New Bill Allowing CITs in 403(b) Plans Introduced in Senate
Included in this bill is a section that would allow 403(b) plans to invest in collective investment trusts (CITs).
Retirement Plan Disaster Assistance May Be Available for New York, Illinois, and Connecticut Disasters
The Federal Emergency Management Agency issued Major Disaster Declarations on September 20, 2024, for the following disasters: New York severe storm and flooding, Illinois severe storms, tornadoes, straight-line winds, and flooding, and Connecticut severe storm, flooding, landslides and mudslides.
Proposal to Roll Back ESG Investing Approved in House
The House passed H.R. 5339, the Roll back ESG To Increase Retirement Earnings Act (RETIRE Act), by a vote of 217-206.
Prime Interest Rate Lowered to 8 Percent
Effective September 19, 2024, the prime interest rate decreased from 8.50 percent to 8 percent.
IRS Announces Deadline Relief for Pennsylvania Tropical Storm Debby
The IRS has announced the postponement of certain tax-related deadlines for victims of Tropical Storm Debby in Pennsylvania.
Washington Pulse - New Guidance Released on Matching Contributions for Qualified Student Loan Payments
Recent legislation passed by Congress includes several provisions that enhance the ability of workers to increase their retirement savings.
IRS Announces Applicable Federal Rates for October
The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates for October 2024.
Retirement Plan Disaster Assistance May Be Available for Louisiana Hurricane Francine
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 16, 2024, for Louisiana hurricane Francine.
IRS Announces Electronic Pre-Approved Plan Submission Procedures
The IRS has indicated that application steps for pre-approved plan document providers seeking to obtain IRS approval of defined contribution and defined benefit arrangements is changing to incorporate electronic filing requirements.
Retirement Plan Disaster Assistance May Be Available for Pennsylvania and Vermont
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 11, 2024, for Vermont severe storms and flooding and for Pennsylvania tropical storm Debby.
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