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Industry & Regulatory News
IRS Announces Applicable Federal Rates for October 2023
The IRS has issued Revenue Ruling 2023-18, which contains the applicable federal rates (AFR) for October 2023.
Industry & Regulatory News
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The IRS has issued Notice 2023-66, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Industry & Regulatory News
IRS Announces Deadline Relief for Hurricane Idalia in Parts of Georgia
The IRS has announced the postponement of certain tax-related deadlines for victims of Hurricane Idalia in parts of Georgia.
Industry & Regulatory News
IRS Updates Procedures for Exceptions from Certain Electronic Filing Requirements
The IRS has issued Revenue Procedure 2023-31, which addresses requests for undue hardship waiver or administrative exception from the electronic filing requirements for Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits, and Form 5500-EZ, Annual Return of A One Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Wyoming Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on September 11, 2023, for Wyoming flooding, for the incident period of June 15, 2023.
Industry & Regulatory News
PBGC Updates Interest Assumptions for Valuing Benefits for Fourth Quarter 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 fourth quarter of 2023.
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Georgia Hurricane Idalia
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on September 7, 2023, for Georgia Hurricane Idalia, for the incident period of August 30, 2023.
Industry & Regulatory News
DOL Sends Fiduciary Rule to OMB
The Department of Labor has sent a proposed rule titled “Retirement Security” (formerly titled “Conflict of Interest in Investment Advice”, also known as the Fiduciary Rule) to the Office of Management and Budget (OMB).
Industry & Regulatory News
Retirement Plan Disaster Assistance May Be Available for Maine Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on September 5, 2023, for Maine severe storm and flooding, for the incident period of June 29, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for South Carolina Taxpayers Impacted by Idalia
The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for victims of Idalia in South Carolina.