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Defined contribution plan
Regulatory and Legislative
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. These rates are used for such purposes as calculating distributions from retirement savings arrangements that meet the requirements for substantially equal periodic payments (a 10 percent early distribution penalty tax exception), also referred to as “72(t) payments.”
Regulatory and Legislative
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.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 11, 2024, for Florida Hurricane Milton, for the incident period of October 5, 2024 and continuing.
Regulatory and Legislative
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 (COLA) indices.
Regulatory and Legislative
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.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Arizona Watch Fire
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 4, 2024, for Arizona Watch Fire, for the incident period of July 10 – July 17, 2024.
Regulatory and Legislative
IRA and Employer Plan Disaster Relief
Learn how disaster victims can access their retirement savings.
Regulatory and Legislative
IRS Announces Deadline Relief for Wildfire in Washington
The IRS has announced the postponement of certain tax-related deadlines for victims of wildfires in Washington.
Regulatory and Legislative
IRS Releases 403(b) Long-Term Part-Time Guidance
The IRS has issued Notice 2024-73, providing question-and-answer guidance on long-term, part-time employees in 403(b) plans. Guidance is applicable for plan years beginning after December 31, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Tennessee Tropical Storm Helene
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on October 2, 2024, for Tennessee tropical storm Helene, for the incident period of September 26, 2024 and continuing.