Government Funding Bill, Containing SECURE 2.0, Released
Senate Appropriations Committee Chairman Patrick Leahy (D-VT) has released HR 2617, the Consolidated Appropriations Act of 2023.
Deadline Relief for Florida Hurricane Nicole Victims
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Nicole in Florida.
Hardship Distributions May Be Permitted for Florida Hurricane Nicole
The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for Hurricane Nicole in Florida, for the period of November 7, 2022 – November 30, 2022.
SEC “Hard Close” Proposal Published in Federal Register
The SEC proposed rule titled, Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting, has been published in the federal register.
Updated Yield Curves and Segment Rates for DB Plans
The IRS has issued Notice 2023-5, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
IRS Announces Applicable Federal Rates for January 2023
The IRS has issued Revenue Ruling 2023-1, which contains the applicable federal rates (AFR) for January 2023.
How IRS Notice 2022-53 Affects Beneficiaries
IRS will not enforce 50% excess accumulation penalty tax for certain beneficiaries.
PBGC Updates Interest Assumptions for Valuing Benefits
The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the first quarter of 2023.
Federal Prime Interest Rate Increased to 7.50 Percent
Effective December 14, 2022, the federal prime interest rate increased from 7 percent to 7.50 percent.
Proposed Regulations to Update Mortality Tables Delayed
Earlier this year, the IRS released proposed regulations to update the mortality tables that are used to calculate minimum required contributions for single-employer defined benefit (DB) pension plans.
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