Public Hearing on Proposed Investment Advice Prohibited Transaction Exemption Set
The EBSA has announced a September 3 public hearing on the Improving Investment Advice for Workers and Retirees exemption.
Proposed Regulations Issued on Pooled Plan Provider Registration
The EBSA has issued proposed regulations on registration requirements for entities that will function as "pooled plan providers", or PEPs, for retirement plans.
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