Defined contribution plan

The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.

Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department indicating that Congress intends to introduce technical correction legislation to correct erroneous statutory language for several SECURE 2.0 provisions in order to accurately carry out Congressional intent.

This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0

The U.S. District Court for the Northern District of Illinois has ruled in favor of the plaintiffs in a motion to dismiss a lawsuit against Pactiv Evergreen Services, Inc., which claims it breached its fiduciary duty to a 401(k) plan it sponsors.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 17, 2023, for Tennessee severe thunderstorms and possible strong tornadoes, for the incident period of March 1, 2023 – March 3, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 9, 2023, for severe storms, straight-line winds, flooding, landslides, and mudslides in Kentucky, for the incident period of February 15, 2023 – February 20, 2023.

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

Effective May 3, 2023, the prime interest rate increased from 8.00 percent to 8.25 percent.

The IRS recently released proposed regulations regarding the use of forfeitures within qualified retirement plans.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 27, 2023, for severe storms, tornadoes, and flooding in Florida, for the incident period of April 12, 2023 – April 14, 2023.