Regulatory roundup

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

Pension plan limitations not affected by Tax Cut and Jobs Act
The Internal Revenue Service (IRS) has announced that the Tax Cut and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans detailed in Notice 2017-64. The tax law provides dollar limitations on benefits and contributions under qualified retirement plans, and it requires the U.S. Department of the Treasury to annually adjust these limits for cost-of-living increases. Those adjustments are to be made using procedures that are similar to those used to adjust benefit amounts under the Social Security Act.

For more information, click here.

Approval with modifications on termination of single-employer plans and missing participants requested
The Pension Benefit Guaranty Corporation (PBGC) has issued a notice requesting that the Office of Management and Budget (OMB) approve, with modifications, under the Paperwork Reduction Act a collection of information in PBGC’s regulations on Termination of Single Employer Plans and Missing Participants and implementing forms and instructions.

For more information, click here.

Leave a Reply