SAL TRIPODI - TRI Pension Services
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Pension News - What's New in 2022?

The following list tracks important guidance that are released during 2022. Except where noted, these items are summarized in detail, with appropriate commentary, in our quarterly newsletter, eRISA Update. See our Newsletters page to sign up for eRISA Update.

Last Updated: January 9, 2023

Legislative Developments

  • None

Treasury Regulations

IRS Guidance

  • 2022 annual update of general procedures for obtaining Employee Plans private letter rulings, determination letters and opinion letters, and setting user fees for these rulings and letters as well VCP submissions [Citation: Rev. Proc. 2022-4, 2022-1 I.R.B. (January 3, 2022)]
    Text available at https://www.irs.gov/pub/irs-irbs/irb22-01.pdf#page=164
  • IRS issues 2022 covered compensation table [Citation: Rev. Rul. 2022-2, 2022-4 I.R.B. (January 24, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/rr-22-02.pdf
  • IRS revises calculation methods for “substantially equal payments” under IRC §72(t)(2)(A)(iv) to incorporate new RMD life expectancy tables [Citation: Notice 2022-6, 2022-5 I.R.B. (January 31, 2022; advance release on January 18, 2022)]
    Text available at: https://www.irs.gov/pub/irs-drop/n-22-06.pdf
  • 2022 Cumulative List issued for review of 403(b) pre-approved plans submitted for Cycle 2 approval [Citation: Notice 2022-8, 2022-7 I.R.B. (February 14, 2022); advance release on January 28, 2022]
    Text available at: https://www.irs.gov/pub/irs-drop/n-22-08.pdf
  • Form 8915-F issued to handle all qualified disaster distribution reporting after 2020 [Form 8915-F/Instructions for Form 8915-F (Rev. January 2022)]
    Text available at:
    https://www.irs.gov/pub/irs-prior/f8915f--2022.pdf (Form 8915-F)
    https://www.irs.gov/pub/irs-prior/i8915f--2022.pdf (Instructions to Form 8915-F)
  • IRS temporarily suspends its IRA pre-approval program [Citation: Announcement 2022-6, 2022-13 I.R.B. (March 28, 2022) (advance release on March 14, 2022)]
    Text available at: https://www.irs.gov/pub/irs-drop/a-22-06.pdf
  • Static mortality tables for IRC §430(h)(3) funding calculations for 2023valuation dates; applicable mortality tables for IRC §417(e) determinations for annuity starting dates that occur in stability periods beginning in 2023; mortality improvement rates for 2023 valuation dates [Citation: Notice 2022-22, 2022-20 I.R.B. (May 16, 2022)]
    Text available https://www.irs.gov/pub/irs-drop/n-22-22.pdf
  • Temporary relief that waives physical presence requirement for spousal consent if certain conditions are met is extended to December 31, 2022 [Citation: Notice 2022-27, 2022-22 (May 31, 2022; advance release on May 12, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/n-22-27.pdf
  • IRS will not rule on certain spinoff/termination transactions involving excess assets [Citation: Rev. Proc. 2022-28, 2022-27 I.R.B. (July 5, 2022; advance release on June 21, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/rp-22-28.pdf
  • IRS issues guidance regarding the changes made by section 9707 of the American Rescue Plan Act of 2021 (the ARP), Pub. L. 117-2, to the election of alternative minimum funding standards under IRC §430(m) for a defined benefit pension plan that is a community newspaper plan or any other plan that is sponsored by an eligible newspaper plan sponsor [Citation: Notice 2022-31, 2022-29 I.R.B. (July 18, 2022; advance release on June 29, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/n-22-31.pdf
  • IRS extends amendment deadlines for the SECURE Act, the CARES Act, the age 59½ in-service distribution rules under the Miner’s Act to December 31, 2025, and qualified disaster distribution amendments under the Taxpayer Certainty and Disaster Tax Relief Act of 2020 [Citation: Notice 2022-33, I.R.B. 2022-34 (August 22, 2022; advance release on August 3, 2022), as modified by Notice 2022-45, I.R.B. 2022-42 (October 17, 2022; advance release on September 26, 2022)]
    Text available at:
    https://www.irs.gov/pub/irs-drop/n-22-33.pdf (Notice 2022-33)
    https://www.irs.gov/pub/irs-drop/n-22-45.pdf (Notice 2022-45)
  • Regulatory interpretation of the application of the 10-year rule for participants who die after the required beginning date will not be effective earlier than for 2023 RMD calculations [Citation: Notice 2022-53, I.R.B. 2022-44 (October 31, 2022; advance release on October 7, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/n-22-53.pdf
  • Adjusted dollar limits for 2023 [Citation: Notice 2022-55 (advance release on October 21, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/n-22-55.pdf
  • IRS modifies remedial amendment periods for new plans, establishes determination letter program for individually-designed 403(b) plans, and clarifies the scope of IRS’ review of individually-designed plans [Citation: Rev. Proc. 2022-40, 2022-47 I.R.B. (November 21, 2022)]
    Text available at: https://www.irs.gov/pub/irs-drop/rp-22-40.pdf
  • 2022 remedial amendment list contains no required amendments [Citation: Notice 2022-62, 2022-49 (December 5, 2022) (advance release on November 21, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/n-22-62.pdf
  • IRS issues 2023 covered compensation table [Citation: Rev. Rul. 2022-24, 2022-51 I.R.B. (December 19, 2022; advance release on December 8, 2022)]
    Text available at https://www.irs.gov/pub/irs-drop/rr-22-24.pdf

IRS Informal Rulings, Letters or other "Soft" Guidance

DOL Regulations

DOL Formal Guidance/Prohibited Transaction Exemptions

  • DOL finalizes amendments to several class exemptions to eliminate references to credit ratings, as required by the Dodd-Frank financial reform legislation [Citation: Amendments to Class Prohibited Transaction Exemptions to Remove Credit Ratings Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, 87 F.R. 12985 (March 8, 2022)]
    Text available at: https://www.govinfo.gov/content/pkg/FR-2022-03-08/pdf/2022-04866.pdf
  • Proposed amendments to PTE 84-14 would clarify effect of foreign convictions and add requirements aimed at better protecting the interest of plan participants [Citation: Proposed Amendment to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption), 87 F,R, 45204 (July 27, 2022)]
    Text available at https://www.govinfo.gov/content/pkg/FR-2022-07-27/pdf/2022-15702.pdf
  • DOL proposes restating the VFC Program to add a limited self-correction option for delinquent participant contributions, and to expand and clarify the correction rules for certain other covered transactions [Citation: Proposed Amendments to Voluntary Fiduciary Correction Program, 87 F.R. 71164 (November 21, 2022)]
    Text available at: https://www.govinfo.gov/content/pkg/FR-2022-11-21/pdf/2022-24703.pdf
  • Proposed amendments to class exemption would recognize proposed self-correction procedure under VFC Program, eliminate 3-year limitation and make several other clarifications [Citation: Proposed amendments to PTE 2002-51, 87 F.R. 70753) (November 21, 2022)]
    Text available at: https://www.govinfo.gov/content/pkg/FR-2022-11-21/pdf/2022-24702.pdf

PBGC Regulations and Other Guidance

EBSA Advisory Opinions, Field Assistance Bulletins and other informal guidance from the DOL

ERISA Litigation

Miscellaneous Guidance

  • None

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