The SECURE 2.0 Act of 2022, provisions affecting the Employee Plans Compliance Resolution System support the IRS trend toward shifting certain types of retirement account corrections to the Self Correction Program.
The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Vermont.
The IRS has issued Notice 2023-54 to provide transition relief for required minimum distributions in connection with the change in required beginning date to age 73 under SECURE 2.0, and guidance for certain specified RMDs for 2023.
The Securities and Exchange Commission (SEC) has released a final rule that amends certain rules governing money market funds.
Representatives Donald Norcross (D-NJ) and co-sponsor Tim Walberg (R-MI) have re-introduced the Lifetime Income for Employees Act. H.R. 3942 would allow annuities as a default investment in 401(k) plans.
Pension-Linked Emergency Savings Accounts
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for Maine severe storm and flooding.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for South Dakota flooding.
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 5, 2023, for North Dakota flooding.
The Pension Benefit Guaranty Corporation (PBGC) is requesting from the federal Office of Management and Budget (OMB) the authority to modify its information collection procedures under its missing participants program.