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)”.
IRS Announces Deadline Relief for Alaska Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of Alaska severe storms, landslides, and mudslides.
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.
Disaster Assistance May Be Available for Maine Severe Storms
The Federal Emergency Management Agency issued a disaster declaration on March 20, 2024, for Maine severe storms and flooding.
Disaster Assistance May Be Available for Rhode Island Severe Storms
The Federal Emergency Management Agency issued disaster declaration 4765 and 4766 on March 20, 2024, for Rhode Island severe storms and flooding.
SECURE 2.0 Expands Roth Options for Employer-Sponsored Retirement Plans
The SECURE 2.0 Act contains provisions that allow individuals to place more of their assets into Roth accounts.
SECURE 2.0 Permits De Minimis Financial Incentives
For plan years beginning after December 29, 2022, employers that sponsor 401(k) or 403(b) plans may offer employees a “de minimis” financial incentive, such as a gift card, as long as the cost of the incentive is paid by the employer and not paid from plan assets.
Disaster Assistance May Be Available for Alaska Severe Storm
The Federal Emergency Management Agency issued a disaster declaration on March 15, 2024, for Alaska severe storm, landslides, and mudslides.
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