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FuturePlan ERISA Team
Regulatory and Legislative
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.
Regulatory and Legislative
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.
Regulatory and Legislative
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.
Regulatory and Legislative
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.
Regulatory and Legislative
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.
Regulatory and Legislative
Prime Interest Rate Decreased to 7.5 Percent
Effective December 18, 2024, the prime interest rate decreased to 7.50 percent.
Regulatory and Legislative
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.
Regulatory and Legislative
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.
Regulatory and Legislative
Retirement Spotlight - IRS Releases Final Regulations on Tax Withholding Requirements
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.
Regulatory and Legislative
IRS Issues Yield Curve and Segment Rates for DB Plan Calculations
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.