Regulatory and Legislative

DOL Launches Online Filing Option for Abandoned Plans

The Department of Labor has launched an online filing system for termination administrators to be able to submit required information for abandoned plans to DOL in addition to existing email and paper-based methods. This initiative was telegraphed in the recent release of an interim final rule that expands the abandoned plan program to Chapter 7 bankruptcy trustees and makes other changes. More information on the rule can be found here.

Defined Benefit Plan Defined Contribution Plan DOL Fiduciary Issues

Regulatory and Legislative

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service has issued Notice 2024-59, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Montana Severe Storm

The Federal Emergency Management Agency issued a Major Disaster Declaration on July 18, 2024, for Montana severe winter storm and flooding.

Regulatory and Legislative

ERISA Insights – IRS Releases RMD Regulations

The Internal Revenue Service has released final regulations that revise existing regulations applicable to RMDs, eligible rollover distributions, and excess accumulation tax.