Defined benefit plan

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 15, 2023, for severe storms, straight-line winds, and tornadoes in Indiana, for the incident period of March 31, 2023, – April 1, 2023.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Tennessee.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 10, 2023, for Kentucky severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides, for the incident period of March 3, 2023 – March 4, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 7, 2023, for severe storms, straight-line winds, and tornadoes in Tennessee, for the incident period of March 31, 2023 – April 1, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 26, 2023, for severe storms, straight-line winds, and tornados in Mississippi, for the incident period of March 24, 2023, to March 25, 2023.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms and snowstorms in New York.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in California.

The IRS has issued Notice 2023-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

President Biden’s fiscal year 2024 budget includes proposed retirement account restrictions for certain taxpayers — similar to those included in the Build Back Better Act passed by the House in 2021 — but left by the wayside enroute to the passage of the Inflation Reduction Act of 2022.

The IRS has issued Notice 2023-19, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.