ERISA News

The Pension Benefit Guaranty Corporation has announced that practitioners for single employer plans can now submit standard termination filings, including those with missing participants in its e-filing portal. Additionally, coverage determination requests can be submitted on this platform. 

Senator Rand Paul (R-KY) has introduced the Health Marketplace and Savings Accounts for All Act.

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

Senators John Barrasso (R-WY) and Michael Bennet (D-CO) have introduced the Retirement Rollover Flexibility Act.

Senators Cory Booker (D-NJ) and Todd Young (R-IN), along with Representatives Eugene Vindman (D-VA) and Glenn Thompson (R-PA) have introduced bi-cameral legislation, the Emergency Savings Enhancement Act.

The Internal Revenue Service (IRS) has posted Instructions for Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts, for 2025. 

The Internal Revenue Service (IRS) has posted 2025 tax year Instructions for Form 8889, Health Savings Accounts (HSAs). 

The Internal Revenue Service has issued a draft Form 4547, Trump Account Election(s), and accompanying draft Instructions.

The Internal Revenue Service released Notice 2025-60, 2025 Required Amendments List for Qualified and Section 403(b) Plans, setting forth the 2025 list of required amendments that apply to section 401(a) qualified individually designed plans, section 403(b) individually designed plans, and pre-approved plans with respect to interim amendments.

House Financial Services Committee Chairman French Hill (R-AR) and several committee members introduced bipartisan legislation, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act. Included in Section 202 of the bill is text from H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Act.