Regulatory and Legislative

Retirement Protection Act Proposed in House

Representatives David Schwikert (R-AZ) and Byron Donalds (R-FL) have introduced H.R. 8579, the Retirement Protection Act. The bill proposes modification of the saver’s credit by replacing the three-tier formula with a single 50 percent credit percentage on contributions up to $2,000, with phase outs beginning at certain AGI thresholds. The proposal also provides for a one year $4,000 temporary increase in retirement contribution limits.

Legislative updates

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Crow Tribe of Montana

The Federal Emergency Management Agency issued a Major Disaster Declaration on November 14, 2024, for Crow Tribe of Montana severe storm and straight-line winds.

Regulatory and Legislative

Deadline Relief for New Mexico Severe Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in Chaves County, New Mexico.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Alaska and Wyoming Disasters

The Federal Emergency Management Agency issued Major Disaster Declarations on November 13, 2024, for Alaska landslides and Wyoming wildfires.