Pension Operations Advisory Content

On March 29, 2022, the US House of Representatives approved, by a vote of 414 to 5, H.R. 2954, the "Securing a Strong Retirement Act of 2022" (or SECURE 2.0). The bill was introduced by House Ways and Means Committee Chairman Richard Neal (D-MA) and ranking member Kevin Brady (R-TX).

On March 30, 2022, the Superior Court of the Commonwealth of Massachusetts issued an order (attached) invaliding the Massachusetts regulation, finalized in 2020, that imposes a fiduciary duty on broker-dealers and agents. The court stayed the order for 30 days to give the...

In a letter to the Treasury Department and IRS, ICI joined several other trade organizations in requesting timing relief related to changes to the required minimum distribution (RMD) rules enacted under the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) of...

As we previously reported, the Department of Labor (DOL) recently proposed amendments to the procedures governing the filing and processing of prohibited transaction exemption applications ("Proposal").

The Department of Labor (DOL) recently finalized amendments to six prohibited transaction exemptions (PTEs) to remove references to credit ratings pursuant to the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).

IRS Announcement 2022-6 indicates that, effective March 14, 2022, and until further notice, the Internal Revenue Service (IRS) will not accept applications for opinion letters on prototype IRAs (traditional, Roth and SIMPLE IRAs), Simplified Employee Pensions (SEPs) (including salary...

On March 10, the Department of Labor (DOL) issued Compliance Assistance Release No. 2022-01, providing guidance for 401(k) plan fiduciaries regarding plan investments in cryptocurrencies and similar types of digital assets.

The Department of Labor (DOL) is proposing amendments to the procedures governing the filing and processing of prohibited transaction exemption applications. The project appeared on DOL's Fall 2021 Regulatory Agenda with the stated goal of improving operation of the prohibited...

The IRS and Treasury have released a long-awaited notice of proposed rulemaking that would amend the regulations governing required minimum distributions (RMDs) from retirement plans and IRAs to reflect changes made by the Setting Every Community Up for Retirement Enhancement Act (the...

The IRS and Treasury have released a long-awaited notice of proposed rulemaking that would amend the regulations governing required minimum distributions (RMDs) from retirement plans and IRAs to reflect changes made by the Setting Every Community Up for Retirement Enhancement Act (the...