Regulatory and Legislative

Disaster Distribution Proposal Introduced in House

Representative Jill Tokuda (D-HI) has introduced HR 5873, the Natural Disaster Tax Relief Act of 2023. The bill would permit affected plan participants and IRA owners to receive qualified disaster distributions of up to $100,000 per disaster without penalty from qualified plans and IRAs for certain qualified disasters with incident periods beginning during calendar year 2023.

Legislative updates Defined Contribution Plan IRA

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Missouri, Oregon, Alaska

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.

Regulatory and Legislative

DOL Announces 2025 Inflation Adjustments for Civil Penalties

The Department of Labor has published in the Federal Register several inflation-adjusted penalty amounts for certain failures associated with qualified retirement plans.

Regulatory and Legislative

PBGC Announces 2025 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 and for failure to provide certain multiemployer notices.