PBGC made several changes to the Final Rule issued on July 6, 2022. Learn about changes and benefits to retirement plans on the Watkins Ross blog.
Further Assistance for Troubled Multiemployer Retirement Plans
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Government Assistance
Financial Assistance to Troubled Multiemployer Pension Plans
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARPA), which includes relief for multiemployer pension plans.
Internal Revenue Service Provides Temporary Relief and Other Guidance on Mid-Year Reductions of Safe Harbor Contributions to 401(k) Plans due to COVID-19
On June 29, 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-52 that provides temporarily relief to plan sponsors that amend their safe harbor Section 401(k) or 401(m) plans (“Safe Harbor Plans”) mid-year to reduce or suspend employer safe harbor...