Defined benefit plan

The Department of Labor has released Field Assistance Bulletin 2025-01 providing guidance regarding the treatment of small balances of retirement plan missing participants and beneficiaries.

The Internal Revenue Service has issued a proposed rule under IRC Sec.162(m) to identify “covered employees” and nondeductible compensation. 

The Internal Revenue Service has issued Notice 2025-13, which contains updated guidance on factors used in certain defined benefit pension plan minimum funding and present value calculations. 

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 8, 2025, for California wildfires and straight-line winds.

The Federal Emergency Management Agency issued a Major Disaster Declaration on January 1, 2025, for the following disasters for the period indicated.

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.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota.

The Internal Revenue Service issued Revenue Ruling 2025-2, containing the covered compensation tables for the 2025 plan year.

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.