irs guidance

IRS Extends Remedial Amendment Period for SECURE Act

The IRS issued Notice 2022-33 which extends the deadline for amendments to retirement plans and IRAs to adopt provisions enacted under the SECURE Act, the Miners Act, and some provisions under the CARES Act.

FuturePlan ERISA Team

IRS Guidance

Legislative updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-32, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

IRS Releases Additional Guidance on Special Financial Assistance

The IRS has released Revenue Ruling 2022-13 on the applicability of Internal Revenue Code (IRC) Section 432(b)(7) following a merger involving a multiemployer DB plan that has received special financial assistance.

FuturePlan ERISA Team

IRS Guidance

Defined Benefit Plan

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

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

IRS Issues Proposed MEP Rule

To help expand access to MEPs, the IRS has released proposed regulations, which provide a welcome exception to the unified plan rule.

FuturePlan ERISA Team

IRS

IRS Guidance

Washington Pulse

Defined Contribution Plan

2023 Mortality Rates and Tables for DB Plans

The IRS has issued Notice 2022-22, containing “mortality improvement rates” and “static mortality tables” to be used in certain liability determinations for defined benefit (DB) pension plans.

FuturePlan ERISA Team

Defined Benefit Plan

IRS

IRS Guidance

Additional 403(b) Plan Document Guidance Released

The IRS has released a revised Section 403(b) Pre-Approved Plans Listing of Required Modifications and Information Package (April 2022).

FuturePlan ERISA Team

IRS

IRS Guidance

IRS Announces Applicable Federal Rates for May 2022

The IRS has issued Revenue Ruling 2022-9, which contains the applicable federal rates (AFR) for May 2022.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2022-16, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

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