Legislative Updates
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Pension Changes from COVID Relief: Multi-Employer Plans
The fifth round of COVID relief, the American Rescue Plan Act of 2021 (ARPA) was signed by President Biden on March 11, 2021. There are several changes in the details of the law that affect pension plan sponsors. This article focuses […]
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Pension Changes from COVID Relief: Single Employer Plans
The fifth round of COVID relief, the American Rescue Plan Act of 2021 (ARPA) was signed by President Biden on March 11, 2021. There are several changes in the details of the law that affect pension plan sponsors. This article focuses […]
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DOL Issues Guidance on Lifetime Income Disclosure for Defined Contribution Plans
If you have a really good memory you might recall that way back at the end of last year Congress actually passed a significant retirement bill called the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”). We […]
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SOA Releases Public Plan Mortality Tables (Pub-2010)
The first mortality tables specifically for public-sector retirement plans were released by the Society of Actuaries (SOA) in early 2019. Prior to 2019, there were no publicly available mortality tables for public sector plans despite the general consensus that mortality […]
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Is it Time to Restate Your Defined Contribution Plan?
Whether your defined contribution plan is a 401(k) plan, a profit-sharing plan, a money purchase pension plan or an employee stock ownership plan, and whether your plan is a mostly “run of the mill” individually designed plan or a plan […]
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Single Employer Defined Benefit Plan CARES Act Guidance Issued by IRS
IRS Notice 2020-61 was issued on August 6, 2020, and provides clarification on the relief the CARES Act provided to single employer defined benefit plans. The CARES Act extended the due date of all 2020 calendar year required pension plan […]
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PBGC Clarifies Rules around Pension Plan Changes Made by CARES Act
On July 20th, the PBGC published an update for how to calculate PBGC premium payments for pension plan sponsors that are taking advantage of the delayed contribution due dates afforded by the CARES Act. Further, it provides relief from unneeded […]
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IRS Issues Guidance for Mid-Year Reduction/Suspension of Safe Harbor Contributions
The IRS has issued Notice 2020-52 which clarifies the requirements for a mid-year amendment to a safe harbor 401(k) or 401(m) plan that reduces or suspends contributions made only on behalf of highly compensated employees (HCEs). The notice also provides […]
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Do Government Pension Plan Sponsors Know Their Risk?
It has been just over a year since the Actuarial Standards Board introduced Actuarial Standard of Practice No. 51 (ASOP 51) which requires actuaries to disclose certain risks to plan sponsors. ASOP 51 directs the actuary to assess and disclose […]
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2021 Inflation-adjusted Limits for HDHPs
The IRS recently issued several advisories about 2021 inflation-adjusted limits for High Deductible Health Plans (HDHPs) paired with Health Savings Accounts (HSAs), non-grandfathered health plans, and ACA employer shared responsibility penalties under IRC §4980H. The purpose of this post is […]
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