PBGC Updates Maximum Guarantee Table for 2024
The Pension Benefit Guarantee Corporation (PBGC) has updated its table titled, “Present Value of PBGC Maximum Guarantee.
DOL Releases Proposed Fiduciary Rule
The Department of Labor (DOL) has released a new proposed rule updating the definition of an investment advice fiduciary under ERISA.
Retirement Plan Disaster Assistance May Be Available for Kansas Severe Storms
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 26, 2023, for severe storms, straight-line winds, tornadoes, and flooding in Kansas.
How SECURE 2.0 Changed the Hardship Rules
SECURE 2.0 expands hardship self-certification.
SECURE 2.0 Changes Catch-Up Contribution Rules
SECURE 2.0 requires that all catch-up contributions for a participant whose FICA wages for the prior year exceed $145,000 (indexed) be made on a Roth basis.
Retirement Savings for Americans Act Reintroduced
Senators John Hickenlooper (D-CO) and Thom Tillis (R-NC), and Representatives Terri Sewell (D-AL) and Lloyd Smucker (R-PA) have re-introduced the Retirement Savings for Americans Act.
IRS Publishes 2024 Mortality Table for DB Plans
The IRS has issued Notice 2023-73, specifying the mortality table used in determining minimum present value under IRC 417(e)(3) and ERISA section 205(g)(3).
Retirement Plan Disaster Assistance May Be Available for California Tropical Storm Hilary
The Federal Emergency Management Agency issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.
IRS Issues Mortality Table Regulations Used for Pension Plans
The Internal Revenue Service has released final regulations titled “Mortality Tables for Determining Present Value under Defined Benefit Pension Plans”.
Updated Yield Curves and Segment Rates for DB Plans
The Internal Revenue Service has issued Notice 2023-72, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
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