irs

Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton

The Federal Emergency Management Agency issued a Major Disaster Declaration on November 5, 2024, for Seminole Tribe of Florida Hurricane Milton.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available in New Mexico and South Dakota

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 1, 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

IRS Releases 2025 Cost-of-Living Adjusted Retirement Savings Limitations

The IRS has issued Notice 2024-80, which contains the 2025 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

FuturePlan ERISA Team

IRS

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS Guidance

Washington Pulse - IRS Releases Guidance for LTPT Employees of ERISA 403(b) Plans

The Internal Revenue Service recently issued Notice 2024-73, providing guidance regarding the participation of long-term, part-time employees in 403(b) plans subject to Title I of the Employee Retirement Income Security Act.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

Washington Pulse

SECURE 2.0

IRS Announces Deadline Relief for Alaska Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in Alaska until May 1, 2025.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Virgin Islands Tropical Storm Ernesto

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 25, 2024, for Virgin Islands Tropical Storm Ernesto.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available in Nebraska and New York

The Federal Emergency Management Agency issued Major Disaster Declarations on October 21, 2024, for the following locations: Nebraska severe storms, straight-line winds, tornadoes, and flooding, and New York severe storm and flooding.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service has issued Notice 2024-76, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

Defined Benefit Plan

IRS

IRS Guidance

Retirement Plan Disaster Assistance May Be Available for North Carolina Potential Tropical Cyclone Eight

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 19, 2024, for North Carolina Potential Tropical Cyclone Eight.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

IRS Posts Final Regulations on Withholding on Certain Distributions to Payees Outside the United States

The IRS has posted final regulations regarding income tax withholding on certain periodic payments and nonperiodic distributions from employer deferred compensation plans that are not eligible rollover distributions.

FuturePlan ERISA Team

IRA

IRS

IRS Guidance

Legislative updates

Defined Contribution Plan

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