News

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration for the following disasters for the period indicated.

The Internal Revenue Service (IRS) has issued Notice 2025-35, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

Senator Thom Tillis (R-NC) and several cosponsors have reintroduced the Improving Disclosure for Investors Act. The bill would require the Securities and Exchange Commission (SEC) to issue guidance allowing the delivery of regulatory documents by electronic delivery. Investors would be able to opt out of electronic delivery at any time and receive paper versions of regulatory documents.  

The Department of Labor (DOL) has announced the launch of its opinion letter program.

A notice of availability and request for comments on DOL information collection activities has left the Office of Management and Budget.

The Department of Labor (DOL) provides an alternative method of compliance with the rules for reporting and disclosing information under Title I of ERISA for special retirement plans set up for a select group of highly compensated employees (e.g., top hat plans).

The Secretary of Labor, Lori Chavez-DeRemer has announced that the Department of Labor (DOL) has rescinded a 2022 compliance release that discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans.

Senators Bill Cassidy (R-LA) and Tim Kaine (D-VA) have re-introduced the Auto Reenroll Act to permit plan sponsors to reenroll non-participating eligible employees at least once every three years unless the individual affirmatively opts out again.

The House of Representatives has passed their version of the reconciliation tax bill—H.R. 1, the One Big Beautiful Bill Act—by a vote of 215-214.

H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Act introduced by Representatives Frank Lucas (R-OK) and several cosponsors in February was one of several bills advanced out of the House Financial Services Committee.