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Industry & Regulatory News
DOL Provides Additional Relief for Participants Impacted by Helene and Milton
The Department of Labor (DOL), in conjunction with the Joint Notice from the Treasury Department, announced yesterday, that is extending certain specified timeframes for participants and beneficiaries in regard to special enrollment, COBRA, claims procedures, and external review processes for health coverage and other employer benefits, has issued additional guidance and further relief for participants of employee benefit plans affected by Hurricanes Helene and Milton.
Industry & Regulatory News
DOL and Treasury Provide Certain Deadline Relief to Retirement and Health Plans and Participants
The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) and the Internal Revenue Service (IRS) will publish an Extension of Certain Timeframes for Employee Benefit Plans, Participants, Beneficiaries, Qualified Beneficiaries, and Claimants Affected by Hurricane Helene, Tropical Storm Helene, or Hurricane Milton in the Federal Register on November 8, 2024.
Industry & Regulatory News
IRS Announces Deadline Relief for Havasupai Tribe in Arizona Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in the Havasupai Tribe in Arizona until February 3, 2025.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on November 5, 2024, for Seminole Tribe of Florida Hurricane Milton, for the incident period of October 5 and continuing.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available in New Mexico and South Dakota
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 1, 2024, for the following locations:
Industry & Regulatory News
IRS Announces Deadline Relief for Alaska Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Alaska until May 1, 2025. The tax relief postpones various tax filing deadlines that began on August 5, 2024.
Industry & Regulatory News
IRS Releases 2025 Cost-of-Living Adjusted Retirement Savings Limitations
The IRS has issued Notice 2024-80, which contains the 2025 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).
Industry & Regulatory News
Washington Pulse: IRS Releases Guidance for LTPT Employees of ERISA 403(b) Plans
The Internal Revenue Service (IRS) recently issued Notice 2024-73, providing guidance regarding the participation of long-term, part-time (LTPT) employees in 403(b) plans subject to Title I of the Employee Retirement Income Security Act (ERISA).
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Virgin Islands Tropical Storm Ernesto
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 25, 2024, for Virgin Islands Tropical Storm Ernesto, for the incident period of August 13 – August 16, 2024.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available in Nebraska and New York
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on October 21, 2024, for the following locations: