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Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for West Virginia
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for West Virginia severe storms, flooding, landslides, and mudslides, for the incident period of August 28, 2023 – August 30, 2023.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Maine
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for Maine severe storms and flooding, for the incident period of December 17, 2023 – December 21, 2023.
Industry & Regulatory News
Bill Introduced to Require PBGC to Recover Special Financial Assistance Overpayments
Senator Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions Committee, and Rep. Virginia Foxx (R-NC), chair of the House Education and the Workforce Committee, introduced the GHOST Act.
Industry & Regulatory News
IRS Announces Deadline Relief for Severe Storms in Connecticut
The IRS has announced the postponement of certain tax-related deadlines for victims in parts of Connecticut affected by severe storms, flooding, and a potential dam breach.
Industry & Regulatory News
Agencies Release Reporting and Disclosure RFI Under SECURE 2.0
The Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation have released a Request for Information (RFI) pursuant to Section 319 of SECURE 2.0.
Industry & Regulatory News
Washington Pulse: IRS Releases Guidance on SECURE 2.0 Provisions
The Internal Revenue Service (IRS) has released Notice 2024-02, which provides guidance in a question and answer format regarding several provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0).
Industry & Regulatory News
DOL Posts FAQs on PLESAs Under SECURE 2.0
The Department of Labor (DOL) has announced the release of a set of frequently asked questions intended to provide general compliance information under ERISA regarding pension-linked emergency savings account (PLESA) arrangements that are allowed under SECURE 2.0.
Industry & Regulatory News
IRS Finalizes Rule to Update Minimum Present Value Requirements for DB Plan Distributions
The IRS has issued a final rule to update minimum present value requirements for defined benefit plan distributions.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Rhode Island Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 7, 2024 for Rhode Island severe storms, flooding, and tornadoes, for the incident period of September 10 – September 13, 2023.
Industry & Regulatory News
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service (IRS) has issued Notice 2024-21, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.