washington pulse

IRS Releases Final Guidance on Penalty Exceptions for Failure to File Correct Information Returns or Furnish Payee Statements

The Internal Revenue Service has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS

IRS Guidance

Washington Pulse

Washington Pulse: IRS Releases Guidance on SECURE 2.0 Provisions

The Internal Revenue Service has released Notice 2024-02, which provides guidance in a question and answer format regarding several provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0).

FuturePlan ERISA Team

SECURE 2.0

Defined Benefit Plan

Defined Contribution Plan

IRA

IRS

IRS Guidance

Washington Pulse

IRS Issues Proposed Long-Term, Part-Time Regulations

The Internal Revenue Service has released a proposed regulation reflecting statutory changes related to long-term, part-time  employees made by the SECURE Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (SECURE 2.0).

FuturePlan ERISA Team

Defined Contribution Plan

IRS

IRS Guidance

Washington Pulse

SECURE 2.0

DOL Issues Final Rule Updating Davis-Bacon Regulations

The Department of Labor has issued a final rule updating the Davis-Bacon Act and the Davis-Bacon Related Acts nearly 40 years after the Department last completed a comprehensive revision of the guidelines.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

DOL

Washington Pulse

Prevailing Wage

DOL Proposes Expanded Definition of Investment Advice Fiduciary

The proposed rule expands the definition of fiduciary; requires that advice being given to a broader range of retirement investors meet fiduciary standards; and treats more rollover recommendations as fiduciary advice.

FuturePlan ERISA Team

Washington Pulse

DOL

Regulations

IRS Releases Proposed Forfeiture Guidance

The IRS recently released proposed regulations regarding the use of forfeitures within qualified retirement plans.

FuturePlan ERISA Team

Washington Pulse

IRS

Defined Contribution Plan

SECURE 2.0 is Congress’s Retirement Enhancement Encore

This bill was included in the Consolidated Appropriations Act of 2023, which was signed into law on December 29, 2022.

FuturePlan ERISA Team

Washington Pulse

SECURE 2.0

Defined Contribution Plan

IRA

Legislative updates

Congress Approves Appropriations Bill, Containing the SECURE 2.0 Act of 2022, President’s Signature Expected

The House of Representatives has passed the Consolidated Appropriations Act of 2023, HR 2617, today with a 225-201-1 vote.

FuturePlan ERISA Team

Washington Pulse

SECURE 2.0

529 account

ABLE Account

Defined Contribution Plan

IRA

Legislative updates

Big Changes May be in Store for the Davis-Bacon Act

The Davis-Bacon Act (DBA) has played a major role in the construction industry for over 90 years.

FuturePlan ERISA Team

Washington Pulse

Defined Contribution Plan

DOL

IRS Issues Proposed MEP Rule

To help expand access to MEPs, the IRS has released proposed regulations, which provide a welcome exception to the unified plan rule.

FuturePlan ERISA Team

IRS

IRS Guidance

Washington Pulse

Defined Contribution Plan

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