• Hurricane Katrina: Relief for Affected Employee Benefit Plan Sponsors and Participants
  • November 22, 2005 | Authors: Roberta K. Chevlowe; Carrie L. Mitnick
  • Law Firm: Proskauer Rose LLP - New York Office
  • Given that our New Orleans office was directly affected by Hurricane Katrina, our Firm is uniquely aware of the difficult issues that this tragedy has posed for employers and employees. Thankfully, over the last several weeks, Congress, the Internal Revenue Service (IRS) and the U.S. Department of Labor (DOL) have provided relief to assist individuals and employee benefit plans affected by Katrina. Most recently, Congress enacted the Katrina Emergency Tax Relief Act of 2005 (KETRA) and Congress, the IRS and the DOL are considering further actions to alleviate some of the difficulties engendered by this calamity.