legislative updates

Proposal Would Expand Medical Expense Coverage for Caregivers

Representatives Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced H.R. 7222, the Lowering Costs for Caregivers Act. 

FuturePlan ERISA Team

Legislative updates

HSA

IRS Announces Deadline Relief for West Virginia

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides, and mudslides in West Virginia.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Legislative updates

Representative Neal Introduces Automatic IRA Act of 2024 Bill

Representative Richard Neal (D-MA), House Ways and Means Committee Ranking Member, has introduced the Automatic IRA Act of 2024.

FuturePlan ERISA Team

Legislative updates

IRA

Bill Introduced to Require PBGC to Recover Special Financial Assistance Overpayments

Senator Bill Cassidy and Rep. Virginia Foxx introduced the GHOST Act.

FuturePlan ERISA Team

Legislative updates

Defined Benefit Plan

Agencies Release Reporting and Disclosure RFI Under SECURE 2.0

The Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation have released a Request for Information pursuant to Section 319 of SECURE 2.0.

FuturePlan ERISA Team

SECURE 2.0

Legislative updates

IRS

IRS Guidance

DOL

Defined Benefit Plan

Defined Contribution Plan

DOL Releases Proposed Regulation on Automatic Portability Under SECURE 2.0

The Department of Labor has announced the release of a proposed regulation on automatic portability transactions pursuant to Section 120 of SECURE 2.0.

FuturePlan ERISA Team

SECURE 2.0

DOL

Legislative updates

Defined Contribution Plan

DOL Posts FAQs on PLESAs Under SECURE 2.0

The Department of Labor has announced the release of a set of frequently asked questions intended to provide general compliance information.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Legislative updates

SECURE 2.0

IRS Finalizes Rule to Update Minimum Present Value Requirements for DB Plan Distributions

The IRS has issued a final rule to update minimum present value requirements for defined benefit plan distributions.

FuturePlan ERISA Team

Defined Benefit Plan

IRS

Legislative updates

OMB Completes Review of DOL Automatic Portability Exemption Proposal

A Department of Labor proposed rule titled Exemption for Certain Automatic Portability Transactions has been removed from the Office of Management and Budget’s list for review.

FuturePlan ERISA Team

DOL

Legislative updates

SECURE 2.0

Defined Contribution Plan

IRA

IRS Issues Limited Guidance for PLESAs Under SECURE 2.0

The IRS has released Notice 2024-22, providing guidance on anti-abuse rules under Section 127 of the SECURE 2.0 Act with respect to Pension-Linked Emergency Savings Accounts.

FuturePlan ERISA Team

IRS

Legislative updates

SECURE 2.0

Defined Contribution Plan

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