Regulatory and Legislative

The Internal Revenue Service has issued Notice 2025-39, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations. 

The Internal Revenue Service has released Notice 2025-40, updating the static mortality tables for defined benefit plans for 2026. 

 The Department of Labor filed an amicus (friend of the court) brief in a case (Hutchins v. HP Inc.). 

Senator Bill Cassidy (R-LA) has introduced S. 2217, the Independent Retirement Fairness Act.  

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and flooding in Texas until February 2, 2026. 

The Internal Revenue Service has posted an updated draft 2025 Instructions for Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts. 

Senators Bill Cassidy (R-LA), and Tim Scott (R-SC), have shared proposals that, according to a press release, would modernize federal labor law to empower 27 million independent contractors to access portable workplace benefits, like health care and retirement.

President Trump signed into law tax legislation known as the ‘One Big Beautiful Bill Act’ on July 4th.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on July 6, 2025.

Congress passed the tax bill known as the One Big Beautiful Bill Act (OBBBA) on July 3, 2025.