The Federal Emergency Management Agency issued Major Disaster Declarations on September 20, 2024, for the following disasters: New York severe storm and flooding, Illinois severe storms, tornadoes, straight-line winds, and flooding, and Connecticut severe storm, flooding, landslides and mudslides.
The House passed H.R. 5339, the Roll back ESG To Increase Retirement Earnings Act (RETIRE Act), by a vote of 217-206.
Effective September 19, 2024, the prime interest rate decreased from 8.50 percent to 8 percent.
The IRS has announced the postponement of certain tax-related deadlines for victims of Tropical Storm Debby in Pennsylvania.
Recent legislation passed by Congress includes several provisions that enhance the ability of workers to increase their retirement savings.
The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates for October 2024.
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 16, 2024, for Louisiana hurricane Francine.
The IRS has indicated that application steps for pre-approved plan document providers seeking to obtain IRS approval of defined contribution and defined benefit arrangements is changing to incorporate electronic filing requirements.
The Federal Emergency Management Agency issued a Major Disaster Declaration on September 11, 2024, for Vermont severe storms and flooding and for Pennsylvania tropical storm Debby.
The Department of Labor has issued a compliance assistance release clarifying that cybersecurity guidance issued in April 2021 applies to all types of ERISA plans.