Regulatory Compliance

At the upcoming 2024 ASPPA Spring National Conference, I look forward to learning from many top industry experts and ERISA attorneys during the conference, as well as receive updates on SECURE 2.0 and developments in Washington D.C. Highlights. To highlight only a few sessions, TPA plan... READ MORE

The effects of the SECURE 2.0 Act cover the gamut from profound and far-reaching to the more mundane yet still important—and that includes reporting about certain retirement plans and saving arrangements.  In FS-2024-18, a fact sheet issued May 2, the IRS reminds businesses that beginning with tax... READ MORE

Disasters can create a sudden need for resources to address the situation at hand.  But some resources are more readily accessible than others—resorting to certain kinds of funds can itself create some hardship.  To help avoid that circumstance and risk having a response to an emergency itself... READ MORE

While sympathizing with the participant-plaintiffs in the case, a federal judge finds no obligation to use “reasonable” life expectancy and interest rates in a pension calculation conversion. Plaintiffs Thomas Reichert, Stuart Buck, and Kenneth Henrich (on behalf of themselves and others similarly... READ MORE

One week after the release of the final retirement security rule, senior officials with the Department of Labor’s Employee Benefits Security Administration (EBSA) defended the rollout of the fiduciary rule while taking a deeper dive to explain some of the key changes.   The DOL on April 23... READ MORE

The Department of Labor (DOL) released the Retirement Security Rule, informally known as the fiduciary rule, to great fanfare on Tuesday—including a press conference and White House ceremony. Now that it’s released, what changes does the final rule make to the proposed rule? Here are eight... READ MORE

The Department of Labor’s (DOL) guidance to permit bankruptcy trustees to use its Abandoned Plans Program has moved off of the OMB dashboard and is back with the department, signaling the review is complete on the long-awaited release. A summary description of the proposal explains that the... READ MORE

For the IRS, fiscal year (FY) 2023 “was a transitional year,” largely due to funding provided under the Inflation Reduction Act of 2022 and application of technology, according to Commissioner of Internal Revenue Danny Werfel. His made his remarks in the agency’s most recent data book, an annual... READ MORE

Momentum is increasing in Congress to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).  In March, Reps. Garret Graves (R-La.) and Abigail Spanberger (D-Va.) called on the House Ways and Means Committee to hold a markup on their bipartisan bill, H.R. 82, the... READ MORE