DOL Releases Proposed Regulation on Automatic Portability Under SECURE 2.0
The Department of Labor has announced the release of a proposed regulation on automatic portability transactions pursuant to Section 120 of SECURE 2.0.
DOL Posts FAQs on PLESAs Under SECURE 2.0
The Department of Labor has announced the release of a set of frequently asked questions intended to provide general compliance information.
IRS Finalizes Rule to Update Minimum Present Value Requirements for DB Plan Distributions
The IRS has issued a final rule to update minimum present value requirements for defined benefit plan distributions.
Retirement Plan Disaster Assistance May Be Available for Rhode Island Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on January 7, 2024 for Rhode Island severe storms, flooding, and tornadoes.
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).
IRS Announces Applicable Federal Rates for February
The IRS has issued Revenue Ruling 2024-03, which contains the applicable federal rates (AFR) for February 2024.
OMB Completes Review of DOL Automatic Portability Exemption Proposal
A Department of Labor proposed rule titled Exemption for Certain Automatic Portability Transactions has been removed from the Office of Management and Budget’s list for review.
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.
IRS Issues Limited Guidance for PLESAs Under SECURE 2.0
The IRS has released Notice 2024-22, providing guidance on anti-abuse rules under Section 127 of the SECURE 2.0 Act with respect to Pension-Linked Emergency Savings Accounts.
PBGC Announces 2024 Inflation Adjustments for Civil Penalties
The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information.
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