Defined benefit plan

The Pension Benefit Guaranty Corporation (PBGC) has issued Technical Update 25-1 that provides guidance on the timing of premium payments for plan years beginning in 2025. Due to a provision in the Bipartisan Budget Act of 2015, the premium filing due date for all plans is the 15^th day of the 9^th calendar month that begins on or after the first day of the plan year—so for calendar year plans, September 15^th instead of October 15^th.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota wildfires and straight-line winds, for the incident period of October 5 – October 6, 2024. 

The Internal Revenue Service (IRS) issued Revenue Ruling 2025-2, containing the covered compensation tables for the 2025 plan year.

The Pension Benefit Guaranty Corporation (PBGC) has released a final rule updating the table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination to reflect valuation dates falling in 2025.

The Internal Revenue Service (IRS) released Announcement 2025-2, delaying the anticipated applicability date for future final regulations relating to required minimum distributions (RMDs) under section 401(a)(9) of the Internal Revenue Code.

The IRS has announced the postponement of certain tax-related deadlines for victims of Post-Tropical Storm Helene in West Virginia until May 1, 2025.

The Internal Revenue Service has issued Notice 2025-1, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The IRS has issued Revenue Ruling 2025-1, which contains the applicable federal rates (AFR) for January 2025.

The Internal Revenue Service recently released Treasury Decision (TD) 10008, which provides guidance on income tax withholding requirements for certain periodic payments and nonperiodic distributions from deferred compensation plans, individual retirement arrangements (IRAs), and commercial annuities.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 9, 2024, for West Virginia Post-tropical Storm Helene, for the incident period of September 25 – September 28, 2024.