ERISA News

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2025.

The Senate voted to approve the nomination of Ken Kies as the assistant secretary for tax policy at the Treasury by a vote of 53-45.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, and flooding in Missouri until November 3, 2025.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on June 19, 2025, for Tennessee severe storms, straight-line winds, tornadoes and flooding, for the incident period of April 2 – April 24, 2025. 

The IRS has issued Revenue Ruling 2025-13 which contains the applicable federal rates (AFR) for July 2025. 

The Senate Finance Committee released bill text for inclusion in the Senate's version of the budget reconciliation bill on June 17, 2025.

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.