Regulatory and Legislative

Su Nominated as Secretary of Labor

President Biden has announced his intent to nominate Julie Su to serve as Secretary of the Department of Labor. Su currently serves as the Deputy Secretary of Labor, a position she has held since her Senate confirmation in July 2021. Prior to that she served as Secretary of the California Labor and Workforce Development Agency. Su will need a majority vote in the Senate in order to be appointed to the position.

DOL

Regulatory and Legislative

IRS Releases Interim Guidance on Inadvertent Benefit Overpayments

IRS Releases Interim Guidance on Inadvertent Benefit Overpayments

The Internal Revenue Service recently issued Notice 2024-77, providing interim guidance on the treatment of “inadvertent benefit overpayments” from defined benefit and defined contribution plans as provided by Section 301 of the SECURE 2.0 Act of 2022.