defined benefit plan

Disaster Assistance May Be Available for Tennessee Severe Storms, Straight-line Winds, and Tornadoes

The Federal Emergency Management Agency (FEMA) issued a disaster declaration for severe storms, straight-line winds, and tornadoes in Tennessee.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

IRA

HSA

Disaster Assistance May Be Available for Kentucky Severe Storms, Straight-line Winds, Tornadoes, Flooding, Landslides, and Mudslides

The Federal Emergency Management Agency (FEMA) issued a disaster declaration for Kentucky severe storms.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

IRA

HSA

Deadline Relief for Tennessee Victims of Severe Storms, Straight-line Winds, and Tornadoes

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Tennessee.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

IRA

HSA

Hardship Distributions May Be Permitted for Mississippi Severe Storms

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 26, 2023, for severe storms, straight-line winds, and tornados in Mississippi.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Deadline Relief for New York Severe Winter Storm and Snowstorm

The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms and snowstorms in New York.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Deadline Relief for California Severe Storms

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

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2023-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

Defined Benefit Plan

Build Back Better Provisions Resurface in White House Budget Proposal

President Biden’s fiscal year 2024 budget includes proposed retirement account restrictions for certain taxpayers.

FuturePlan ERISA Team

IRS

IRA

Defined Benefit Plan

Legislative updates

Updated Yield Curves and Segment Rates for DB Plans

The IRS has issued Notice 2023-19, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Additional Final Form 5500 Guidance Issued

The revisions are effective for plan years beginning on or after January 1, 2023.

FuturePlan ERISA Team

DOL

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

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