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 #83, Summer 2023)
This issue of eRISA Update provides summaries of the following new developments: (1) qualification and tax relief granted by the IRS for certain distributions made to individuals born in 1951 that are erroneously treated as required minimum distribution (RMDs), (2) qualification and tax relief for certain 2023 RMDs not distributed to certain beneficiaries because of an interpretation of the 10-year rule under IRC §401(a)(9)(H) with respect to the payment of benefits of a participant who died after reaching the required beginning date, (3) an IRS announcement that the 2022 proposed regulations under IRC §401(a)(9) will not take effect earlier than 2024, (4) interim guidance from the IRS on how to apply the expanded self-correction options granted by section 305 of Division T of the Consolidated Appropriations Act, 2023 (known as “SECURE 2.0"), (5) PBGC regulations clarifying certain practices regarding the payment of benefits under PBGC-trusteed plans, (6) DOL Field Assistance Bulletin 2023-01, which provides guidance to EBSA field offices regarding annual funding notice requirements for multiemployer DB plan that receive special financial assistance, (7) a Fourth Circuit case upholding a permanent injunction against two fiduciaries who repeatedly breached duties of loyalty and prudence with respect to an ERISA plan, and (8) a Third Circuit case holding that a plan’s arbitration clause did not prohibit litigation under ERISA §502(a)(2) because such claims are brought on behalf of the plan.
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).
