Pension Operations Advisory Content

On September 21, 2023, a judge for the US District Court in the Northern District of Texas issued its decision in the case filed by attorneys general from 25 states against the Department of Labor (DOL). The judge granted DOL's cross motion for summary judgment, refusing the states'...

In November 2022, ICI filed an amicus brief in Matney v. Barrick Gold, urging the Tenth Circuit Court of Appeals to affirm the district court's dismissal of a retirement plan fee case. On September 6, 2023, the Tenth Circuit issued an opinion (attached below) affirming the dismissal...

IRS and Treasury on August 25, 2023, issued Notice 2023-62, which effectively provides for a 2-year delay (until taxable years beginning after December 31, 2025) of the applicability of section 603 of the SECURE 2.0 Act, which requires that catch-up contributions made by certain...

ICI on August 23, 2023, submitted a comment letter (Letter) to the IRS and Treasury addressing SECURE 2.0 Act section 305, which amends the Employee Plans Compliance Resolution System (EPCRS), and IRS Notice 2023-43, which provides interim guidance under section 305.

The US Government Accountability Office (GAO) recently published two reports examining retirement savings in the US, one focused on 403(b) plans and the other focused on retirement account disparities by race and income.

On August 11, 2023, the Department of Labor (DOL) released a new request for information (RFI) on provisions of the SECURE 2.0 Act that impact ERISA's reporting and disclosure requirements. The RFI includes 31 questions designed to solicit public feedback and begin developing a public...

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...