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Defined benefit plan
Regulatory and Legislative
PBGC Finalizes Changes to Assumptions Used in Certain Valuations
The Pension Benefit Guaranty Corporation (PBGC) has released a final rule titled Valuations Assumptions and Methods.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Arkansas Severe Storms (1)
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 30, 2024, for Arkansas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of May 24 – 27, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for West Virginia (1)
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 22, 2024, for West Virginia severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides, for the incident period of April 2, 2024 – April 6, 2024.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Kentucky
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 22, 2024, for Kentucky severe storms, straight-line winds, tornadoes, landslides, and mudslides, for the incident period of April 2, 2024.
Regulatory and Legislative
Washington Pulse: DOL Releases Final Investment Advice Fiduciary Rule
The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).
Regulatory and Legislative
IRS Announces Deadline Relief for Iowa Severe Storms
The IRS has announced the postponement of certain tax-related deadlines for victims of Iowa severe storms and tornadoes.
Regulatory and Legislative
Retirement Plan Disaster Assistance May Be Available for Texas Severe Storms
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 17, 2024, for Texas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of April 26, 2024, and continuing.
Regulatory and Legislative
IRS Issues Yield Curves and Segment Rates for DB Plan Calculations (25)
The Internal Revenue Service has issued Notice 2024-40, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
Regulatory and Legislative
ERISA Insights: DOL Releases Interim Final Rule for Abandoned Plans
The Department of Labor (DOL) has issued a regulatory package that includes an interim final rule that amends the regulations for abandoned plans that were initially created in 2006.
Regulatory and Legislative
IRS Publishes 2025 Mortality Tables for DB Plans
The Internal Revenue Service has released Notice 2024-42, updating the static mortality tables for defined benefit plans for 2025.