Rates are set by fiscal year, effective October 1 each year. Find current rates in the continental United States ("CONUS Rates").
Generally, if your plan is a money purchase pension plan (a defined contribution plan can be either a money purchase plan plan or a profit-sharing plan) or a defined benefit plan, you must pay enough into the plan to satisfy the minimum funding standard for each year.
Determining the required funding requirements for a defined benefit plan is an ongoing and expensive process. Actuaries must be hired to figure out the funding requirement each year.
Quarterly installments of required contributions:
If your plan is a defined benefit plan subject to the minimum funding requirements, you must make quarterly installments of the required contributions.
If you do not pay the full installments timely, you may have to pay interest on any underpayment for the period of the underpayment.
The due dates for installments are 15 days after the end of each quarter. For a calendar-year plan, the installments are due April 15, July 15, October 15, and January 15 (of the following year)
unless these dates fall on a weekend or holiday.