"[Notice 2024-63 provides:] [1] Clarification that student loan repayments may be for the employee, the employee's spouse, or the employee's dependent, provided that the employee has a legal obligation to make these payments under the terms of the loan.... [2] Plans may not restrict QSLPs to a particular group of employees, a particular loan type, or a particular educational institution or degree program.... [3] Employers can require that an employee be employed on the last day of the plan year to receive a QSLP, but only if the employer match has a similar requirement."  MORE >>

"Here is what is discussed in the Prop. Reg. in relation to the SECURE 2.0 changes: [1] Updating the RMD age.... [2] Aggregation of annuity contracts for calculation ... [3] Distributions from designated Roth accounts.... [4] Corrective RMDs and 4974 excise taxes ... [5] Spousal election.... [6] Divorce after QLAC.... [7] See-through trust distribution rules.... With comments due September 17, and a hearing scheduled for September 25, 2024, it will be a tight squeeze for the IRS to get this finalized in time for the 2025 effective date[.]"  MORE >>

"This new rule says that if you have multiple IRAs, all of the RMDs due from each of your IRAs in a calendar year must be satisfied before you can do a rollover (or Roth conversion) of any IRAs during that year. (By contrast, you don't have to take RMDs first if you do a direct transfer from one traditional IRA to another traditional IRA -- instead of a 60-day rollover or a conversion.)"  MORE >>

"Private infrastructure debt is emerging as an attractive investment opportunity for public pension investors seeking diversification, steady income, and downside protection. This asset class bridges the gap between the significant need for infrastructure funding and the limited capacity of traditional financial sources to meet this demand. This article explores the growth of private infrastructure debt, its benefits, and its role in portfolio construction for public pension investors."  MORE >>

"Households with higher financial inclusion scores are likelier to have increased income, home ownership, and real estate wealth. They are also more prone to generating intergenerational wealth and breaking free from poverty. Financial inclusion contributes to long-term enhancements in wealth and retirement outcomes, benefiting minority groups and genders while also enhancing family and work resilience, reducing stress, and alleviating drug-related issues."  MORE >>

"Workers who leave a job too early may forfeit some or all of their employer's retirement plan contributions. When starting a new job, some employees wait too long or contribute too little to their new 401(k) plan. Rollovers to a new 401(k) must meet certain IRS requirements or they could become subject to income tax and a penalty."  MORE >>

"[1] How does an annuity help my retirement goals? ... [2] What are the returns and performance guarantees? ... [3] What are the fees? ... [4] What extra benefits are available? ... [5] How does the annuity company stack up?"  MORE >>

"Some target date funds offer free asset management by waiving costs for underlying funds in both mutual fund and CIT TDFs.... If it's a trap, what is it? These free funds are not advertised and are used to compete in the race to lower TDF fees. TDF fees have halved in the past decade due to lawsuits that make low fees a top criterion for choosing a TDF."  MORE >>

"[I]ndividuals and businesses in Puerto Rico that were affected by severe storms and flooding that began on Aug. 13, 2024 ... now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in all 78 municipalities qualify for tax relief."  MORE >>

"[I]ndividuals and businesses in South Dakota that were affected by severe storms, straight-line winds, and flooding that began on June 16, 2024 ... now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Aurora, Bennett, Bon Homme, Brule, Buffalo, Charles Mix, Clay, Davison, Douglas, Gregory, Hand, Hanson, Hutchinson, Jackson, Lake, Lincoln, McCook, Miner, Minnehaha, Moody, Sanborn, Tripp, Turner, Union, and Yankton counties qualify for tax relief."  MORE >>

"The validity of the rule is likely to come before the Third, Fifth and Eleventh Circuits, and the possibility of circuit conflict also means that the issue could potentially receive Supreme Court review. At the same time, states are also undertaking their own efforts to restrict noncompete clauses under state law." [Ryan LLC v. Federal Trade Commission, No. 24-0986 (N.D. Tex. Aug. 20, 2024)]   MORE >>