Widespread Effects of Recent Pronouncement and Legislation

On September 16, 2005, the IRS released Announcement 2005-70 outlining numerous retirement plan-related relief for victims of Hurricane Katrina. In addition, on September 23, 2005, President Bush signed legislation (Katrina Emergency Tax Relief Act of 2005) that grants substantial economic relief to those affected by Hurricane Katrina. Below is an article summarizing some of the relief that has been granted by the recent legislation. BISYS Retirement Services will be providing additional analysis as follow-up guidance is released.

PDFRetirement Plans Bulletin Vol. 26 No. 10