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.

December 30 2024

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.

December 27 2024

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.

December 23 2024

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.

December 20 2024

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.

December 19 2024

Regulatory and Legislative

Prime Interest Rate Decreased to 7.5 Percent

Effective December 18, 2024, the prime interest rate decreased to 7.50 percent.

December 19 2024

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.

December 19 2024

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.

December 18 2024

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.

December 17 2024

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.

December 17 2024
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