Regulatory roundup

More retirement-related regulatory news for plan sponsors, including links to detailed information.

Updated mortality improvement rates and static mortality tables for defined benefit plans
The Internal Revenue Service (IRS) released updated mortality improvement rates and static mortality tables for defined benefit pension plans for 2020. Notice 2019-26 sets forth the updated mortality improvement rates and static mortality tables that are used for purposes of determining: 1) the minimum funding requirements under § 430(h)(3) for 2020; and 2) the minimum present value under § 417(e)(3) for distributions with annuity starting dates that occur during stability periods beginning in the 2020 calendar year.

For more information, click here.

Proposed overtime rule published
The Wage and Hour Division of the U.S. Department of Labor (DoL) published a proposed rule on overtime pay in the Federal Register. Public comments should be submitted on or before May 21, 2019. Commenters should transmit comments early to ensure timely receipt prior to the close of the comment period.

For more information, click here.

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