News

2023 Inflation Adjustments for Civil Penalties

The PBGC has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices.

FuturePlan ERISA Team

DOL

Distributions May Be Permitted for Alabama Severe Storms

FEMA has issued a disaster declaration for severe storms, straight-line winds, and tornadoes in Alabama, for January 12, 2023.

FuturePlan ERISA Team

Defined Contribution Plan

Distributions May Be Permitted for Washington Severe Winter Storm

FEMA has issued a disaster declaration for severe winter storm, straight-line winds, flooding, landslides, and mudslides in Washington, for the period of November 3, 2022 – November 8, 2022.

FuturePlan ERISA Team

Defined Contribution Plan

Distributions May Be Permitted for California Winter Storms

FEMA has issued a disaster declaration for severe winter storms, flooding, landslides, and mudslides in California, starting on December 27, 2022.

FuturePlan ERISA Team

Defined Contribution Plan

Distributions May Be Permitted for Georgia Severe Weather

FEMA has issued a disaster declaration for severe weather in Georgia, for January 12, 2023.

FuturePlan ERISA Team

Defined Contribution Plan

2023 Inflation Adjustments for Civil Penalties

The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

SECURE 2.0 is Congress’s Retirement Enhancement Encore

This bill was included in the Consolidated Appropriations Act of 2023, which was signed into law on December 29, 2022.

FuturePlan ERISA Team

Washington Pulse

SECURE 2.0

Defined Contribution Plan

IRA

Legislative updates

IRS Updates Determination Letter and VCP Submission Information

The IRS has issued Revenue Procedure (Rev. Proc.) 2023-4, which updates guidance on determination letter submission procedures.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS

IRS Guidance

Deadline Relief for California Severe Winter Storms

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

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

President Signs Appropriations Bill, Containing the SECURE 2.0 Act of 2022, Into Law

Yesterday, President Biden signed the Consolidated Appropriations Act of 2023 into law, which included the SECURE 2.0 Act of 2022.

FuturePlan ERISA Team

Legislative updates

SECURE 2.0

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