Chris Nicholls

Because recent changes to pensions’annual funding notices were included in SECURE 2.0, the Department of Labor has released new guidance outlining how pension plans should annually calculate and disclose the value of their assets and liabilities under SECURE 2.0’s new requirements, in a new field assistance bulletin.

SECURE 2.0 introduced many changes for retirement plans, including updated disclosure requirements for a defined benefit plan’s AFN 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, 2025.

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