Retirement Plan Disaster Assistance May Be Available for Georgia, Nebraska, Washington, Kansas, and New York
The Federal Emergency Management Agency issued Major Disaster Declarations on September 24, 2024, for the following locations: Georgia Tropical Storm Debby, Nebraska severe storms, Washington wildfires, Kansas severe storms, and New York remnants of Tropical Storm Debby.
New Bill Allowing CITs in 403(b) Plans Introduced in Senate
Included in this bill is a section that would allow 403(b) plans to invest in collective investment trusts (CITs).
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.
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.
Prime Interest Rate Lowered to 8 Percent
Effective September 19, 2024, the prime interest rate decreased from 8.50 percent to 8 percent.
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations
The Internal Revenue Service has issued Notice 2024-67, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations.
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.
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.
IRS Announces Applicable Federal Rates for October
The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates for October 2024.
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.
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