defined contribution plan

The IRS has issued Notice 2023-75, which contains the 2024 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

The Pension Benefit Guarantee Corporation (PBGC) has updated its table titled, “Present Value of PBGC Maximum Guarantee.

The Department of Labor (DOL) has released a new proposed rule updating the definition of an investment advice fiduciary under ERISA.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on October 26, 2023, for severe storms, straight-line winds, tornadoes, and flooding in Kansas.

Senators John Hickenlooper (D-CO) and Thom Tillis (R-NC), and Representatives Terri Sewell (D-AL) and Lloyd Smucker (R-PA) have re-introduced the Retirement Savings for Americans Act.

The IRS has issued Notice 2023-73, specifying the mortality table used in determining minimum present value under IRC 417(e)(3) and ERISA section 205(g)(3).

The Federal Emergency Management Agency issued a disaster declaration on October 18, 2023, for California Tropical Storm Hilary, for the incident period of August 19 – August 21, 2023.

The IRS has announced an additional postponement of certain tax-related deadlines for victims of severe winter storms beginning on March 9, 2023, January 8, 2023, and December 27, 2022.

Representative Jill Tokuda (D-HI) has introduced HR 5873, the Natural Disaster Tax Relief Act of 2023.

The IRS has issued Revenue Ruling 2023-20, which contains the applicable federal rates (AFR) for November 2023.