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.
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”.
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.
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.
DOL Final Rule on QPAM Exemptions at OMB
The Office of Management and Budget has received a final rule from the Department of Labor titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager”.
DOL Proposes Expanded Definition of Investment Advice Fiduciary
The proposed rule expands the definition of fiduciary; requires that advice being given to a broader range of retirement investors meet fiduciary standards; and treats more rollover recommendations as fiduciary advice.
IRS Releases 2024 Tax Inflation Adjustments
The IRS has issued Revenue Procedure 2023-34, which contains cost-of-living adjustments for taxable years beginning in 2024 for over 60 tax provisions, including cafeteria plans.
Beneficial Ownership Reporting and IRA Owned LLCs
A Department of Treasury and Financial Crimes Enforcement Network (FinCEN) final rule that implements requirements of the Corporate Transparency Act (CTA), will impose beneficial ownership information (BOI) reporting requirements affecting IRA-owned LLCs.
Increased Retirement Plan Startup Credit Proposed for Micro Businesses
Representative Claudia Tenney (R-NY) has introduced the Retirement Investment in Small Employers (RISE) Act.
IRS Releases 2024 Cost-of-Living Adjusted Retirement Savings Limitations
The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).
No Results
