Pension Content

In the attached letter, ICI joined several other trade organizations in requesting that the Internal Revenue Service (IRS) make permanent the remote notarization relief most recently provided in Notice 2021-40. In that Notice, the IRS announced further extension of the temporary...

The IRS and Treasury Department have released their 2021-2022 Priority Guidance Plan listing their priorities for tax regulations and other administrative guidance through June 2022.

On September 14, 2021, the federal agencies with authority over employer-sponsored benefit plans—the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC)—jointly released proposed revisions to the Form 5500 Annual Return/Report...

The IRS has issued Revenue Procedure 2021-37 and Revenue Procedure 2021-38, updating the procedures for its pre-approved plan programs. Rev. Proc. 2021-37 announces the opening of Cycle 2 for submissions of 403(b) pre-approved plans and modifies the 403(b) pre-approved plan program...

On August 27, the Securities and Exchange Commission issued a request for information and public comment on broker-dealer and investment adviser digital engagement practices (RFI). The RFI, which is summarized below, includes questions about broker-dealer and investment adviser use of...

On August 26, 2021, the US Government Accountability Office (GAO) released a report titled "401(k) Retirement Plans, Many Participants Do Not Understand Fee Information, but DOL Could Take Additional Steps to Help Them." The report responds to a request from Senator Patty Murray...

On August 6, 2021, the IRS posted an announcement on its website pertaining to the Form 5500 filing requirements for retroactively adopted plans under section 201 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act).

The Internal Revenue Service (IRS) recently published Revenue Procedure 2021-30, which modifies and supersedes Rev. Proc. 2019-19, the prior consolidated statement of the correction programs under the Employee Plans Compliance Resolution System (EPCRS). EPCRS permits retirement plan...

On July 26, the Department of Labor (DOL) issued a brief set of frequently asked questions (FAQs) regarding implementation of the SECURE Act's lifetime income illustration requirement. As you may recall, DOL issued an interim final rule (IFR) in August 2020, implementing Section 203...

On July 22, 2021, the Chairman of the Senate Finance Committee, Ron Wyden (D-OR), along with six other Senate Democrats, reintroduced the "Encouraging Americans to Save Act" or EASA. Among other provisions, the bill would reform the Saver's Credit by making it a refundable tax credit...