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Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Vermont Severe Winter Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for a Vermont severe winter storm for the incident period of January 9, 2024–January 13, 2024.

April 22 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Winter Storm

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe winter storm, for the incident period of January 30 – January 31, 2024.

April 22 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Storms and Flooding

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 19, 2024, for California severe storms and flooding, for the incident period of January 31, 2024 – February 9, 2024.

April 22 2024

Industry & Regulatory News

How IRS Notice 2024-35 Affects Beneficiaries

Proposed RMD regulations were released in February 2022.

Under the proposed regulations, if an account owner dies on or after their required beginning date, beneficiaries who are subject to the 10-year rule must take annual life expectancy payments during the first nine years.

April 19 2024

Industry & Regulatory News

DOL Amendment to Abandoned Plan Program Has Left OMB

Department of Labor (DOL) guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget (OMB) since last July, has left OMB. According to the abstract filed with OMB, the principal purpose of the amendments is to permit bankruptcy trustees to use the DOL’s program to terminate and wind up the plans of sponsors in liquidation under Chapter 7 of the U.S. Bankruptcy Code.

April 19 2024

Industry & Regulatory News

IRS Provides Further RMD Transition Relief Under the SECURE Act

The IRS has issued Notice 2024-35 to provide additional transition relief for certain specified RMDs for 2024.

April 17 2024

Industry & Regulatory News

IRS Announces Applicable Federal Rates for May

The IRS has issued Revenue Ruling 2024-09, which contains the applicable federal rates (AFR) for May 2024.

April 17 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oregon Severe Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for Oregon severe winter storms, straight-line-winds, landslides, and mudslides, for the incident period of January 10, 2024–January 22, 2024.

April 15 2024

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for California Severe Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 13, 2024, for California severe winter storms, tornadoes, flooding, landslides, and mudslides for the incident period of January 31 – February 9, 2024.

April 15 2024

Industry & Regulatory News

DOL Releases Proposed Retirement Savings Lost and Found Information Collection

The Department of Labor (DOL) is proposing to collect information in order to establish the Retirement Savings Lost and Found online searchable database described in Section 523 of ERISA as amended by Section 303 of SECURE 2.0.

April 15 2024