Defined contribution plan

President Trump has signed into law the Filing Relief for Natural Disasters Act (“Act”). The Act allows the Treasury Department, after consulting with the Federal Emergency Management Agency, to postpone filing deadlines for affected individuals and businesses in a state-declared disaster area that has not yet received a federal disaster designation. 

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on July 22, 2025, for several disasters throughout the United States.

Senator Bernie Sanders (I-VT) has released proposed legislation titled the Pensions for All Act.

The IRS has announced the postponement of certain tax-related deadlines for victims of New Mexico storms, flooding, and landslides until February 2, 2026.

The IRS has issued Revenue Ruling 2025-15, offering detailed guidance on how to handle federal tax withholding and reporting when retirement plan distribution checks go uncashed and must be reissued.

The Internal Revenue Service has issued Revenue Ruling 2025-14 which contains the applicable federal rates (AFR) for August 2025.

The Department of Labor (DOL) filed an amicus (friend of the court) brief in a case (Hutchins v. HP Inc.) that claimed the employer breached its fiduciary duty to the plan by electing to use forfeitures to fund mandatory employer contributions rather than offset administrative expenses borne by participants. 

Senator Bill Cassidy (R-LA) has introduced S. 2217, the Independent Retirement Fairness Act.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and flooding in Texas until February 2, 2026.

Senators Bill Cassidy (R-LA), and Tim Scott (R-SC), have shared proposals that, according to a press release, would modernize federal labor law to empower 27 million independent contractors to access portable workplace benefits, like health care and retirement.