Pension Plans

Subscribe to Pension Plans via RSS

SECURE 2.0 introduced many changes for retirement plans, including updated disclosure requirements for a defined benefit plan’s annual funding notice (AFN). These updated AFN disclosure requirements apply for all plan years beginning after December 31, 2023. For calendar-year defined benefit plans, the first AFNs subject to the revised requirements will be due by April 30…

As described in further detail below, absent Congressional action, plan sponsors should take note that PBGC premium filings will generally be due one month earlier than usual for plan years beginning in 2025. This modification only applies for 2025.

Under ERISA Section 4007, the PBGC determines when premium filings—the submission of required data and payment…

Plan sponsors of Code Section 403(b) tax-sheltered annuity plans (“403(b) plans”) that have not already done so may want to consider applying for an IRS determination letter or planning and budgeting for the process next year if they are not yet eligible.

In June, the IRS determination letter program became available to a second group…

In Buckner v. Murray, No. 21-cv-567, 2024 WL 1366785 (D.D.C. Mar. 30, 2024), the court dismissed the United Mine Workers of America 1974 Pension Plan’s suit to collect $6.5 billion in withdrawal liability because the trustees did not file suit in accordance with the plan’s trust agreement.  After the contributing employer filed for bankruptcy…