More retirement-related regulatory news for plan sponsors, including links to detailed information.
IRS updates 2017 revenue procedures
In an Internal Revenue Bulletin, the Internal Revenue Service (IRS) published various revenue procedures, revised for 2017, for issuing letters, rulings, determination letters, and technical advice on specific issues related to employee benefits.
To read the bulletin, click here.
PBGC posts 2017 premium filing instructions
The Comprehensive Premium Filing Instructions for 2017 Plan Years has been approved by Office of Management and Budget (OMB) and is now available on the website of the Pension Benefit Guaranty Corporation (PBGC).
To read the filing instructions, click here.
PBGC issues RFI for approving certain alternative methods for computing withdrawal liability
The PBGC is requesting information from the public on issues arising from arrangements between employers and multiemployer plans involving an alternative “two-pool” withdrawal liability method.
PBGC seeks information from the general public and all interested stakeholders, including multiemployer plan participants and beneficiaries, organizations serving or representing retirees and other such individuals, multiemployer plan sponsors and professional advisors, and contributing employers, unions, and other interested parties, about these arrangements, including the various forms they may take, the terms and conditions that apply to new and existing contributing employers who enter into such arrangements, and the benefits and risks these arrangements may present to multiemployer plans and their participants, employers, the multiemployer pension insurance program, and other stakeholders in the multiemployer system.
For more information, click here.
FAQ update on preapproved plan adopting employers
The IRS has updated a series of frequently asked questions (FAQ) providing guidance to employers adopting preapproved retirement plans.
To learn more, click here.