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Regulatory and Legislative
IRS Releases Interim Guidance on Inadvertent Benefit Overpayments
The Internal Revenue Service recently issued Notice 2024-77, providing interim guidance on the treatment of “inadvertent benefit overpayments” from defined benefit and defined contribution plans as provided by Section 301 of the SECURE 2.0 Act of 2022.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Kentucky and Washington
The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 26, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Puerto Rico
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on November 27, 2024.
Regulatory and Legislative
IRS Provides 403(b) Amendment Cycle Updates
The Internal Revenue Service has announced that it intends to begin issuing opinion letters regarding Cycle 2 pre-approved 403(b) plans, including the 2022 cumulative list of changes in those requirements.
Regulatory and Legislative
IRS Announces Deadline Relief for Montana Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and straight-line winds in the Crow Tribe of Montana.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Crow Tribe of Montana
The Federal Emergency Management Agency issued a Major Disaster Declaration on November 14, 2024, for Crow Tribe of Montana severe storm and straight-line winds.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Alaska and Wyoming Disasters
The Federal Emergency Management Agency issued Major Disaster Declarations on November 13, 2024, for Alaska landslides and Wyoming wildfires.
Regulatory and Legislative
Deadline Relief for New Mexico Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in Chaves County, New Mexico.
Regulatory and Legislative
IRS Issues Yield Curve and Segment Rates for DB Plan Calculations
The Internal Revenue Service has issued Notice 2024-81, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
Regulatory and Legislative
Deadline Relief for South Dakota Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds and flooding in the Cheyenne River Sioux Tribe.