News

IRS Announces Deadline Relief for Oklahoma Storms

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

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS Announces Deadline Relief for Florida Storms

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

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Benefit Plan

Defined Contribution Plan

IRA

DOL Reports to Congress on Prior Pension Risk Transfer Guidance

The Department of Labor has reported to Congress on Interpretive Bulletin 95-1, pursuant to a directive under Section 321 of SECURE 2.0.

FuturePlan ERISA Team

DOL

Fiduciary Issues

Defined Benefit Plan

Defined Contribution Plan

SECURE 2.0

Retirement Plan Disaster Assistance May Be Available for Iowa Storms

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 24, 2024, for Iowa severe storms, flooding, straight-line-winds, and tornadoes.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

IRS Releases Guidance on Certain SECURE 2.0 Penalty Tax Exceptions

The IRS has issued Notice 2024-55, providing guidance on emergency personal expense distributions and domestic abuse victim distributions that are effective after December 31, 2023 under SECURE 2.0.

FuturePlan ERISA Team

SECURE 2.0

Defined Contribution Plan

IRS

ERISA Insights

Retirement Plan Disaster Assistance May Be Available for Florida Severe Storms

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 17, 2024, for Florida severe storms, straight-line winds, and tornadoes.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Tennessee Severe Weather

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 17, 2024, for Tennessee severe weather and tornadoes.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Hawaii Severe Storms

The Federal Emergency Management Agency issued a Major Disaster Declaration on June 17, 2024, for Hawaii severe storms, flooding, and landslides.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

The Internal Revenue Service has issued Notice 2024-53, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.

FuturePlan ERISA Team

IRS

IRS Guidance

Defined Contribution Plan

Defined Benefit Plan

IRS Announces Applicable Federal Rates for July

The IRS has issued Revenue Ruling 2024-13, which contains the applicable federal rates (AFR) for July 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

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