DOL Not Giving Up on Fiduciary Rule
Both the DOL and SEC have a September 2019 date for a final action on corresponding fiduciary and best interest rules—could they be collaborating?
Tag: retirement plan regulations
PBGC Asks That More Information Be Added to Reportable Events Filings
The PBGC is proposing in a renewal request that all reportable events filings include controlled group information, company financial statements, and the plan’s actuarial valuation report.
IRS Identifies Retirement Plan Compliance Strategies for 2019
The agency will give greater scrutiny to retirement plan distributions and 403(b) universal availability rules, among other things.
Members of Congress Ask Trump to Protect ESOPs
In a letter, members of Congress accuse the DOL of “regulation through litigation” and ask that clear guidance regarding valuation and other important issues be developed.
IRS Modifies Safe Harbor Explanations for Rollovers
The modifications take into consideration changes related to qualified plan loan offsets and other statutory changes.
PBGC Makes Available 2018 Premium Filing Instructions
The PBGC expanded the examples about how to determine premiums in a year when a plan is involved with a spinoff, merger or consolidation, and it expanded the section about short plan years to provide additional information for plans expecting to distribute assets during the 2018 plan year pursuant to a standard termination.
Trump Executive Order Includes Call to Simplify Retirement Plan Disclosures
In addition to ordering a review of RMD rules and expansion of MEPs, President Donald Trump asked both the Treasury and Labor Departments to review actions that could make retirement plan disclosures easier to understand for participants and less costly to employers.
Pace of EBSA Settlements and Plan Corrections Is Strong
“On the retirement side, again, there is a strong focus on missing participants, and EBSA is diving incredibly deep," says David Levine, principal with Groom Law Group.
IRS Finalizes Rules for Definitions of QMAC and QNEC
In the final regulations, the agency addressed commenters’ concerns that the definitions would preclude them from using forfeiture accounts to fund the contributions.
Missing Inaction
What are the rules for locating missing retirement plan participants and what should plan sponsors do when they’re found?
Considerations for Changing the Interest Crediting Rate in a Cash Balance Plan
In an issue snapshot, the Internal Revenue Service (IRS) discusses when a cash balance plan amendment reduces (or potentially reduces) the interest crediting rate.
2018 PLANSPONSOR National Conference Coverage
A recap of presentations and discussions during the 2018 PLANSPONSOR National Conference.
Social Investing and ERISA Plans: The Context Is Significant
Thomas White, partner at Rimon Law, discusses how plan sponsors should consider ESG investments following the DOL’s latest guidance.
Compensation and Benefit Limits Affected by Short Plan Year
If a short plan year is created when a plan is amended, terminates or is newly adopted, proration of the Internal Revenue Code annual compensation dollar limit and limit on DC plan additions will be needed.
Non-Electing Church Plans Subject to Some Pre-ERISA Requirements
Non-electing church plans are exempt from the Employee Retirement Income Security Act (ERISA) provisions pertaining to participation, coverage, and vesting; however, these plans are subject to the requirements for participation, coverage and vesting that were in effect on September 1, 1974, prior to the enactment of ERISA.
(b)lines Ask the Experts – Dealing With Missing Participants
“I have been reading a lot about missing retirement plan participants lately. If our plan has any, should I be concerned about locating them? If so, what steps should I be taking?”
DOL Issues Temporary Enforcement Policy Following 5th Circuit Decision on Fiduciary Rule
The agency noted that some financial institutions have devoted significant resources to comply with the BIC Exemption and the Principal Transactions Exemption and may prefer to continue to rely upon the new compliance structures.
A Look to Mid-Term Elections and the Effect on Retirement Plans
Attorneys anticipate a big push to get retirement plan-related legislation passed before mid-term elections could have a big impact on Congressional retirement plan agendas.
(b)lines Ask the Experts – Amending Retirement Plans for Final Disability Regulations
“I administer an Employee Retirement Income Security Act (ERISA) 403(b) retirement plan, and our plan provides for early retirement distributions in the event of disability. I was just informed that final disability regulations took effect April 1st, but I know that we did not amend our plan to reflect these new regulations. Should I panic?”
DOL Issues More Guidance Related to ESG Investing in DC Plans
In a new Field Assistance Bulletin, the DOL clarifies how ESG investment considerations should be made under ERISA if ESG policies are included in investment policy statements and when choosing QDIAs.