PLANADVISER Weekend Newsdash
Week ending May 10th, 2019

The Treasury Department’s Office of Tax Policy and the IRS publish a Priority Guidance Plan each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The federal agencies are currently accepting comments for the next Priority Guidance Plan, which will be in effect during the period from July 1, 2019, through June 30, 2020. Find more information on the Priority Guidance Plan below, along with coverage of other recent regulatory developments.

Regulatory News
Treasury, IRS Ask for Comments on 2019-2020 Priority Guidance Plan
The 2019-2020 Priority Guidance Plan will identify guidance projects that the agencies intend to actively work on as priorities during the period from July 1, 2019, through June 30, 2020. Read more >
PBGC Submits Updated Proposal for Determining Whether Plans Covered by ERISA
The agency explains that, in limited situations, employers will be able to use the soon-to-be issued coverage forms to request an opinion letter about whether a plan being developed is likely to receive PBGC coverage. Read more >
Upcoming Impactful Regulations in the Retirement Industry
The latest legislation to affect retirement planning in 2019 and beyond.  Read more >
Unlike SEC’s Approach, New Jersey Fiduciary Regs Have Teeth
The state’s former securities chief says recently issued fiduciary regulations have been crafted in the interest of aggressively tamping down on conflicts of interest in the financial services industry. Read more >
IRS Expands Opportunities for Retirement Plan Sponsors to Self-Correct
The IRS Self Correction Program has been expanded to include certain plan document failures and certain loan failures and a way to self-correct via plan amendments. Read more >
Council Finds Noncompliance With ERISA Fidelity Bond Rules
For this reason, the ERISA Advisory Council is recommending that the Department of Labor relaunch the updated rules it published in Field Assistance Bulletin (FAB) 2008-04. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

The Inside Take: CAPTRUST’s Cammack Acquisition

With the acquisition of Cammack’s $154 billion book of business, CAPTRUST now reports assets in excess of $600 billion; one leader at the firm says the growth is nowhere near finished.

SECURE Act and CARES Act Still Demand Client Diligence

As an example, if a plan sponsor has not yet started tracking part-time employees to see whether they accumulate 500 hours of service in 2021, they should begin doing so immediately.

rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850