DOL Promises Final Rule on Lifetime Income Illustrations As Soon As Practicable
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.
PBGC, IRS Issue Guidance Related to Financial Assistance for Multiemployer Plans
The agencies have filled in the gaps for implementing provisions of the American Rescue Plan Act.
DOL Addresses Question About Providing Audio Recordings to ERISA Claimants
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.
IRS Considering Whether Physical Presence Requirement Relief Should Be Permanent
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.
PSNC 2021: Washington Update: Your Regulatory and Legislative Questions Answered
ERISA attorneys and retirement policy experts list and speak on the most asked-about regulations for 2021.
IRS OC List Helps Plan Sponsor Clients Ensure Operational Compliance
An updated page on the IRS website serves as a reminder of requirements in effect and those that will be in effect soon.
IRS Answers Questions About Partial Plan Termination Relief
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.
Missing Participant Guidance Released by DOL
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
IRS Offers Guidance for Safe Harbor Plans on SECURE Act Provisions
A Q&A addresses the auto-enrollment cap and safe harbor notice requirements.
Guidance on Missing Participants Listed on IRS Priority Guidance Plan
Guidance about how to deal with missing participants and uncashed checks has been issued piecemeal over the years.
New Life Expectancy Tables Will Decrease RMDs
The IRS has issued final regulations on mortality tables to be used for calculating required minimum distributions, which reflect longer life expectancies.
PANC 2020: Washington Update
Retirement plan advisers were given ideas to consider and actions to take in response to new legislation, regulation and litigation.
Proxy Voting Rule a Clear Sign of DOL’s Stance
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.
DOL Issues Proposed Rule on Benefit Plan Proxy Voting
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.
DOL Efforts Seem to Heighten Duties Before ESG Can Fly in Retirement Plans
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.
DOL Announces Hearing to Discuss PTE Proposal for Fiduciary Rule
The DOL is proposing a new prohibited transaction class exemption for investment advice fiduciaries.
DOL NPRM Addresses PEP Plan Provider Registrations
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.
IRS Updates Operational Compliance List With 2020 Items
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.
IRS Provides Relief for Participant Elections Required to Be Witnessed
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.
DOL Issues Guidance About Private Equity Investments in DC Plans
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.