Defined contribution plan

For plan years beginning after December 29, 2022, employers that sponsor 401(k) or 403(b) plans may offer employees a “de minimis” financial incentive, such as a gift card, as long as the cost of the incentive is paid by the employer and not paid from plan assets.

The SECURE 2.0 Act contains provisions that allow individuals to place more of their assets into Roth accounts.

Credible studies have concluded that employers who automatically enroll plan participants into a retirement plan help place them on a lifetime path to meaningful savings.

The IRS has issued Revenue Ruling 2024-07, which contains the applicable federal rates (AFR) for April 2024.

A final rule titled, “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager,” (QPAM) has left the Office of Management and Budget—suggesting that official release may come soon.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2024, for Alaska severe storm, landslides, and mudslides, for the incident period of November 20, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 2, 2024, for Vermont R1 severe storms and flooding, for the incident period of December 18 – December 19, 2023.

The IRS has announced the postponement of certain tax-related deadlines for victims of wildfires in the Spokane, Washington, area.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in San Diego, California.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 27, 2024, for New Hampshire severe storm and flooding, for the incident period of December 17 – December 21, 2023.