Regulatory and Legislative

DOL Amendment to Abandoned Plan Program Has Left OMB

Department of Labor (DOL) guidance titled “Amendment of Abandoned Plan Program” that has been with the Office of Management and Budget (OMB) since last July, has left OMB. According to the abstract filed with OMB, the principal purpose of the amendments is to permit bankruptcy trustees to use the DOL’s program to terminate and wind up the plans of sponsors in liquidation under Chapter 7 of the U.S. Bankruptcy Code.

Defined Benefit Plan Defined Contribution Plan IRS IRS Guidance

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storm Victims

The Federal Emergency Management Agency issued a disaster declaration on April 30, 2024, for Oklahoma Severe Storms.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Kansas Winter Storm

The Federal Emergency Management Agency issued a disaster declaration on April 28, 2024, for a Kansas Winter Storm, for the incident period of January 8, 2024 – January 16, 2024.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Washington Storms

The Federal Emergency Management Agency issued a disaster declaration on April 28, 2024, for Washington severe winter storms, straight-line winds, flooding, landslides, and mudslides.