PBGC Premium Filing Deadlines Change for 2025 Plan Years
The Pension Benefit Guaranty Corporation has issued Technical Update 25-1 that provides guidance on the timing of premium payments for plan years beginning in 2025.
DOL Final Rule Updating VFCP Has Left OMB
Department of Labor guidance titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program” has left the Office of Management and Budget.
Retirement Plan Disaster Assistance May Be Available for North Dakota Wildfires and Straight-line Winds
The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota.
IRS Provides 2025 Covered Compensation Tables Used in DB Plans
The Internal Revenue Service issued Revenue Ruling 2025-2, containing the covered compensation tables for the 2025 plan year.
Applicability of Certain Aspects of RMD Regulations Delayed to 2026
The Internal Revenue Service released Announcement 2025-2, delaying the anticipated applicability date for future final regulations relating to required minimum distributions.
Proposal Restricting Use of Private Placement Life Insurance Introduced
Senate Finance Committee Chair Ron Wyden (D-OR) has released draft legislation titled Protecting Proper Life Insurance from Abuse Act.
Prime Interest Rate Decreased to 7.5 Percent
Effective December 18, 2024, the prime interest rate decreased to 7.50 percent.
PBGC Updates Tables for Certain 2025 Valuations
The Pension Benefit Guaranty Corporation 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.
IRS Announces Deadline Relief for Post-Tropical Storm Helene in West Virginia
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.
IRS Announces Applicable Federal Rates for January
The IRS has issued Revenue Ruling 2025-1, which contains the applicable federal rates (AFR) for January 2025.
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