IRS Provides Additional RMD Transition Relief Under SECURE, SECURE 2.0
The IRS has issued Notice 2023-54 to provide transition relief for required minimum distributions in connection with the change in required beginning date to age 73 under SECURE 2.0, and guidance for certain specified RMDs for 2023.
SEC Finalizes Money Market Fund Reforms
The Securities and Exchange Commission (SEC) has released a final rule that amends certain rules governing money market funds.
Proposal Allowing Annuities as QDIA Re-Introduced
Representatives Donald Norcross (D-NJ) and co-sponsor Tim Walberg (R-MI) have re-introduced the Lifetime Income for Employees Act. H.R. 3942 would allow annuities as a default investment in 401(k) plans.
SECURE 2.0 Will Allow a Special Emergency Savings Account Within Certain Qualified Plans
Pension-Linked Emergency Savings Accounts
Outbreak Period Ends
The National Emergency in response to COVID-19 that began on March 20, 2020, ended on May 11, 2023.
PBGC Issues Benefits Payable and Allocation Guidance for Single-Employer Plans
The Pension Benefit Guarantee Corporation has issued a final rule updating regulations regarding benefits payable in terminated single-employer plans and allocation of assets in single-employer plans.
Disaster Assistance May Be Available for Maine Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for Maine severe storm and flooding.
Disaster Assistance May Be Available for South Dakota Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 6, 2023, for South Dakota flooding.
Disaster Assistance May Be Available for North Dakota Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on July 5, 2023, for North Dakota flooding.
PBGC Proposes Modification to Information Collected Under Its Missing Participant Program
The Pension Benefit Guaranty Corporation (PBGC) is requesting from the federal Office of Management and Budget (OMB) the authority to modify its information collection procedures under its missing participants program.
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