On December 23, 2006, the IRS released Notice 2007-8, requesting comments on DB plan issues presented by IRC §401(a)(36), as added by PPA. [Notice 2007-8]

On December 20, 2006, the DOL issued FAB 2006-03 on the periodic pension benefit statement requirements under PPA §508(a), amending ERISA §105 [FAB 2006-03]

On December 20, 2006, the IRS released Notice 2007-6, announcing their processing of determination letter and examination cases amendments to change a traditional DB plan into a cash balance plan. [Notice 2007-6]

On December 14, 2006, the IRS released Notice 2007-03, its 2006 Cumulative List of Changes in Plan Qualification Requirements. [Notice 2007-03]

On December 11, 2006, the DOL, Treasury and PBGC published the Proposed Revision of Annual Information Return/Reports to replace Schedule B with separate actuarial schedules for SEPs and multiemployer plans, and proposed the Form 5500-SF. [Proposal]

On December 1, 2006, DOL published a Model Notice of Pending Election of Multiemployer Plan Status, as PPA permits certain plans that would otherwise be treated as multiemployer plans to elect to revoke a prior election to be treated as single employer plans. [Model]

On December 1, 2006, the DOL published two requests for information (RFI) on the PPA provision allowing computer model as an eligible investment advice arrangement for self-directed 401(k) plans and IRAs. [RFI for 401(k)s] [RFI for IRAs]

On November 30, 2006, the GAO issued Report GAO-07-21 “Private Pensions: Changes Needed to Provide 401(k) Plan Participants and the Department of Labor Better Information on Fees. [GAO-07-21]

On November 30, 2006, the IRS issues Notice 2006-107, Rules for Diversification of Publicly Traded Stock in DC Plans, which is transitional guidance on IRC §401(a)(35), as added by PPA §901. [Notice 2006-107]

On September 27, 2006, EBSA published proposed rules on participant directed individual account plans, default investment alternatives. [Proposed Rules]

On August 29, 2006, the IRS announced in IR-2006-136 that the general effective date for the regulations regarding §403(b) arrangements that were proposed in 2004 will be extended. The final regulations generally will not be effective earlier than January 1, 2008. [IR-2006-136]

On August 21, 2006, the IRS issued Notice 2006-75, Weighted Average Interest Rate Modification, providing the composite corporate bond rates from December 2005 through July 2006, and the resulting corporate bond weighted averages for plan years beginning January 2006 through August 2006. [Notice 2006-75]

On August 9, 2006, the IRS published final regulations on certain issues under §411(d)(6) Protected Benefits, Including Optional Forms of Benefit that contains information on the interaction between the anti-cutback rules of §411(d)(6) and the nonforfeitability requirements of §411(a). [Final regulations]

On July 21, 2006, the Treasury, DOL and PBGC released its proposed rule requiring the electronic filing of Form 5500, Annual Return/Report of Employee Benefit Plan, for plan years beginning on or after Jan. 1, 2008, intended to create a wholly electronic filing system for receipt of the Form 5500. [Proposed rule]

June 2006 - IRS Releases New FAQs relating to Form 8905 and Interim Amendments [FAQs]

On May 5, 2006, Issued with Rev. Proc. 2006-27, the IRS’s introduced an improved Corrections page on the Retirement Plans Community web site under the title of “Correcting Plan Errors” to include a variety of tools designed to highlight the changes in the new EPCRS procedure. The documents are tools used by Employee Plans Specialists during their review of retirement plans and are available to plan sponsors to use before submitting a determination letter application. [Corrections page]

On May 5, 2006, the IRS released Revenue Procedure 2006-27, which amends the rules for correcting plans under the Employee Plans Compliance Resolution System (EPCRS) and supersedes Rev. Proc. 2003-44, published in 2003. [Rev Proc 2006-27]

On May 5, 2006, the Treasury Department issued TD 9256 (correcting amendment) on Revised Regulations Concerning Disclosure of Relative Values of Optional Forms of Benefit. [Fed Reg 26688] [Fed Reg 26687]

On April 24, 2006, the IRS issued Notice 2006-44 which provides a sample plan amendment for sponsors, practitioners, and employers (plan sponsor) who want to provide for designated Roth Contributions in their 401(k) plans. [Notice 2006-44]

On April 21, 2006, the DOL issued final regulations on the termination of abandoned (orphan) individual retirement plans. [Fed Reg]

On April 21, 2006, the DOL issued Class Exemption 2006-06 for Administrators of Abandoned (Orphan) Retirement Plans. [PTE 2006-06]

On April 21, 2006, the DOL issued Field Assistance Bulleting (FAB) 2006-01 describing the duties and responsibilities for the allocation and distribution of mutual fund settlement proceeds to plans and plan participants. [FAB 2006-01]

On April 19, 2006, DOL published an Update of the Voluntary Fiduciary Correction Program, which simplified and expanded the original VFCP of 2002. [VFCP]

On April 19, 2006, the DOL issued an amendment to class exemption PTE 2002-51, which expands the relief under the exemption to additional transactions included in the final VFCP. [PTE 2002-51]

On March 24, 2006, the IRS issued Notice 2006-36 inviting public comment on items that should be included on its 2006-2007 Guidance Priority List. [Notice 2006-36]

On March 23, 2006, the IRS issued final regulations under Section 417(a)(3), the revised regulations concerning disclosure of relative values of optional forms of benefit. [Final Regs]

On February 3, 2006, the IRS proposed broader restrictions on contingent fees and greater transparency in disciplinary proceedings under new rules (REG-122380-02) on standards of tax practice under Circular 230. [REG-122380-02]

IRS FAQs Regarding Designated Roth Accounts based on the final regulations, Designated Roth Contributions to Cash or Deferred Arrangements Under Section 401(k) released January 3, 2006, and proposed regulations, Designated Roth Accounts released January 26, 2006." [FAQs]

On January 19, 2006, the IRS has released a revised list of required modifications (LRM) for 401(k) plans. The updated LRM reflects changes made by the Working Families Tax Relief Act of 2004 and the final Roth 401(k) regulations. [LRM]

On January 11, 2006, the DOL issued final rules requiring administrators of multiemployer pension plans to issue an annual notice of the funding status of the plans. [Final rule]