regulatory updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-29, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

Defined Benefit Plan

DOL Releases Spring 2022 Regulatory Agenda

The Department of Labor has posted online its upcoming guidance priorities.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

Senate Finance Committee Advances EARN Act

The Senate Finance Committee conducted a hearing today to consider the Enhancing American Retirement Now (EARN) Act.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

Legislative updates

IRS Updates Letter Ruling Procedures for DB Plan Spin-Offs

The IRS has issued Revenue Procedure (Rev. Proc.) 2022-28, which updates Rev. Proc. 2022-3, on whether the IRS will issue letter rulings or determination letters.

FuturePlan ERISA Team

IRS Guidance

Senate Finance Releases Its Version of SECURE 2.0

The Senate Finance Committee has released an outline of its version of proposed retirement reform on the heels of passage of the Rise & Shine Act out of the Senate HELP committee last week.

FuturePlan ERISA Team

Legislative updates

Big Changes May be in Store for the Davis-Bacon Act

The Davis-Bacon Act (DBA) has played a major role in the construction industry for over 90 years.

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

DOL

Starter-K Companion Legislation Introduced in House

Representatives Linda T. Sánchez (D-CA) and Darin LaHood (R-IL) introduced the Starter-K Act, legislation intending to expand access to retirement savings for more Americans.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Auto-Portability Legislation Introduced

Senators Tim Scott (R-SC) and Sherrod Brown (D-OH) have introduced the Advancing Auto Portability Act of 2022.

FuturePlan ERISA Team

Defined Contribution Plan

Legislative updates

Federal Prime Interest Rate Increased to 4.75%

Effective June 15, 2022, the Federal Prime interest rate increased from 4.00% to 4.75%.

FuturePlan ERISA Team

Retirement Spotlight

RISE & SHINE Act Approved by Committee

The Senate HELP Committee unanimously passed out of committee S.4353 the RISE & SHINE Act (previously announced), with two amendments.

FuturePlan ERISA Team

Legislative updates

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