defined contribution plan

The Department of Labor issued a final rule to assist employers when determining whether a worker is considered an employee or an independent contractor under the Fair Labor Standards Act.

The Department of Labor has released proposed regulations related to the implementation of section 120 of the SECURE 2.0 Act.

The Federal Emergency Management Agency issued a disaster declaration on March 20, 2024, for Maine severe storms and flooding.

The Federal Emergency Management Agency issued disaster declaration 4765 and 4766 on March 20, 2024, for Rhode Island severe storms and flooding.

The SECURE 2.0 Act contains provisions that allow individuals to place more of their assets into Roth accounts.

For plan years beginning after December 29, 2022, employers that sponsor 401(k) or 403(b) plans may offer employees a “de minimis” financial incentive, such as a gift card, as long as the cost of the incentive is paid by the employer and not paid from plan assets.

The Federal Emergency Management Agency issued a disaster declaration on March 15, 2024, for Alaska severe storm, landslides, and mudslides.

A final rule titled, “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager,” has left the Office of Management and Budget.

The IRS has issued Revenue Ruling 2024-07, which contains the applicable federal rates (AFR) for April 2024.

The Federal Emergency Management Agency issued a disaster declaration on March 2, 2024, for Vermont R1 severe storms and flooding.