The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023.
Responding to numerous requests to make the temporary provisions permanent, the IRS issued proposed regulations.
The IRS has released updated Instructions for Form 5307, Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 25, 2023, for a California severe storm and flooding.
A bill introduced by Representative Frank Lucas (R-OK) was approved by the House Financial Services Committee with bipartisan support by a vote of 35-12.
The IRS provided a reminder in the May 24, 2023, edition of Employee Plans News that beginning June 1, 2023.
The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.
Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department.
The SECURE 2.0 Act provides more ways for individuals to access their retirement savings and creates new exceptions to the 10% early distribution penalty tax.
This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0