IRS

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.

May 15 2024

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.

May 15 2024

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).

May 06 2024

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.

May 06 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.

May 06 2024

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.

May 06 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Nebraska Storms

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 3, 2024, for Nebraska severe storms, straight-line winds, and tornadoes, for the incident period of April 25, 2024 – April 27, 2024.

May 06 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storm Victims

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 30, 2024, for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding, for the incident period of April 25, 2024, and continuing.

May 01 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Kansas Winter Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 28, 2024, for a Kansas Winter Storm, for the incident period of January 8, 2024–January 16, 2024.

April 29 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Washington Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 28, 2024, for Washington severe winter storms, straight-line winds, flooding, landslides, and mudslides, for the incident period of January 5, 2024–January 29, 2024.

April 29 2024