Defined benefit plan

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

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

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.

May 16 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

ERISA Insights: DOL Releases Final Fiduciary Rule for Investment Advisers

The Department of Labor (DOL) has released a final rule updating the definition of an investment advice fiduciary under ERISA.

April 23 2024

Industry & Regulatory News

How IRS Notice 2024-35 Affects Beneficiaries

Proposed RMD regulations were released in February 2022.

Under the proposed regulations, if an account owner dies on or after their required beginning date, beneficiaries who are subject to the 10-year rule must take annual life expectancy payments during the first nine years.

April 19 2024