The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
- On December 24, 2012, the U.S. Department of Labor (DOL) updated its 2012 Semi-Annual Regulatory Agenda. This publication takes the form of a Federal Register notice, to comply with certain administrative requirements. The DOL’s agenda and related materials include eight pending projects related to employee benefits, which are listed in the chart below in order of the projected timetable for next steps. (In the ordinary course, dates projected in the agenda may prove to be ambitious.)
- On November 19, 2012, the U.S. Treasury Department and the Internal Revenue Service (IRS) released their 2012-2013 Priority Guidance Plan, often informally referred to as the IRS Business Plan, which lists those issues that will be the subject of formal guidance from July 2012 through June 2013. The IRS Business Plan includes 36 pending items addressing retirement benefits and 24 pending items addressing executive compensation, health care and other benefits.
Projects added to the agendas since they were last published are shown in bold (although in some cases these projects had been announced previously). There are two new DOL initiatives and 17 new tax initiatives.
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