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Defined benefit plan

Industry & Regulatory News

Proposal Aimed at Self-Directed Investments Introduced

Representative Byron Donalds (R-FL) has introduced H.R. 2544, the Financial Freedom Act to prohibit the Secretary of Labor from constraining the range or type of investments that may be offered for participant directed retirement accounts. The proposal has been referred to the House Committee on Education and Workforce for further consideration.

April 08 2025

Industry & Regulatory News

DOL Provides Guidance for Defined Benefit Annual Funding Notices

The Department of Labor has issued Field Assistance Bulletin (FAB) 2025-02 and accompanying single employer and multiemployer model notices updating notice requirements for defined benefit plans pursuant to Section 343 of SECURE 2.0. FAB 2025-02 uses a Q&A format to explain the methods that single employer defined benefit pension plans use to measure the value of assets, value of liabilities, and funding level.

April 04 2025

Industry & Regulatory News

Proposal Expanding Disaster Relief to State Declared Disasters Passes Committee

Representatives David Kustoff (R-TN) and Judy Chu (D-CA) previously introduced H.R. 517 the Filing Relief for Natural Disasters Act. The bill would allow the governor of a state or territory to extend a federal tax filing deadline in the event of a state-declared emergency or disaster, which happens automatically for federally declared disasters.

March 31 2025

Industry & Regulatory News

Spousal Consent Proposal Re-Introduced in House

Representative Lauren Underwood (D-IL) and several co-sponsors have reintroduced the Women's Retirement Protection Act. Bill text for H.R. 2023 is now available.

March 28 2025

Industry & Regulatory News

Investment Restrictions Proposed in House

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

March 28 2025

Industry & Regulatory News

Retirement Plan Disaster Assistance May Be Available for Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding

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.

March 21 2025

Industry & Regulatory News

IRS Announces Deadline Relief for West Virginia Storm Victims

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. 

March 18 2025

Industry & Regulatory News

IRS Announces Applicable Federal Rates for April

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

March 17 2025

Industry & Regulatory News

Spousal Consent Proposal Re-Introduced in Senate

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.

March 14 2025

Industry & Regulatory News

IRS Issues Yield Curves and Segment Rates for DB Plan Calculations

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.

March 12 2025
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