futureplan erisa team

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.

FuturePlan ERISA Team

DOL

Fiduciary Issues

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.

FuturePlan ERISA Team

Retirement

Employer

Defined Benefit Plan

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.”

FuturePlan ERISA Team

DOL

Fiduciary Issues

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.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

IRS Guidance

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.

FuturePlan ERISA Team

Defined Contribution Plan

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.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

IRS

IRS Guidance

SECURE Act

Washington Pulse

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”.

FuturePlan ERISA Team

COVID-19

Health and Welfare

IRS Guidance

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.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2021-54, which contains updated guidance on factors used in certain DB pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

Retirement

Employer

Defined Benefit Plan

Proposed IRA Restrictions in House Budget Reconciliation Amendment

Proposed House Budget Reconciliation Amendment Includes IRA Restrictions

FuturePlan ERISA Team

Defined Contribution Plan

IRA

Legislative updates

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