DOL Releases Interim Final Rule for Abandoned Plans
The Department of Labor has issued a regulatory package that includes an interim final rule that amends the regulations for abandoned plans that were initially created in 2006.
Retirement Plan Disaster Assistance May Be Available for Iowa Severe Storms
The Federal Emergency Management Agency issued a Major Disaster Declaration on May 14, 2024, for Iowa severe storms and tornadoes.
Resolution Disapproving DOL Fiduciary Rule Announced
Senators Ted Budd (R-NC), Bill Cassidy (R-NC), Roger Marshall (R-KS), and Joe Manchin (D-WV) have announced they are introducing a resolution of congressional disapproval of the Department of Labor’s “Retirement Security Rule.”
Retirement Plan Disaster Assistance May Be Available for Nebraska Storms
The Federal Emergency Management Agency issued a Major Disaster Declaration on May 3, 2024, for Nebraska severe storms, straight-line winds, and tornadoes, for the incident period of April 25, 2024 – April 27, 2024.
IRS Releases FAQs on SECURE 2.0 Disaster Relief
The Internal Revenue Service has released a set of frequently asked questions regarding rules for distributions from retirement plans and individual retirement arrangements (IRAs) under Section 331 of SECURE 2.0 for individuals affected by federally declared major disasters.
IRS Reminds Businesses of SECURE 2.0 Impacts on Form W-2
The Internal Revenue Service is reminding businesses who sponsor a retirement plan that certain provisions of SECURE 2.0 that became effective in 2023 may impact their Form W-2 reporting requirements.
Retirement Plan Disaster Assistance May Be Available for Ohio Tornadoes
The Federal Emergency Management Agency issued a disaster declaration on May 2, 2024, for Ohio tornadoes, for the incident period of March 14, 2024.
IRS and DOL Release Guidance for PLESA Provisions
While SECURE 2.0 provided the basic framework to establish PLESAs, the IRS was required to issue regulations to address remedies that employers can use to prevent misuse of these types of accounts.
Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storm Victims
The Federal Emergency Management Agency issued a disaster declaration on April 30, 2024, for Oklahoma Severe Storms.
Retirement Plan Disaster Assistance May Be Available for Kansas Winter Storm
The Federal Emergency Management Agency issued a disaster declaration on April 28, 2024, for a Kansas Winter Storm, for the incident period of January 8, 2024 – January 16, 2024.
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