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FuturePlan ERISA Team
Regulatory and Legislative
IRS Announces Applicable Federal Rates for May
The IRS has issued Revenue Ruling 2024-09, which contains the applicable federal rates (AFR) for May 2024.
Regulatory and Legislative
IRS Provides Further RMD Transition Relief Under the SECURE Act
The IRS has issued Notice 2024-35 to provide additional transition relief for certain specified RMDs for 2024.
Regulatory and Legislative
DOL Releases Proposed Retirement Savings Lost and Found Information Collection
The Department of Labor (DOL) is proposing to collect information in order to establish the Retirement Savings Lost and Found online searchable database described in Section 523 of ERISA as amended by Section 303 of SECURE 2.0.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for California Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for California severe winter storms, tornadoes, flooding, landslides, and mudslides for the incident period of January 31 – February 9, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Oregon Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for Oregon severe winter storms, straight-line-winds, landslides, and mudslides, for the incident period of January 10, 2024–January 22, 2024.
Regulatory and Legislative
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations (24)
The Internal Revenue Service has issued Notice 2024-34, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Regulatory and Legislative
DOL Fiduciary Rule Has Left OMB
A final rule titled “Retirement Security Rule: Definition of an Investment Advice Fiduciary” has left the Office of Management and Budget (OMB).
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Alaska Severe Storm, Flooding, and Landslides
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 6, 2024, for Alaska severe storm, flooding, and landslides, for the incident period of November 20, 2023.
Regulatory and Legislative
IRS Announces Deadline Relief for Maine Severe Storms and Flooding (1)
The IRS has announced the postponement of certain tax-related deadlines for victims of Maine severe storms and flooding.
Regulatory and Legislative
DOL Releases Final Rule on QPAM Exemptions
The Department of Labor has issued a final rule “Amendment to Prohibited Transaction Class Exemption 84-14 (PTE 84-14) for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)”.