The agency clears up timing questions in a FAQs document and says it realizes the concerns about timing if its final rule differs from its previously published interim final rule.
The agencies have filled in the gaps for implementing provisions of the American Rescue Plan Act.
The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to retirement plans, an attorney tells PLANADVISER.
The agency has again extended relief previously provided from the physical presence requirement for participant elections required to be witnessed by a plan representative or a notary public.
ERISA attorneys and retirement policy experts list and speak on the most asked-about regulations for 2021.
An updated page on the IRS website serves as a reminder of requirements in effect and those that will be in effect soon.
The guidance answers questions about who is an "active participant" and says the relief applies to each plan year which falls inside the relief period.
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
A Q&A addresses the auto-enrollment cap and safe harbor notice requirements.
Guidance about how to deal with missing participants and uncashed checks has been issued piecemeal over the years.
The IRS has issued final regulations on mortality tables to be used for calculating required minimum distributions, which reflect longer life expectancies.
Retirement plan advisers were given ideas to consider and actions to take in response to new legislation, regulation and litigation.
Along with the rule about ESG investing in retirement plans, attorneys say, the DOL is making it clear it doesn't want plan fiduciaries spending time on things it says have no impact on plans.
Provisions of the proposal articulate general duties requiring fiduciaries to vote any proxy where the fiduciary prudently determines that the matter being voted upon would have an economic impact on the plan.
Prior to the issuance of its proposed rule on ESG investing in retirement plans, the DOL sent letters to plan sponsors and CIT providers requesting information about ESG investment selection practices.
The DOL is proposing a new prohibited transaction class exemption for investment advice fiduciaries.
The SECURE Act allows pooled plan providers to start operating pooled employer plans beginning on January 1, 2021, but providers must register before operations can begin.
The list, updated with provisions of the SECURE Act, identifies matters that may involve either mandatory or discretionary plan amendments depending on the particular plan.
Notice 2020-42 provides temporary relief from the physical presence requirement for any participant election witnessed by a notary public in a state that permits remote notarization or witnessed by a plan representative using certain safeguards.
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.