Defined contribution plan

The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments under Internal Revenue Code Sections 4980H(a) and 4980H(b)(1).

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 20, 2023, for severe storm and flooding in Vermont, for the incident period of December 22, 2022, to December 24, 2022.

The Department of Labor (DOL) has reopened the comment period for receiving written comments related to prohibited transaction class exemption 84-14 (the Proposed QPAM Amendment) to April 6, 2023.

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

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and flooding in New Hampshire, for the incident period of December 22, 2022, to December 25, 2022.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and snowstorm in New York, for the incident period of December 23, 2022, to December 28, 2022.

The Securities and Exchange Commission has proposed additional requirements for broker-dealers, investment companies, registered investment advisers and transfer agents (“covered institutions”) aimed at further protecting the privacy of consumer financial information.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 10, 2023, for severe winter storms, flooding, landslides, and mudslides in California, for the incident period beginning March 9, 2023.

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2023.

Credible studies have concluded that employers who automatically enroll plan participants into a retirement plan help place them on a lifetime path to meaningful savings.