Defined contribution plan

The Senate passed by unanimous consent two proposals aimed at strengthening Employee Stock Ownership Plans (ESOPs) — S. 1728, the Employee Ownership Representation Act, sponsored by Senator Bill Cassidy (R-LA), and S. 2403, the Retire Through Ownership Act, co-sponsored by Senators Roger Marshall (R-KS) and Tim Kaine (D-VA).

The Internal Revenue Service has issued a draft 2026 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments. Form W-4P is used to withhold federal income tax from periodic retirement plan and IRA payments. Periodic payments are installment payments taken at regular intervals over a period of more than one year.

The Internal Revenue Service (IRS) has released draft Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments. Form 8915-F is used to report certain qualified disaster distributions and repayments of qualified disaster distributions, including 2021 and later disasters.

The Office of Management and Budget has received a proposed rule from the Department of Labor (DOL) titled "Requirement to Provide Paper Statements in Certain Cases-Amendments to Electronic Disclosure Safe Harbors”, pursuant to the requirements of the SECURE 2.0 Act.

The Senate has confirmed Daniel Aronowitz as Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA) as part of a slate of nominees by a 51 to 47 vote. Mr. Aronowitz was nominated by President Trump on February 11, 2025.

The Internal Revenue Service (IRS) has issued final regulations providing guidance for employers regarding new provisions on catch-up contributions as permitted by the SECURE 2.0 Act of 2022 (SECURE 2.0).

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on September 11, 2025, for six disasters throughout the United States.

The IRS has posted 2025 tax year draft Instructions for Form 8889, Health Savings Accounts (HSAs). Taxpayers file Form 8889 to report HSA contributions and associated tax deductions, as well as distributions and any tax or penalty owed for distributions not used for qualified medical expenses.

The Internal Revenue Service has issued Revenue Ruling 2025-17 which contains the applicable federal rates (AFR) for September 2025.

Following President Trump’s recent executive order on alternative assets for 401(k) plans, the Department of Labor has rescinded a 2021 supplemental statement issued by the Biden administration that discouraged fiduciaries from considering alternative assets in 401(k) investment lineups.