Defined benefit plan

The Internal Revenue Service released Announcement 2025-2, delaying the anticipated applicability date for future final regulations relating to required minimum distributions.

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.

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.

These regulations address a payor’s obligation to withhold income taxes when those payments or distributions are made to payees outside of the United States.

The Internal Revenue Service has issued Notice 2025-1, which contains updated guidance on factors used in certain defined benefit 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 Federal Emergency Management Agency issued a Major Disaster Declaration on December 9, 2024, for West Virginia Post-tropical Storm Helene.

The Internal Revenue Service recently issued Notice 2024-77, providing interim guidance on the treatment of “inadvertent benefit overpayments” from defined benefit and defined contribution plans as provided by Section 301 of the SECURE 2.0 Act of 2022.

The Federal Emergency Management Agency (FEMA) issued Major Disaster Declarations on November 26, 2024.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on November 27, 2024.