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The information and content contained in this blog are for general informational purposes only, and does not, and is not intended to, constitute legal advice. As always, for specific questions concerning your health or 401(k) plans, please consult your own ERISA attorney or professional advisor.
DOL ISSUES FINAL REGULATIONS ON PRUDENCE AND LOYALTY IN SELECTING 401(K) PLAN INVESTMENTS – ESG FUNDS GET A THUMBS-UP
On November 22, 2022, the U.S. Department of Labor (DOL) released Final Regulations on ERISA’s fiduciary duties of prudence and loyalty as it concerns retirement plan investing, focusing particularly on environmental, social, or governance (ESG) investments. Broadly stated, the new
401(K) CURRENT EVENTS: FOR SECOND CONSECUTIVE YEAR, IRS 2022 REQUIRED AMENDMENTS LIST DOES NOT AFFECT 401(K) PLANS
On November 21, 2022, the IRS released Notice 2022-62, its annual list of required amendments (RA List) for individually designed qualified retirement plans, including 401(k) plans. Notably, for the second consecutive year, the RA List contains no provisions directly applicable
401(k) CURRENT EVENTS: IRS EXPANDS DETERMINATION LETTER PROCESS FOR CERTAIN INDIVIDUALLY DESIGNED 401(K) PLANS
On November 7, 2022, the IRS released Revenue Procedure (Rev. Proc.) 2022-40 which generally updates the determination letter submission process for qualified retirement plans, including 401(k) plans. In particular, among other changes, the program expands the eligibility for requesting determination
IRS ANNOUNCES INCREASE IN THE PCORI FEE
The IRS has announced an increase in the PCORI Fee assessed against health insurance companies and the sponsors of self-insured health plans. This assessment funds the he Patient-Centered Outcomes Research Institute which support clinical effectiveness research. The fee for plan