regulatory and legislative

Retirement Plan Disaster Assistance May Be Available for Alaska Flooding

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 16, 2024, for Alaska flooding.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

IRS Releases Guidance on Inadvertent Benefit Overpayments Under SECURE 2.0

The Internal Revenue Service has released Notice 2024-77, Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments.

FuturePlan ERISA Team

IRS

IRS Guidance

Retirement Spotlight

Defined Contribution Plan

IRA

SECURE 2.0

IRS Announces Applicable Federal Rates for November

The IRS has issued Revenue Ruling 2024-24 which contains the applicable federal rates (AFR) for October 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

IRS Announces Deadline Relief for Hurricane Milton in Florida

The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Milton in Florida until May 1, 2025.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 11, 2024, for Florida Hurricane Milton.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

PBGC Posts 2025 Premium Rates

The Pension Benefit Guarantee Corporation has determined premium rates applicable for the 2025 plan year in accordance with indexing rules provided in ERISA Section 4006.

FuturePlan ERISA Team

Defined Benefit Plan

Employee and Retiree Access to Justice Act Re-proposed

Representative Mark DeSaulnier (D-CA) has introduced HR 9820 – the Employee and Retiree Access to Justice Act.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

Legislative updates

2025 Taxable Wage Base Announced

The Social Security Administration has issued the 2025 adjustments for benefits and certain other limitations that are subject to annual cost-of-living adjustment indices.

FuturePlan ERISA Team

Legislative updates

Defined Contribution Plan

Proposal Introduced to Allow Catch-Ups for Family Caregivers

Representative Brittany Pettersen (D-Co), and co-sponsor Maria Salazar (R-FL), have introduced H.R. 9764, the Catching Up Family Caregivers Act.

FuturePlan ERISA Team

Legislative updates

ABLE Account

Retirement Plan Disaster Assistance May Be Available for Arizona Watch Fire

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 4, 2024, for Arizona Watch Fire.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

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