- Resources
- FuturePlan ERISA Team
FuturePlan ERISA Team
Regulatory and Legislative
Retirement Spotlight: IRS and DOL Release Guidance for PLESA Provisions
In January 2024, the Internal Revenue Service (IRS) released Notice 2024-22, providing guidance with respect to anti-abuse rules for Pension-Linked Emergency Savings Accounts (PLESAs), a new provision created by the SECURE 2.0 Act of 2022 (SECURE 2.0).
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storm Victims
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 30, 2024, for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding, for the incident period of April 25, 2024, and continuing.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Kansas Winter Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 28, 2024, for a Kansas Winter Storm, for the incident period of January 8, 2024–January 16, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Washington Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 28, 2024, for Washington severe winter storms, straight-line winds, flooding, landslides, and mudslides, for the incident period of January 5, 2024–January 29, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for California Severe Winter Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe winter storm, for the incident period of January 30 – January 31, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for California Severe Storms and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe storms and flooding, for the incident period of January 31, 2024 – February 9, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for New Hampshire Severe Storms and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for New Hampshire severe storms and flooding, for the incident period of January 9, 2024 – January 14, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Vermont Severe Winter Storm
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for a Vermont severe winter storm for the incident period of January 9, 2024–January 13, 2024.
Regulatory and Legislative
DOL Amendment to Abandoned Plan Program Has Left OMB
Department of Labor (DOL) guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget (OMB) since last July, has left OMB. According to the abstract filed with OMB, the principal purpose of the amendments is to permit bankruptcy trustees to use the DOL’s program to terminate and wind up the plans of sponsors in liquidation under Chapter 7 of the U.S. Bankruptcy Code.
Regulatory and Legislative
How IRS Notice 2024-35 Affects Beneficiaries
Proposed RMD regulations were released in February 2022.
Under the proposed regulations, if an account owner dies on or after their required beginning date, beneficiaries who are subject to the 10-year rule must take annual life expectancy payments during the first nine years.