46 pages. "This proposed rule would update the interest, mortality, and expense assumptions used to determine the present value of benefits for a single-employer pension plan under subpart B of the [PBGC's] regulation on Allocation of Assets in Single-Employer Plans, to determine components of mass withdrawal liability for a multiemployer pension plan, and for other purposes." [Also released: PBGC's Valuation Methodology: Derivation of ERISA 4044 Yield Curve, which describes the principles and methods that would be used to create the 4044 yield curve beyond what was included in the preamble to the Proposed Regs.]  MORE >>

"Plans that would be required to report to PBGC under ERISA 4010 for a single year are typically not plans that pose a significant risk to the single employer insurance system. Recognizing this, as well as the unusual market conditions prevalent in the reference period, PBGC is granting a one-time waiver of the 4010 reporting requirements with respect to an 'information year' for plans and plan sponsors that meet [certain] criteria."  MORE >>

"Effective January 1, 2024, catch-up contributions will be required to be made on a Roth basis for participants with wages greater than $145,000 (indexed annually for inflation) in the prior year.... [Plan sponsors should reach out] to payroll providers and recordkeepers today to see how they plan to approach compliance with the new provision. These conversations should not be independent of one another -- it will take a concerted effort amongst plan management, payroll providers, and recordkeepers to help ensure compliance."  MORE >>

"Utilities is by far the winner when it comes to employer contributions, with an average of $7.54 per hour worked ... Aircraft manufacturing ... [averages] $5.64 per hour worked in employer contributions.... [P]rofessional and business services ... is not the best for retirement perks ... [M]anagement, business and financial occupations within the industry ... get an average of $2.90 per hour worked in employer contributions to retirement savings."  MORE >>

"Richard made a career for himself in consulting on employee benefit plans for some of the country's top accounting and consulting firms. But perhaps inevitably, barely 40 years old, Richard followed in his father's footsteps to start his own benefits consulting companies, the Technical Answer Group, and later, USVI Pensions.... Never wanting to be average or ordinary, Richard was known for having a spirited energy and confidence, a mischievous sense of humor, infectious laugh, unending curiosity, and of course, the trademark mustache and Hawaiian shirt.... May Richard's vibrant spirit find eternal peace."  MORE >>

"Victims of severe storms and flooding in parts of Illinois that began on June 29, 2023, now have until Oct. 31, 2023, to file various individual and business tax returns and make tax payments ... [I]ndividuals and households affected by severe storms and flooding that reside or have a business in Cook County qualify for tax relief."  MORE >>