Pension Content

SEC Issues Proposal on Conflicts of Interest Related to Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers [35390] August 02, 2023 TO: Advertising Compliance Advisory Committee Broker/Dealer Advisory Committee Investment Adviser and Broker-Dealer Standards of...

ICI recently participated in a multi-organization letter (Letter) to IRS and Treasury (attached) requesting transition relief for section 603 of the SECURE 2.0 Act.[1] Section 603 requires that, effective January 1, 2024, catch-up contributions by those making more than $145,000 be...

​​​​​​​On July 14, 2023, the Internal Revenue Service (IRS) issued Notice 2023-54, providing relief (as requested by ICI) with respect to distributions made during 2023 that were characterized as required minimum distributions (RMDs) but are not actually RMDs as a result of changes...

The Internal Revenue Service (IRS) on Thursday, May 25, 2023, published Notice 2023-43 (Notice), which provides guidance with respect to the expansion of the Employee Plans Compliance Resolution System (EPCRS) as required under Section 305 of the SECURE 2.0 Act (Act). The Notice...

ICI participated in a multi-organization letter, described below, to advocate for a delay of the new requirement of the SECURE 2.0 Act that certain catch-up contributions be made as Roth contributions. In addition, we wanted to remind members that in May two letters were sent from the...

The Office of Information and Regulatory Affairs recently released its Spring 2023 Unified Agenda of Regulatory and Deregulatory Actions (Agenda), which includes updated Agency Rule Lists from the Department of Labor (DOL) and the Treasury Department and Internal Revenue Service (IRS)...

On June 9, 2023, ICI submitted the attached letter requesting that the Treasury Department and Internal Revenue Service include guidance on certain issues concerning retirement security on their 2023–2024 Priority Guidance Plan. ICI submitted a separate letter with recommendations...

At ICI's 2023 Leadership Summit, SEC Chair Gensler delivered remarks which focused on fund dilution and liquidity and how it relates to financial stability, outstanding SEC rule proposals related to money market funds and liquidity risk management, hard close, and swing pricing, and...

On April 20, 2023, the Securities and Exchange Commission ("Commission" or SEC) staff issued a third staff bulletin ("Staff Bulletin") providing guidance on the duty of care obligations under Regulation Best Interest ("Reg BI") for broker-dealers and under the fiduciary duty standard...

We recently became aware of a change to Iowa state law that, effective for tax years beginning January 1, 2023 or later, excludes from taxation certain types of retirement income for eligible taxpayers. Previously retirement income was included in net income for Iowa state income tax...