DOL

The Department of Labor’s (DOL) Employee Benefits Security Administration has announced that it will extend the grace period to obtain new Login.gov credentials for the EFAST2 filing system until December 31, 2023.

The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a request for information(RFI) to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.

The Department of Labor’s (DOL’s) Wage and Hour Division has released a final rule updating the Davis-Bacon and Related Acts Regulations.

Effective July 26, 2023, the prime interest rate increased from 8.25 percent to 8.50 percent.

The Government Accountability Office (GAO) has released a report titled “403(b)
Retirement Plans: Department of Labor Should Update Educational Materials to Better Inform Plan Sponsors and Participants”.

The Department of Labor (DOL) has released a paper to initiate consultation with the ERISA Advisory Council as a first step in fulfilling the requirements of Section 321 of the SECURE 2.0 Act (SECURE 2.0) titled “Review of Pension Risk Transfer Interpretive Bulletin.”

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating regulations regarding benefits payable in terminated single-employer plans and allocation of assets in single-employer plans.

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023.

As announced by President Biden on January 30, 2023, the National Emergency in response to COVID-19 will end today. 

The Department of Labor (DOL) has issued Field Assistance Bulletin 2023-01 to provide annual funding notice requirements for multiemployer pension plans that received special financial assistance from the Pension Benefit Guarantee Corporation under the American Rescue Plan Act.