IRS Issues Long-Awaited Long-Term Part-Time Employee Guidance
The IRS has released a proposed rule reflecting statutory changes made by the SECURE Act and SECURE 2.0 related to long-term, part-time employees.
Retirement Plan Disaster Assistance May Be Available for Arkansas Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on November 14, 2023, for Arkansas severe storms, straight-line winds, and tornadoes for the incident period of June 25-June 26, 2023.
DOL Final Rule on QPAM Exemptions at OMB
The Office of Management and Budget has received a final rule from the Department of Labor titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager”.
IRS Releases 2024 Cost-of-Living Adjusted Retirement Savings Limitations
The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).
PBGC Updates Maximum Guarantee Table for 2024
The Pension Benefit Guarantee Corporation (PBGC) has updated its table titled, “Present Value of PBGC Maximum Guarantee.
Retirement Plan Disaster Assistance May Be Available for Kansas Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 26, 2023, for severe storms, straight-line winds, tornadoes, and flooding in Kansas.
IRS Publishes 2024 Mortality Table for DB Plans
The IRS has issued Notice 2023-73, specifying the mortality table used in determining minimum present value under IRC 417(e)(3) and ERISA section 205(g)(3).
Retirement Plan Disaster Assistance May Be Available for California Tropical Storm Hilary
The Federal Emergency Management Agency issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.
IRS Issues Mortality Table Regulations Used for Pension Plans
The Internal Revenue Service has released final regulations titled “Mortality Tables for Determining Present Value under Defined Benefit Pension Plans”.
Updated Yield Curves and Segment Rates for DB Plans
The Internal Revenue Service has issued Notice 2023-72, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
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