Pension Operations Advisory Content

As we previously reported, on April 25, 2024, the US Department of Labor published a final version of its regulatory package on fiduciary investment advice.

The US Government Accountability Office recently published a report (Report) focused on guidance for Target Date Funds offered as investment options in 401(k) plans.

IRS recently released Fact Sheet 2024-19, which provides guidance (in the form of FAQs) under section 331 of the SECURE 2.0 Act on disaster relief distributions from retirement plans and IRAs, and for retirement plan loans, for individuals impacted by federally declared major...

On May 17, 2024, the Department of Labor (DOL) published interim final rules and a related amendment to Prohibited Transaction Exemption (PTE) 2006-06, amending DOL's Abandoned Plan Program. The amendments finalize proposed amendments issued in 2012.

On May 22, 2024, ICI submitted the attached letter the Department of Labor (DOL), the Treasury Department, and the Pension Benefit Guaranty Corporation (PBGC) (collectively, the "Agencies") in response to a joint agency request for information (RFI) issued in January.

On April 23, 2024, the Department of Labor (DOL) released a final version of its regulatory package on fiduciary investment advice ("Final Package"). The Final Package includes an amendment to the regulation defining who is a "fiduciary" under section 3(21) of ERISA and section 4975(e...

On April 16, 2024, the Department of Labor (DOL) published a proposed Information Collection Request (ICR)[1] proposing to collect information from plan administrators voluntarily in order to establish the Retirement Savings Lost and Found online searchable database as directed under...

On April 16, 2024, the Internal Revenue Service (IRS) issued Notice 2024-35, extending IRS's existing relief for missed required minimum distributions related to IRS's interpretation of changes made by the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) of...

The US Department of Labor (DOL) on April 2, 2024, issued Final Amendments to the QPAM Class Exemption, PTE 84-14—the final amendments were published in the Federal Register the following day. DOL also prepared a fact sheet describing the amendments. The QPAM Exemption is a...

On April 8, 2024, a group of ICI staff participated in a telephone meeting with representatives from the White House's Office of Management and Budget (OMB) and the Department of Labor (DOL) to discuss DOL's fiduciary investment advice package.