defined contribution plan

Retirement Plan Disaster Assistance May Be Available for Alaska and Wyoming Disasters

The Federal Emergency Management Agency issued Major Disaster Declarations on November 13, 2024, for Alaska landslides and Wyoming wildfires.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Deadline Relief for South Dakota Severe Storms

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds and flooding in the Cheyenne River Sioux Tribe.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Deadline Relief for Saint Regis Mohawk Tribe Severe Storms and Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms and flooding in the Saint Regis Mohawk Tribe until February 3, 2025.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Prime Interest Rate Decreased to 7.75 Percent

Effective November 8, 2024, the prime interest rate decreased to 7.75 percent.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

IRS Announces Deadline Relief for Havasupai Tribe in Arizona Flooding

The IRS has announced the postponement of certain tax-related deadlines for victims of flooding in the Havasupai Tribe in Arizona.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Florida Hurricane Milton

The Federal Emergency Management Agency issued a Major Disaster Declaration on November 5, 2024, for Seminole Tribe of Florida Hurricane Milton.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

PBGC Updates Maximum Guarantee Table for 2025

The Pension Benefit Guarantee Corporation (PBGC) has updated its table titled, “Present Value of PBGC Maximum Guarantee.

FuturePlan ERISA Team

Defined Contribution Plan

Defined Benefit Plan

Retirement Plan Disaster Assistance May Be Available in New Mexico and South Dakota

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 1, 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

IRS Releases 2025 Cost-of-Living Adjusted Retirement Savings Limitations

The IRS has issued Notice 2024-80, which contains the 2025 cost-of-living increases for qualified retirement plan dollar limitations on benefits and contributions under the Internal Revenue Code (IRC).

FuturePlan ERISA Team

IRS

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS Guidance

Washington Pulse - IRS Releases Guidance for LTPT Employees of ERISA 403(b) Plans

The Internal Revenue Service recently issued Notice 2024-73, providing guidance regarding the participation of long-term, part-time employees in 403(b) plans subject to Title I of the Employee Retirement Income Security Act.

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

Washington Pulse

SECURE 2.0

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