Regulatory and Legislative

IRS Releases Guidance on Inadvertent Benefit Overpayments Under SECURE 2.0

The Internal Revenue Service has released Notice 2024-77, Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments. The notice provides interim guidance on the special rules applicable to benefit overpayments and rollovers of such inadvertent benefit payments added to Internal Revenue Code (IRC) Sections 414 and 402(c) by Section 301(b) of SECURE 2.0.

The IRS is soliciting comments on the content of this Notice.

IRS IRS Guidance Retirement Spotlight Defined Contribution Plan IRA SECURE 2.0

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available in Nebraska and New York

The Federal Emergency Management Agency issued Major Disaster Declarations on October 21, 2024, for the following locations: Nebraska severe storms, straight-line winds, tornadoes, and flooding, and New York severe storm and flooding.

Regulatory and Legislative

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service has issued Notice 2024-76, 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 North Carolina Potential Tropical Cyclone Eight

The Federal Emergency Management Agency issued a Major Disaster Declaration on October 19, 2024, for North Carolina Potential Tropical Cyclone Eight.