Legislative updates

Regulatory and Legislative

Bill Allowing CITs in 403(b) Plans Re-Introduced

Senators Katie Britt (R-AL), Raphael Warnock (D-GA), Bill Cassidy (R-LA), and Gary Peters (D-MI), have introduced S.424, the Retirement Fairness for Charities and Educational Institutions Act.

February 07 2025

Regulatory and Legislative

Washington Pulse: IRS Releases Proposed Mandatory Automatic Enrollment Regulation

The Internal Revenue Service (IRS) has issued a proposed regulation, providing guidance for employers that are required to include an automatic enrollment provision with their 401(k) or 403(b) plan. 

February 06 2025

Regulatory and Legislative

ERISA Insights - IRS Releases Proposed Rule for Catch-Up Contribution Provisions Under SECURE 2.0

The Internal Revenue Service has released proposed catch-up regulations that apply to certain retirement plans as provided by Sections 109, 117, and 603 of the SECURE 2.0 Act of 2022.

January 10 2025

Regulatory and Legislative

ERISA Insights - IRS Releases Proposed Rule for Automatic Enrollment Provisions Under SECURE 2.0

The Internal Revenue Service has released proposed automatic enrollment regulations that apply to certain retirement plans as provided by Sections 101 and 341 of the SECURE 2.0 Act of 2022.

January 10 2025

Regulatory and Legislative

PBGC Premium Filing Deadlines Change for 2025 Plan Years

The Pension Benefit Guaranty Corporation has issued Technical Update 25-1 that provides guidance on the timing of premium payments for plan years beginning in 2025.

January 07 2025

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.

December 30 2024

Regulatory and Legislative

PBGC Updates Tables for Certain 2025 Valuations

The Pension Benefit Guaranty Corporation has released a final rule updating the table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination to reflect valuation dates falling in 2025.

December 19 2024

Regulatory and Legislative

Proposal Restricting Use of Private Placement Life Insurance Introduced

Senate Finance Committee Chair Ron Wyden (D-OR) has released draft legislation titled Protecting Proper Life Insurance from Abuse Act.

December 19 2024

Regulatory and Legislative

Retirement Spotlight - IRS Releases Final Regulations on Tax Withholding Requirements

These regulations address a payor’s obligation to withhold income taxes when those payments or distributions are made to payees outside of the United States.

December 17 2024

Regulatory and Legislative

IRS Releases Interim Guidance on Inadvertent Benefit Overpayments

The Internal Revenue Service recently issued Notice 2024-77, providing interim guidance on the treatment of “inadvertent benefit overpayments” from defined benefit and defined contribution plans as provided by Section 301 of the SECURE 2.0 Act of 2022.

December 02 2024
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