Regulatory and Legislative

IRS Announces Applicable Federal Rates for October

The IRS has issued Revenue Ruling 2024-21 which contains the applicable federal rates (AFR) for October 2024. These rates are used for such purposes as calculating distributions from retirement savings arrangements that meet the requirements for substantially equal periodic payments (a 10 percent early distribution penalty tax exception), also referred to as “72(t) payments.”

IRS IRS Guidance IRA Defined Contribution Plan Defined Benefit Plan

Regulatory and Legislative

ESOP Proposed Rule on Hold

A proposed rule and class exemption issued by the Department of Labor’s Employee Benefits Security Administration providing guidance on ESOP transactions has been withdrawn from publication.

Regulatory and Legislative

IRS Announces Applicable Federal Rates for February

The IRS has issued Revenue Ruling 2025-05, which contains the applicable federal rates (AFR) for February 2025.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for Alaska

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 15, 2025, for Alaska severe storm and flooding.