"[Notice 2022-45] delays deadlines to adopt amendments under Section 2202 of the CARES Act regarding [1] favorable tax treatment with respect to coronavirus-related distributions, [2] increases in permissible loan amounts, and [3] delaying repayment of plan loans. The Notice also delays the deadline to adopt amendments under Section 302 of the Relief Act, which provides favorable tax treatment with respect to qualified disaster distributions."  MORE >>

"The DOL will accept a Form 5500 filing without the IQPA audit report attached, however the agency will treat the submission as an incomplete filing, subject to penalties if not timely corrected and resubmitted."  MORE >>

"Based on [the Seventh Circuit's ruling in Oshkosh, in one case] the district court dismissed all of plaintiffs' claims of excessive recordkeeping and investment management fees, finding that plaintiffs failed to provide the factual context necessary to meet the plausibility standards required to survive a motion to dismiss. In [the second case], the district court dismissed plaintiffs' claims pertaining to the performance and fees of particular investment options but allowed plaintiffs' excessive recordkeeping fee claims to survive." [Baumeister v. Exelon, No. 21-6505 (N.D. Ill. Sep. 22, 2022) and Coyer v. Univar Sols. USA Inc., No. 22-362 (N.D. Ill. Sep. 28, 2022)]  MORE >>

"The latest excessive fee suit targets 'wildly excessive compensation,' an allegedly imprudent stable value offering, and the unmonitored use of 'float' income." [Catenac v. Lennar Corp., No. 22-23232, (S.D. Fla. complaint filed Oct. 5, 2022)]  MORE >>

"The proposed changes were passed as part of the Mental Health Matters Act [HR 7780], which the House approved Sept. 29 by a near party-line vote of 220-205 ... HR 7780 now moves to the U.S. Senate, where Sen. Tina Smith (D-MN) introduced companion legislation [S 4219]."  MORE >>

"Pension finances slipped modestly in September, as the worst month of the year for stocks more than offset the impact of surging interest rates. Both model plans ... lost less than 1% last month; for the year, Plan A remains up almost 4%, while the more conservative Plan B is now down more than 1% through the first three quarters of 2022."  MORE >>

"The average cost of tuition and fees at Illinois' public universities has increased by 42% from 2007 to 2021, adjusted for inflation.... Out-of-control pension costs are eroding funding the state can invest in higher education, leaving families to pay the price. Families in Illinois are now burdened with the fourth most expensive in-state tuition prices in the nation, and the highest in the Midwest."  MORE >>

"[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Sheet Metal Workers Local Pension Plan ... The plan, based in Massillon, Ohio, covers 1,649 participants in the construction industry. On May 1, 2020, the Sheet Metal Workers Plan implemented a benefit suspension under [MPRA] ... SFA will enable the plan to pay retirement benefits without reduction for many years into the future. The plan will receive $28.8 million in SFA, including interest to the expected date of payment to the plan."  MORE >>

"Despite your current expenses, it is not too early to consider retirement planning. And there are some steps you can take to start saving right away that don't involve eating Ramen noodles every night."  MORE >>

"Victims of Hurricane Ian that began September 25 in South Carolina now have until February 15, 2023, to file various individual and business tax returns and make tax payments ... Individuals and households affected by Hurricane Ian that reside or have a business anywhere in the state of South Carolina qualify for tax relief."  MORE >>

"Victims of Hurricane Ian that began September 28 in North Carolina now have until February 15, 2023, to file various individual and business tax returns and make tax payments ... Individuals and households affected by Hurricane Ian that reside or have a business anywhere in the state of North Carolina qualify for tax relief."  MORE >>

"While closely resembling the proposed rules in most respects, the final rules include several important changes.... [1] New pay-versus-performance table ... [2] Clear description comparing pay with performance ... [3] Unranked list of financial performance measures ... [4] Executive compensation actually paid ... [5] New requirement to disclose net income ... [T]he manner in which data must be calculated makes both the collection and calculation of such data under the final rules costly and time consuming."  MORE >>