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Regulatory and Legislative
ESOP Proposed Rule on Hold
A proposed rule and class exemption issued by the Department of Labor’s Employee Benefits Security Administration providing guidance on ESOP transactions has been withdrawn from publication.
Regulatory and Legislative
EBSA Releases ESOP Guidance Under SECURE 2.0
The Department of Labor’s Employee Benefits Security Administration has issued a proposed rule and class exemption for shares to be acquired by an ESOP pursuant to SECURE 2.0.
Regulatory and Legislative
DOL Issues Guidance on Missing Participant Small Balances
The Department of Labor has released Field Assistance Bulletin 2025-01 providing guidance regarding the treatment of small balances of retirement plan missing participants and beneficiaries.
Regulatory and Legislative
DOL Announces 2025 Inflation Adjustments for Civil Penalties
The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.
Regulatory and Legislative
DOL Final Rule Updating VFCP Has Left OMB
Department of Labor guidance titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program” has left the Office of Management and Budget.
Regulatory and Legislative
Prime Interest Rate Decreased to 7.5 Percent
Effective December 18, 2024, the prime interest rate decreased to 7.50 percent.
Regulatory and Legislative
DOL’s Final Restated Voluntary Fiduciary Correction Program at OMB
The Office of Management and Budget has received a final rule from the Department of Labor titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program”.
Regulatory and Legislative
DOL Announces Start of the Lost and Found Information Collection
The Department of Labor has announced the start of a voluntary information collection to establish and maintain the Retirement Savings Lost and Found database.
Regulatory and Legislative
Prime Interest Rate Decreased to 7.75 Percent
Effective November 8, 2024, the prime interest rate decreased to 7.75 percent.
Regulatory and Legislative
DOL Provides Additional Relief for Participants Impacted by Helene and Milton
The Department of Labor has issued additional guidance and further relief for participants of employee benefit plans affected by Hurricanes Helene and Milton.