regulatory and legislative

IRS Releases FAQs on SECURE 2.0 Disaster Relief

The Internal Revenue Service has released a set of frequently asked questions regarding rules for distributions from retirement plans and individual retirement arrangements (IRAs) under Section 331 of SECURE 2.0 for individuals affected by federally declared major disasters.

FuturePlan ERISA Team

IRS

IRA

Defined Contribution Plan

IRS Guidance

IRS Reminds Businesses of SECURE 2.0 Impacts on Form W-2

The Internal Revenue Service is reminding businesses who sponsor a retirement plan that certain provisions of SECURE 2.0 that became effective in 2023 may impact their Form W-2 reporting requirements.

FuturePlan ERISA Team

IRS

IRA

IRS Guidance

Defined Contribution Plan

SECURE 2.0

Retirement Plan Disaster Assistance May Be Available for Ohio Tornadoes

The Federal Emergency Management Agency issued a disaster declaration on May 2, 2024, for Ohio tornadoes, for the incident period of March 14, 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

IRS and DOL Release Guidance for PLESA Provisions

While SECURE 2.0 provided the basic framework to establish PLESAs, the IRS was required to issue regulations to address remedies that employers can use to prevent misuse of these types of accounts.

FuturePlan ERISA Team

Defined Contribution Plan

DOL

IRA

IRS

Retirement Spotlight

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storm Victims

The Federal Emergency Management Agency issued a disaster declaration on April 30, 2024, for Oklahoma Severe Storms.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Kansas Winter Storm

The Federal Emergency Management Agency issued a disaster declaration on April 28, 2024, for a Kansas Winter Storm, for the incident period of January 8, 2024 – January 16, 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Retirement Plan Disaster Assistance May Be Available for Washington Storms

The Federal Emergency Management Agency issued a disaster declaration on April 28, 2024, for Washington severe winter storms, straight-line winds, flooding, landslides, and mudslides.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

DOL Releases Final Fiduciary Rule for Investment Advisors

The Department of Labor (DOL) has released a final rule updating the definition of an investment advice fiduciary under ERISA.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Fiduciary Issues

IRA

Disaster Assistance May Be Available for California Severe Winter Storm

The Federal Emergency Management Agency issued a disaster declaration on April 19, 2024, for California severe winter storm.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Disaster Assistance May Be Available for California Severe Storms and Flooding

The Federal Emergency Management Agency issued a disaster declaration on April 19, 2024, for California severe storms and flooding.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

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