IRS Finalizes Rule to Update Minimum Present Value Requirements for DB Plan Distributions
The IRS has issued a final rule to update minimum present value requirements for defined benefit plan distributions.
OMB Completes Review of DOL Automatic Portability Exemption Proposal
A Department of Labor proposed rule titled Exemption for Certain Automatic Portability Transactions has been removed from the Office of Management and Budget’s list for review.
IRS Issues Limited Guidance for PLESAs Under SECURE 2.0
The IRS has released Notice 2024-22, providing guidance on anti-abuse rules under Section 127 of the SECURE 2.0 Act with respect to Pension-Linked Emergency Savings Accounts.
PBGC Announces 2024 Inflation Adjustments for Civil Penalties
The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information.
DOL Issues Final Rule to Clarify Employee or Independent Contractor Status
The Department of Labor Wage and Hour Division has issued a news release and final rule to clarify whether a worker qualifies as an employee or an independent contractor under the Fair Labor Standards Act.
Roth IRA Rollover Proposal Introduced in House
Representatives Darin LaHood (R-IL), and Linda Sanchez (D-CA) have introduced H.R. 6757.
SECURE 2.0 Technical Corrections Draft Released
The Senate and House committees of jurisdiction have released a draft containing technical corrections and other clarifications to SECURE 2.0.
Disaster Assistance May Be Available for California Hurricane Hilary
The Federal Emergency Management Agency issued a disaster declaration on November 21, 2023, for California Hurricane Hilary, for the incident period of August 19-21, 2023.
Proposal Would Increase Retirement Plan Access for Younger Workers
Senator Bill Cassidy (R-LA), and co-sponsor Tim Kaine (D-VA) have introduced the “Helping Young Americans Save for Retirement Act”.
Increased Retirement Plan Startup Credit Proposed for Micro Businesses
Representative Claudia Tenney (R-NY) has introduced the Retirement Investment in Small Employers (RISE) Act.
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