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Industry & Regulatory News
ERISA Insights: DOL Releases Interim Final Rule for Abandoned Plans
The Department of Labor (DOL) has issued a regulatory package that includes an interim final rule that amends the regulations for abandoned plans that were initially created in 2006.
Industry & Regulatory News
IRS Publishes 2025 Mortality Tables for DB Plans
The Internal Revenue Service has released Notice 2024-42, updating the static mortality tables for defined benefit plans for 2025.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Iowa Severe Storms
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 14, 2024, for Iowa severe storms and tornadoes, for the incident period of April 26 – 27, 2024.
Industry & Regulatory News
Resolution Disapproving DOL Fiduciary Rule Announced
Senators Ted Budd (R-NC), Bill Cassidy (R-NC), Roger Marshall (R-KS), and Joe Manchin (D-WV) have announced they are introducing a resolution of congressional disapproval of the Department of Labor’s “Retirement Security Rule.”
Industry & Regulatory News
CIP Requirements for Registered Investment Advisers Proposed
The Financial Crimes Enforcement Network (FinCEN), Securities and Exchange Commission (SEC), and Department of Treasury have jointly issued a proposed rule titled Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers.
Industry & Regulatory News
2025 HSA Limits Released
The IRS has issued Revenue Procedure 2024-25, providing inflation-adjusted amounts for health savings accounts (HSAs) for calendar year 2025.
Industry & Regulatory News
Retirement Spotlight: IRS and DOL Release Guidance for PLESA Provisions
In January 2024, the Internal Revenue Service (IRS) released Notice 2024-22, providing guidance with respect to anti-abuse rules for Pension-Linked Emergency Savings Accounts (PLESAs), a new provision created by the SECURE 2.0 Act of 2022 (SECURE 2.0).
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Ohio Tornadoes
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 2, 2024, for Ohio tornadoes, for the incident period of March 14, 2024.
Industry & Regulatory News
IRS Reminds Businesses of SECURE 2.0 Impacts on Form W-2
The Internal Revenue Service is reminding businesses who sponsor a retirement plan that certain provisions of SECURE 2.0 that became effective in 2023 may impact their Form W-2 reporting requirements.
Industry & Regulatory News
IRS Releases FAQs on SECURE 2.0 Disaster Relief
The Internal Revenue Service (IRS) has released a set of frequently asked questions (FAQs) regarding rules for distributions from retirement plans and individual retirement arrangements (IRAs) under Section 331 of SECURE 2.0 for individuals affected by federally declared major disasters.