DOL Amendment to Abandoned Plan Program Has Left OMB
Department of Labor guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget since last July, has left OMB.
How IRS Notice 2024-35 Affects Beneficiaries
IRS Notice 2024-35 states that final RMD regulations, when released, are anticipated to apply no earlier than the 2025 distribution calendar year.
Updated Yield Curves and Segment Rates for DB Plans
The Internal Revenue Service has issued Notice 2024-34, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
DOL Fiduciary Rule Has Left OMB
A final rule titled “Retirement Security Rule: Definition of an Investment Advice Fiduciary” has left the Office of Management and Budget.
Disaster Assistance May Be Available for Alaska Severe Storm
The Federal Emergency Management Agency issued a disaster declaration on April 6, 2024, for Alaska severe storm, flooding, and landslides, for the incident period of November 20, 2023.
Deadline Relief for Maine Severe Storms and Flooding
The IRS has announced the postponement of certain tax-related deadlines for victims of Maine severe storms and flooding.
Agencies Extend Comment Deadline on Reporting and Disclosure RFI Under SECURE 2.0
The Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation have extended the deadline for comments related to a Request for Information released in January pursuant to Section 319 of SECURE 2.0.
DOL Releases Final Rule on QPAM Exemptions
The Department of Labor has issued a final rule “Amendment to Prohibited Transaction Class Exemption 84-14 (PTE 84-14) for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)”.
DOL Releases Final Rule Clarifying Employee or Independent Contractor Status
The Department of Labor issued a final rule to assist employers when determining whether a worker is considered an employee or an independent contractor under the Fair Labor Standards Act.
DOL Releases Proposed Regulations for Automatic Portability Transactions
The Department of Labor has released proposed regulations related to the implementation of section 120 of the SECURE 2.0 Act.
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