eRISA Update is an electronic current developments service, providing comprehensive summaries of the important developments in the retirmeent plan area.
Below is a description of the latest issue (Issue #81; Winter 2022/2023)
This issue of eRISA Update provides summaries of the following new developments: (1) retirement plan provisions in the Consolidated Appropriations Act, 2023 (“SECURE 2.0"), (2) proposed regulations that would make permanent the exception allowing spousal consent to be made remotely with a notary or plan representative, (3) 2023 covered compensation tables, (4) 2023 procedures for determination letter application procedures and private letter ruling requests and 2023 user fees for such applications and requests, as well as for VCP submissions, (5) the rollout of a determination letter procedure for individually-designed 403(b) plans, (6) final DOL regulations updating fiduciary responsibilities with respect to investments that consider climate change and other ESG factors, as well as with respect to proxy voting and shareholder rights, (7) a proposed self-correction option for correcting delinquent transmittal of participant contributions under the DOL’s Voluntary Fiduciary Correction (VFC) Program, as well as other clarifying changes to VFC, and proposed changes to PTE 2002-51 to eliminate the 3-year limitation and to recognize self corrections under VFC, (8) 2023 civil penalty adjustments from the DOL and the PBGC with respect to certain ERISA civil penalties, and (9) a Sixth Circuit case on the measuring of the statute of limitations on benefit claims where payments start many years after the plan provided an explanation of benefits.
Order information.
To order eRISA Update, click here and follow the instructions to print out an order form. You also may order the latest issue for $125 by completing Part 1 of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100) (secure online fax service) (only if paying by credit card), or (2) mail your order to the TRI Pension Services address shown above (either with check enclosed or credit card information provided on the order form).
