Regulatory roundup

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

VCP submission kit on preapproved defined contribution plan adoption failure
The Internal Revenue Service (IRS) has updated its Voluntary Correction Program (VCP) submission kit web page. The page addresses failures to adopt a new preapproved defined contribution plan by the deadline of April 30, 2016.

For more information, click here.

PBGC pilot mediation program now permanent
In January 2019, the Mediation Program of the Pension Benefit Guaranty Corporation (PBGC) became a permanent program. In response to business community comments and concerns, the program offers plan sponsors the opportunity to facilitate resolution of negotiations in three key PBGC program areas: early warning cases, termination liability cases, and fiduciary breach cases.

For more information, click here.

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