As we noted in our prior blog post, the DOL has announced new guidance, in the form of an interim final rule, implementing the lifetime income disclosure requirement for defined contribution plans that was added to ERISA by the 2019 SECURE Act. This guidance has since been published in the Federal Register on September 18, … Continue Reading
On August 18, 2020, the Department of Labor (“DOL”) announced new guidance on lifetime income disclosures that must be included in pension benefit statements furnished to participants in defined contribution plans, such as 401(k) and 403(b) plans. This guidance, issued in the form of an interim final rule, sets forth the rules that plan administrators … Continue Reading
The Pension Benefit Guaranty Corporation (“PBGC”) recently finalized its rule on insurance for amounts rolled over from a defined contribution plan to a defined benefit plan. Although amounts rolled over will be subject to greater protections than apply for most other benefits (i.e., benefits derived from employer contributions), the full rollover benefit will not necessarily … Continue Reading
As we wrap up the inaugural year of InsideCompensation, we look back on 2012’s most significant developments in employee benefits and executive compensation, both in the U.S. and internationally.… Continue Reading
