The IRS provided a reminder in the May 24, 2023, edition of Employee Plans News that beginning June 1, 2023, the IRS is expanding the determination letter program to include individually designed and terminating 403(b) plans. Guidance permitting these determination letter applications under Revenue Procedure 2022-40 was previously announced.
Regulatory and Legislative
The Federal Emergency Management Agency issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.
Regulatory and Legislative
The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.
Regulatory and Legislative
The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information and for failure to provide certain multiemployer notices.
