Regulatory Compliance

Employer plan sponsors and fiduciaries that are subject to the prohibited transaction rules as set forth in ERISA and the Internal Revenue Code (IRC) will want to take note of new procedures for granting administrative transaction exemptions.  The Department of Labor’s Employee Benefits Security... READ MORE

There have been significant changes to the IRS Pre-Approved Defined Contribution Plan Program, and two of the IRS officials involved in the thick of it recently provided a refresher on the program rules and recent developments.  Milo Atlas of the Retirement Plan Forms and Publications Office at... READ MORE

The Treasury Department, the Department of Labor’s Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC) have announced that they will issue a joint request for information (RFI) seeking public input to help them review the effectiveness of existing... READ MORE

On the heels of the recent IRS guidance on pension-linked emergency savings accounts (PLESAs), the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) followed suit on Jan. 17, issuing  additional guidance in the form of FAQs. Included in Section 127 of the SECURE 2.0 Act... READ MORE

Plan professionals may find it useful to know that plan sponsors continue to make participants’ retirement security a priority, and are boosting their work to enhance it.  JP Morgan, in its fifth Defined Contribution Plan Sponsor Survey, which provides the results of an online survey of 788... READ MORE

Almost 20 years ago, the IRS issued proposed regulations for handling Internal Revenue Code Section 415(b) limits when multiple annuity starting dates (MASDs) are involved. While the approach given was simple—basically a straight actuarial adjustment to benefits paid, it led to some absurd results... READ MORE

It’s a big year for the implementation of certain SECURE 2.0 provisions. While many of the items are optional, it represents an excellent opportunity to explain what they mean and their potential impact. “There are two that are the big standouts,” Kevin Gaston said when asked about the provisions... READ MORE

The U.S. retirement system is a success—but we still can do better. That was the message from an expert panel that recently examined the gaps in that system and made suggestions regarding how to fill them.  Pete Swisher, Managing Partner at Group Plan Systems, and Annie Messer, President, Member... READ MORE

The Department of Labor (DOL) announced a final rule on Jan. 9 that it says will help employers and workers better understand when a worker qualifies as an employee and when they may be considered independent contractors. It will take effect on March 11, 2024. The rule provides guidance under the... READ MORE