defined contribution plan

Retirement Plan Disaster Assistance May Be Available for New York, Illinois, and Connecticut Disasters

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.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Proposal to Roll Back ESG Investing Approved in House

The House passed H.R. 5339, the Roll back ESG To Increase Retirement Earnings Act (RETIRE Act), by a vote of 217-206.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

Fiduciary Issues

Legislative updates

Prime Interest Rate Lowered to 8 Percent

Effective September 19, 2024, the prime interest rate decreased from 8.50 percent to 8 percent.

FuturePlan ERISA Team

DOL

Defined Contribution Plan

IRS Announces Deadline Relief for Pennsylvania Tropical Storm Debby

The IRS has announced the postponement of certain tax-related deadlines for victims of Tropical Storm Debby in Pennsylvania.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

Washington Pulse - New Guidance Released on Matching Contributions for Qualified Student Loan Payments

Recent legislation passed by Congress includes several provisions that enhance the ability of workers to increase their retirement savings.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS

Legislative updates

Washington Pulse

IRS Announces Applicable Federal Rates for October

The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates for October 2024.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Contribution Plan

Defined Benefit Plan

Retirement Plan Disaster Assistance May Be Available for Louisiana Hurricane Francine

The Federal Emergency Management Agency issued a Major Disaster Declaration on September 16, 2024, for Louisiana hurricane Francine.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

Defined Benefit Plan

Defined Contribution Plan

IRS Announces Electronic Pre-Approved Plan Submission Procedures

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.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

IRS

IRS Guidance

Retirement Plan Disaster Assistance May Be Available for Pennsylvania and Vermont

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.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

IRS

IRS Guidance

DOL Clarifies Cybersecurity Guidance

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.

FuturePlan ERISA Team

DOL

Defined Benefit Plan

Defined Contribution Plan

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