IRS

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Kentucky

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 22, 2024, for Kentucky severe storms, straight-line winds, tornadoes, landslides, and mudslides, for the incident period of April 2, 2024.

May 23 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for West Virginia

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 22, 2024, for West Virginia severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides, for the incident period of April 2, 2024 – April 6, 2024.

May 23 2024

Industry & Regulatory News

Washington Pulse: DOL Releases Final Investment Advice Fiduciary Rule

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

May 22 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Texas Severe Storms

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 17, 2024, for Texas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of April 26, 2024, and continuing.

May 20 2024

Industry & Regulatory News

IRS Announces Deadline Relief for Iowa Severe Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of Iowa severe storms and tornadoes.

May 20 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Massachusetts Severe Storms

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 15, 2024, for Massachusetts severe storms and flooding, for the incident period of September 11 – 13, 2023.

May 17 2024

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service has issued Notice 2024-40, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

May 17 2024

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