Pension News - What's New in 2023?

The following list tracks important guidance that are released during 2023. 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: February 7, 2023

Legislative Developments

• None

Treasury Regulations

• None

IRS Guidance

• 2023 annual update of general procedures for obtaining Employee Plans private letter rulings and determination letters; 2023 user fees [Citation: Rev. Proc. 2023-4, 2023-1 I.R.B. (January 3, 2023)]
  Text available at https://www.irs.gov/pub/irs-irbs/irb23-01.pdf#page=165
• IRS updates Operational Compliance List to reflect changes effective through 2022 [Citation: Operational Compliance List (updated February 2023), www.irs.gov]
  Text available at https://www.irs.gov/retirement-plans/operational-compliance-list

IRS Informal Rulings, Letters or other "Soft" Guidance

• None

DOL Regulations

• Civil penalty adjustments for 2023 [Citation: DOL Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2022, DOL Reg. §2575.3, 88 F.R. 2210 (January 13, 2023)]
  Text available at https://www.govinfo.gov/content/pkg/FR-2023-01-13/pdf/2023-00271.pdf

DOL Formal Guidance/Prohibited Transaction Exemptions

• Nonef

PBGC Regulations and Other Guidance

• Civil penalty adjustments for 2023 [Citation: PBGC Adjustment of Civil Penalties for Inflation, PBGC Reg. §§4071.3 and 4302.3, 88 F.R. 1991 (January 12, 2023),]
  Text available at: https://www.govinfo.gov/content/pkg/FR-2023-01-12/pdf/2023-00499.pdf?utm_medium=email&utm_source=govdelivery
• PBGC responds to comments on withdrawal liability conditions in final rule regarding applications for financial assistance under the American Rescue Plan Act [Citation: PBGC Reg, §4262.16(g)(3), 88 F.R. 4900 (January 26, 2023)]
  Text available at https://www.govinfo.gov/content/pkg/FR-2023-01-26/pdf/2023-01415.pdf

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

• None

ERISA Litigation

• None

Miscellaneous Guidance

• None