Defined benefit plan

Representative John Moolenaar (R-MI) has introduced H. R. 2067, the Protecting Americans’ Retirement Savings (PARSA) Act.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on March 18, 2025, for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding, for the incident period of November 2, 2024 – November 5, 2024.

The IRS has announced the postponement of certain tax-related deadlines for victims of West Virginia severe storms, straight-lined winds, flooding, landslides and mudslides until November 3, 2025. The tax relief postpones various tax filing deadlines that began on February 15, 2025. Affected individuals and households who reside or have a business in Logan, McDowell, Mercer, Mingo, Wayne and Wyoming counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief. 

The IRS has issued Revenue Ruling 2025-08 which contains the applicable federal rates (AFR) for April 2025.

Senators Tammy Baldwin (D-WI), and Patty Murray (D-WA) along with several other co-sponsors have reintroduced the Women's Retirement Protection Act in the Senate. According to a press release, the legislation aims to do the following.

The Internal Revenue Service (IRS) has issued Notice 2025-17, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations. Updates include corporate bond monthly yield curve, the corresponding spot segment rates for February used under Internal Revenue Code Section (IRC Sec.) 417(e)(3), and the 24-month average segment rates for March under IRC Sec. 430(h)(2). IRC Sec. 417 contains definitions and special rules for minimum survivor annuity requirements in DB plans. IRC Sec. 430 addresses minimum funding standard for single-employer DB plans.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on February 26, 2025, for West Virginia severe storm, straight-line winds, flooding, landslides and mudslides, for the incident period of February 25, 2025, and continuing. 

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on February 24, 2025, for Kentucky severe storms, straight-line winds, flooding, landslides and mudslides, for the incident period of February 14, 2025 and continuing. 

The IRS has announced the postponement of certain tax-related deadlines for victims of Kentucky severe storms, straight-line winds, flooding, and landslides until November 3, 2025. The tax relief postpones various tax filing deadlines that began on February 14, 2025. Affected individuals and households who reside or have a business in the entire state of Kentucky, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief. 

The IRS has issued Revenue Ruling 2025-06 which contains the applicable federal rates (AFR) for March 2025.