Defined contribution plan

The Department of Labor's Employee Benefits Security Administration (EBSA) has issued Field Assistance Bulletin (FAB) 2026-01, a memorandum to EBSA staff from Assistant Secretary Daniel Aronowitz providing guiding principles for EBSA's enforcement priorities. The guidance notes that these priorities and principles are designed to ensure that EBSA’s enforcement is fair, even-handed, responsive, and focused.

The Department of Labor announced that it has issued Technical Release 2026-01, guidance reaffirming that proxy advisors that regularly engage in exercising control over shareholder rights attributable to ERISA plan assets, or provide advice for a fee about how ERISA plans should exercise proxy voting rights, must meet ERISA’s functional fiduciary requirements. The guidance follows an executive order, Protecting American Investors from Foreign-Owned and Politically-Motivated Proxy Advisors issued in December by President Trump spotlighting two large foreign-owned proxy advisors.

Senator Susan Collins (R-ME) has introduced a pair of bills to help family caregivers better prepare for retirement. According to a press release, the Improving Retirement Security for Family Caregivers Act (S. 4292) would allow family caregivers to contribute to a Roth IRA even though they may not satisfy the earned income requirement in support of the contribution. A qualified family caregiver is someone who provides more than 500 hours of in-home care to a child or to an adult with a special need or age-related condition—and has completed fewer than 500 hours of paid employment. 

Representatives Greg Steube (R-FL), and Suzan DelBene (D-WA), have introduced the Optimizing Participant Tax Incentives through Optional Noncash Selections (OPTIONS) Act. The proposal builds off of guidance previously issued by the Internal Revenue Service (IRS) in private letter ruling (PLR) 202434006. 

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for severe winter storms in the state of Mississippi until June 8, 2026. The tax relief postpones various tax filing deadlines that began on January 23, 2026. Affected individuals and households that reside or have business in Mississippi, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service has issued Notice 2026- 26, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

The Internal Revenue Service (IRS) has announced the postponement of certain tax-related deadlines for winter storm Fern in the state of Tennessee until May 22, 2026. The tax relief postpones various tax filing deadlines that began on January 22, 2026. Affected individuals and households who reside or have a business in Cheatham, Chester, Clay, Davidson, Decatur, Dickson, Hardeman, Hardin, Henderson, Hickman, Lawrence, Lewis, Macon, Maury, McNairy, Perry, Robertson, Rutherford, Summer, Trousdale, Wayne, Williamson and Wilson counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.

The Internal Revenue Service has released an updated draft Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. Retirement plan sponsors use this form to notify the Social Security Administration (SSA) if a former employee has vested benefits remaining in the plan.

The Department of Labor has released a proposed rule, “Fiduciary Duties in Selecting Designated Investment Alternatives”. According to a news release, the rule explains the steps that managers of 401(k) plans should take when considering alternative assets as a component in their investment lineups and establishes a set of process-based safe harbors for plan fiduciaries to use when selecting designated investment alternatives. The proposal follows President Trump’s Executive Order, “Democratizing Access to Alternative Assets for 401(k) Investors".

The Department of Labor (DOL) has issued a proposed rule amending the electronic delivery regulations for certain retirement plan documents to align with new requirements established under the SECURE 2.0 Act (SECURE 2.0). The proposal updates—rather than replaces—the 2002 and 2020 safe harbors, preserving electronic delivery as the default for most plan disclosures while adding new conditions for when certain paper benefit statements are required.