OFCCP Disability Self-ID Form Approved

Yesterday, the U.S. Senate avoided the “nuclear option” on pending nominations for Secretary of Labor-Designate Thomas Perez and for a package of nominees to the National Labor Relations Board (NLRB). The nuclear option would have changed Senate rules by a simple majority vote (rather than the required 67 votes) to end filibusters on presidential executive branch nominations rather than the required 60 votes for “cloture” to cut off debate.

The American Institute of Certified Public Accountants (AICPA) issued a new audit standard for employee benefit plans in July 2019. The new standard is commonly referred to as SAS 136, but its official name is “Statement on Auditing Standards (SAS) No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.”  Although SAS 136 imposes new duties on auditors, plan sponsors also have increased responsibilities under this new standard.

On November 4, 2021, the Internal Revenue Service (IRS) released the 2022 dollar limitations that apply to tax-qualified retirement plans. With few exceptions, the 2022 limitations published in Notice 2021-61 have been adjusted upwards.