Regulatory roundup

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

PBGC issues technical update related to financial information reporting waiver

The Pension Benefit Guaranty Corporation (PBGC) issued Technical Update 19-1 (4010 Financial Information Reporting Waiver) providing guidance on compliance with the annual financial and actuarial information reporting requirements under Section 4010 of ERISA and part 4010 of PBGC’s regulations. The update waives the requirement (subject to certain conditions) to report member-specific financial information under 29 CFR 4010.9(b)(2).

For more information, click here.

ERISA Advisory Council to hold meeting in November

The Employee Benefits Security Administration of the U.S. Department of Labor (DOL) will hold the 199th meeting of the ERISA Advisory Council November 4-5, 2019. The Council recommendations will focus on the following issues:

  • Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process
  • Permissive Transfers of Uncashed Checks From ERISA Plans to State Unclaimed Property Funds

For more information, click here.