The U.S. Department of Labor announced on April 15, 2024 that its Employee Benefits Security Administration is proposing to collect information from plan administrators on a voluntarily basis to establish an online search tool to help America’s workers locate lost retirement savings they earned. Read More
The Employee Benefits Security Administration of the Department of Labor (DOL) recently released a proposed regulation on automatic portability transactions under SECURE 2.0 Act of 2022. The goal of automatic portability transactions is to help workers keep track of their retirement savings accounts and improve retirement security by reducing cash-outs when they change jobs. Read More
The U.S. Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) (together “Agencies”) on February 23, 2023 released Federal Register notices that announce changes to the 2023 Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form. Read More
The U.S. Department of Labor announced that its Employee Benefits Security Administration has proposed updates to its Voluntary Fiduciary Correction Program, including a self-correction component for employers who fail to send employee salary withholding contributions or participant loan repayments to retirement plans in a timely manner. Read More