Pension Operations Advisory Content

On January 18, 2024, Robinhood Financial LLC settled charges brought by the Massachusetts Securities Division in connection with an August 2023 Massachusetts Supreme Judicial Court decision upholding a Massachusetts rule, finalized in 2020, that imposes a fiduciary duty on broker...

ICI today submitted a Statement for the record to the US House Committee on Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions, in connection with its February 15, 2024 hearing on Protecting American Savers and Retirees from DOL's Regulatory Overreach.

On February 20, 2024, ICI submitted the attached comment letter to the Internal Revenue Service (IRS) in response to Notice 2024-2, the long awaited "grab bag" guidance on various issues related to the SECURE 2.0 Act changes to the Internal Revenue Code (the "Code").

[35620] February 16, 2024 TO: ICI Members Pension Committee Pension Operations Advisory Committee SUBJECTS: Pension Tax RE: DOL Updates and Expands Prohibited Transaction Exemption Procedure Regulation The US Department of Labor (DOL) recently updated the procedures (Procedures)...

On January 18, 2024, the Department of Labor (DOL) released proposed regulations to implement section 120 of the SECURE 2.0 Act, which provides a statutory exemption for certain automatic portability transactions. The statutory exemption allows for the receipt of fees and compensation...

The IRS recently released updated guidance for amending retirement plan documents to reflect law changes, including various changes made by the SECURE 2.0 Act. For pre-approved plans, the IRS updated the Listings of Required Modifications (LRMs) and the Cumulative List of Changes in...

IRS and DOL each recently issued guidance related to pension-linked emergency savings accounts (PLESAs). PLESAs, which were created by § 127 of the SECURE 2.0 Act, are optional short-term savings accounts for non-highly compensated individuals which are established and maintained as...

On January 19, 2024, the Department of Labor (DOL) released a new request for information (RFI) soliciting public input to develop a record as it reviews the effectiveness of existing reporting and disclosure requirements for retirement plans, as required by the SECURE 2.0 Act. The...

On November 27, 2023, IRS and Treasury published proposed rules for the treatment of long-term part-time employees under 401(k) plans, pursuant to the SECURE Act and the SECURE 2.0 Act.

On December 20, 2023, the Internal Revenue Service (IRS) issued Notice 2024-02 (the "Notice"), the long awaited "grab bag" guidance, in Q&A format, on various issues related to the SECURE 2.0 Act changes to the Internal Revenue Code (the "Code"). As a reminder, ICI submitted a letter...