ERISA News

Industry & Regulatory News

Biden Vetoes Resolution Disapproving DOL ESG Rule

As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

March 21 2023

Industry & Regulatory News

IRS Announces Deadline Relief for California Severe Storms, Flooding and Landslides

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in California.

March 20 2023

Industry & Regulatory News

IRS Posts Wellness Expense Reimbursement FAQs

The IRS has posted a series of frequently asked questions addressing whether certain costs related to nutrition, wellness, and general health are medical expenses under Internal Revenue Code Section 213 that may be paid or reimbursed under a health savings account, health flexible spending arrangement, Archer medical savings account, or health reimbursement arrangement.

March 17 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for New Hampshire Severe Storm and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and flooding in New Hampshire, for the incident period of December 22, 2022, to December 25, 2022.

March 16 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for New York Severe Winter Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and snowstorm in New York, for the incident period of December 23, 2022, to December 28, 2022.

March 16 2023

Industry & Regulatory News

IRS Announces Applicable Federal Rates for April 2023

The IRS has issued Revenue Ruling 2023-06, which contains the applicable federal rates (AFR) for April 2023.

March 16 2023

Industry & Regulatory News

SEC Proposes Additional Requirements to Protect Consumer Financial Information

The Securities and Exchange Commission has proposed additional requirements for broker-dealers, investment companies, registered investment advisers and transfer agents (“covered institutions”) aimed at further protecting the privacy of consumer financial information.

March 16 2023

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The IRS has issued Notice 2023-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

March 15 2023

Industry & Regulatory News

SEC Releases Cybersecurity Proposed Rule

The Securities and Exchange Commission (SEC) has issued a proposed rule to address cybersecurity risks.

March 15 2023

Industry & Regulatory News

Hardship Distributions May Be Permitted for California Severe Winter Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 10, 2023, for severe winter storms, flooding, landslides, and mudslides in California, for the incident period beginning March 9, 2023.

March 14 2023