News

SECURE 2.0 Technical Corrections Draft Released

The Senate and House committees of jurisdiction have released a draft containing technical corrections and other clarifications to SECURE 2.0.

FuturePlan ERISA Team

529 account

Defined Contribution Plan

IRA

Legislative updates

SECURE 2.0

DOL Issues Final Rule Updating Davis-Bacon Regulations

The Department of Labor has issued a final rule updating the Davis-Bacon Act and the Davis-Bacon Related Acts nearly 40 years after the Department last completed a comprehensive revision of the guidelines.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Washington Pulse

Prevailing Wage

Deadline Relief for Virgin Islands Water Supply

The Internal Revenue Service has announced the postponement of certain tax-related deadlines for victims of taxpayers impacted by elevated levels of lead and copper in water supply in Saint Croix, US Virgin Islands.

FuturePlan ERISA Team

IRS

Defined Contribution Plan

Defined Benefit Plan

IRS Issues Long-Awaited Long-Term Part-Time Employee Guidance

The IRS has released a proposed rule reflecting statutory changes made by the SECURE Act and SECURE 2.0 related to long-term, part-time employees.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

Disaster Assistance May Be Available for California Hurricane Hilary

The Federal Emergency Management Agency issued a disaster declaration on November 21, 2023, for California Hurricane Hilary, for the incident period of August 19-21, 2023.

FuturePlan ERISA Team

Legislative updates

IRA

Defined Contribution Plan

Document Guidance for Qualified Pre-Approved and 403(b) Plans

The IRS has released Revenue Procedure (Rev. Proc.)  2023-37, which contains new rules for qualified pre-approved plans and 403(b) plans.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Disaster Assistance May Be Available for Illinois Excessive Rainfall

The Federal Emergency Management Agency issued a disaster declaration on November 20, 2023, for Illinois excessive rainfall.  

FuturePlan ERISA Team

Defined Contribution Plan

IRA

Proposal Would Increase Retirement Plan Access for Younger Workers

Senator Bill Cassidy (R-LA), and co-sponsor Tim Kaine (D-VA) have introduced the “Helping Young Americans Save for Retirement Act”.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

IRS Announces Applicable Federal Rates for December 2023

The IRS has issued Revenue Ruling 2023-21, which contains the applicable federal rates (AFR) for December 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Arkansas Severe Storms

The Federal Emergency Management Agency issued a disaster declaration on November 14, 2023, for Arkansas severe storms, straight-line winds, and tornadoes for the incident period of June 25-June 26, 2023.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

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