OFFICIAL PUBLICATION OF THE COMMUNITY BANKERS ASSOCIATION OF KANSAS
January 29, 2024
The Internal Revenue Service (IRS) has released a proposed regulation reflecting statutory changes related to long-term, part-time (LTPT) employees made by the SECURE Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (SECURE 2.0). This proposed regulation would amend Treasury Regulation (Treas. Reg.) 1.401(k)-5 to reflect the rules for LTPT employees, including specific eligibility and vesting requirements. The proposed regulation also provides guidance regarding employer contributions with respect to LTPT employees and the impact that LTPT employees will have on nondiscrimination, coverage testing and top-heavy benefits.
Data is king. Everyone — from Big Tech to retailers to systems providers — prioritizes data for its ability to deliver on revenue expectations. Looking to improve the customer experience? Data tells a story. Want to strengthen fraud prevention? Data provides protections. Striving to prioritize the projects on your to-do list? Data leads the way.
Congratulations to the banks celebrating January and February anniversaries as chartered institutions! January 153 yearsFirst National Bank — Fredonia 148 yearsBank of the Flint Hills — Wamego 140 yearsCitizens State Bank — Cheney 137 yearsThe Bank of Holyrood — Holyrood 120 yearsBendena State Bank — Bendena 116 yearsCitizens State Bank of Marysville — Marysville 110
Jeffrey B. Kuzbel FHLBank Topeka is pleased to announce that Jeffrey B. Kuzbel has been selected as its next president and CEO. Kuzbel has served as FHLBank’s chief financial officer since April 2021. He transitioned to his new role at FHLBank on Jan. 1, 2024. Joan M. Bowen Jeri Rowe The Trust Company of Kansas
There are changes that arrived with the new year of 2024 to Home Mortgage Disclosure Act (HMDA) compliance for banks and thrifts in many areas. No, the Consumer Financial Protection Bureau (CFPB) is not repealing Regulation C or adding more detail to the required data we collect and report. The existing rule is still in place.
As we have navigated the holiday season and hopefully had some time to wrap up some gifts as well as a successful 2023, let’s now spend a few minutes looking into pockets of relative value in the bond market. To get there, we should remind ourselves of the vagaries and ironies of fixed-income investing. In my 35 years of portfolio management participation, I’ve noticed some recurring themes and doctrines, which have both positives and less-than-positives: