On July 30, the Internal Revenue Service issued Notice 2021-48, providing guidance on how plans should implement the funding relief provisions contained in the American Rescue Plan Act of 2021 (“ARPA” or “Act”). Below we...more
Since 2019, plaintiffs’ counsel has filed just over a dozen class action lawsuits against plan sponsors and fiduciaries alleging that the plans use “unreasonable” actuarial equivalence factors, primarily “outdated” mortality...more
On March 11, 2021, President Biden signed into law the American Rescue Plan Act (Pub. Law 117-2, the “Act” or “ARPA”). The Act, among other things, provides significant funding relief for single-employer defined benefit...more
On November 5, 2020, the Internal Revenue Service (“IRS”) released final regulations under section 401(a)(9) of the Internal Revenue Code (“IRC”). 85 Fed. Reg. 72472 (Nov. 12, 2020). The final regulations, which closely...more