Washington Pulse: IRS Releases Guidance on SECURE 2.0 Provisions
The Internal Revenue Service has released Notice 2024-02, which provides guidance in a question and answer format regarding several provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0).
Updated Yield Curves and Segment Rates for DB Plans
The Internal Revenue Service has issued Notice 2024-21, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
DOL Announces 2024 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.
DOL Issues Final Rule to Clarify Employee or Independent Contractor Status
The Department of Labor Wage and Hour Division has issued a news release and final rule to clarify whether a worker qualifies as an employee or an independent contractor under the Fair Labor Standards Act.
PBGC Announces Changes to e-Filing Portal
The Pension Benefit Guaranty Corporation has indicated they will launch a new and improved e-Filing Portal on February 1, 2024.
PBGC Issues Comprehensive Premium Filing Instructions for 2024 Plan Years
The Department of Labor’s Pension Benefits Guaranty Corporation has issued the 2024 plan year version of its Comprehensive Premium Filing Instructions.
Roth IRA Rollover Proposal Introduced in House
Representatives Darin LaHood (R-IL), and Linda Sanchez (D-CA) have introduced H.R. 6757.
Retirement Plan Disaster Assistance May Be Available for Utah Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on December 23, 2023, for Utah flooding.
IRS Announces Deadline Relief for Tennessee Storms and Tornadoes
The IRS has announced the postponement of certain tax-related deadlines for victims of Tennessee storms and tornadoes.
IRS Provides 2024 Covered Compensation Tables Used in DB Plans
The IRS has issued Revenue Ruling 2024-1, containing the covered compensation tables for the 2024 plan year.
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