"Notice 2025-68 provides the first round of helpful guidance for IRA providers interested in maintaining these accounts, and employers interested in funding these accounts for their employees.... Most notable is the confirmation that parents can make pre-tax salary deductions (up to $2,500, indexed) through a cafeteria plan to contribute to their child's Trump account. Of course, employers can also simply elect to contribute up to $2,500 (indexed) tax-free to the Trump accounts of their employees under age 18 or to the accounts of their employees' dependents under age 18." MORE >>
"The Court's order dismisses the legal challenges to the Fiduciary Rule effective the date the 'Motion to Voluntarily Dismiss Consolidated Appeals' was filed, November 2025.... Pending the issuance of regulation, financial institutions and certain covered entities must continue to comply with the requirements of PTE 2020-02, affecting retirement asset investments and rollovers, as finalized in December 2020 and as subsequently vacated, in part, by court order." [FACC. v. DOL, No. 24-0163 (E.D. Tex. Jul. 25, 2024; on appeal to 5th Cir. No. 24-40637; motion to dismiss granted Nov. 28, 2025)] MORE >>
"[FAQs Part 72] describe three pathways for employers to offer fertility benefits as excepted benefits under existing guidance: [1] independent, non-coordinated insurance policies covering fertility benefits; [2] excepted benefit HRAs reimbursing out-of-pocket costs for fertility benefits; and [3] EAPs providing non-medical services related to fertility care." MORE >>
"A website for Trump accounts has been created, and additional information on how to sign up will be released on Dec. 17. At least a few details will need to be sorted out, including eligible custodians, acceptable investment strategies, the status of foreign securities in pooled vehicles, and enforcing the prohibition on early withdrawals, among other issues." MORE >>
"Depending on your age, the size of your company and (in the case of larger businesses), the amount of your company's contribution, you are subject to one of six SIMPLE IRA deferral limits, including one of three catch-up limits. On November 13, 2025, the IRS announced the 2026 COLA limits for IRAs and retirement plans. Here are the 2026 limits for SIMPLE IRAs." MORE >>
"[This checklist is] broken into three sections: [1] Deadline Tasks -- Summarizes the tasks that must be completed by a specific date. [2] Periodic Tasks -- Summarizes the tasks that may need completed throughout the year. [3] Plan Records -- Summarizes the records to maintain for documentation purposes." MORE >>
"AB 260, effective September 26, 2025, requires California regulated health plans with prescription drug benefits to cover mifepristone even when [FDA] labeling or federal risk evaluation strategies would otherwise limit its use.... AB 144 requires California regulated health plans to cover preventive services without cost-sharing or prior authorization ... as [federal] recommendations existed on January 1, 2025.... California is 'locking in' the federal and professional standards that were in place on that date, regardless of any future changes or litigation at the federal level.... SB 41, effective January 1, 2026 ... bans spread pricing and requires PBMs to use pass-through pricing models so plans pay pharmacies what PBMs reimburse them, plus a transparent administrative fee." MORE >>
"Minnesota's paid leave program goes into effect January 1, 2026 ... Employers who have not yet done so should: [1] Provide notice to employees. [2] Consider whether to adopt an equivalent plan. [3] Review their other policies to ensure alignment with the new state program." MORE >>
"[DOL's EBSA] returned from the longest government shutdown to find that the February deadline set by [EO 14330] ... calling on Labor to consider writing new guidance, is suddenly a month and a half closer.... In addition to the types of assets typically classified as 'alternative assets' ... the executive order also included lifetime retirement income. This ... could mean that EBSA will consider longstanding industry hopes for broader guidance, potentially regulations, permitting 401(k) plans to use defaults to spur takeup of retirement income." MORE >>
11 pages. "The market is working on solutions to solve America's retirement income problem. Products are being created and promoted within DC plans, but ... they leave a lot to be desired.... DB plans have long been the preferred vehicle for delivering lifetime income. And though traditional forms have fallen out of favor, a new generation of DB plans is emerging, which could solve the lifetime income puzzle without burdening employers with the risks associated with traditional DB plans. The path forward is moving beyond simply encouraging saving or offering products; it is building lifetime income systems that truly work for people." MORE >>
"Beginning on January 1, 2026, Minnesota's new Paid Leave Law (PLL) will require nearly all employers to provide up to 20 weeks of paid family and medical leave through a new statewide program. The change introduces new payroll contributions, compliance obligations, and employee protections.... The law applies to employers with one employee working in Minnesota, regardless of the size." MORE >>
"Although the plaintiff pleaded only state-law claims -- including fraud, negligent misrepresentation, conversion, unjust enrichment, and civil conspiracy -- the court held that ERISA's 'extraordinary pre-emptive power' converted those claims into federal claims under ERISA Section 502(a). Because the plaintiff already had a parallel ERISA action pending over the same conduct, the court allowed dismissal of the duplicative suit." [Patterson v. UnitedHealth Group, Inc., No. 25-3175 (6th Cir. Dec. 2, 2025)] MORE >>
"The ERISA Litigation Reform Act [HR 6084] ... would toughen pleading standards for legal complaints under ERISA. The legislation clarifies the burden of proof in specific fiduciary-related claims and provides different standards for a court to stay discovery during the early stages of litigation.... [T]he Retirement Simplification and Clarity Act [HR 10467] ... would offer greater access to annuities. The bill introduces a provision for 'in-service rollovers,' allowing employees greater flexibility to secure guaranteed income through annuities while they are still actively working." MORE >>
"The hearing centered on a divide between Democrats and Republicans on how complaints should be used to ensure employers are providing workers with the best possible retirement benefits. In recent years, the number of legal complaints has increased, particularly those related to fees, investments, performance and the use of retirement plan forfeitures." MORE >>
"Dozens of class action lawsuits have been filed challenging these programs. Several cases have been settled, but the majority are continuing to work their way through the courts. The cases often raise similar issues: I[1] Meaning of 'full reward' ... [2] Time to complete 'reasonable alternative standard' ... [3] Notice of alternative standard ... [4] Breach of fiduciary duty." MORE >>
"Interactive wellness programs, which can facilitate health risk assessment and increased digital engagement from policyowners, are potentially an emerging trend among U.S. life insurers. While John Hancock Vitality has stood as the preeminent wellness offering in the life insurance space since 2015, more recently launched programs indicate that other top life insurers are noticing the value created by this level of digital engagement with policyowners." MORE >>
"According to a recently filed Supreme Court brief ... over half of plans with more than $1 billion in assets have been targeted by at least one excessive fee or investment performance lawsuit since 2016. Plans with $500 million or more in assets have close to a 10% chance of being sued in a given year. And while some class action settlements are large, many result in incredibly small recoveries for actual plan participants, as most of the money is paid for attorney's fees, expenses, and payments to the named plaintiffs." MORE >>
"With the retirement plan industry operating under an increasingly heavy cloud of litigation, the American Retirement Association (ARA) is calling on Congress to act on legislation that reduces abusive litigation practices that divert resources that could otherwise enhance retirement outcomes. The ARA made the request in a Statement for the Record for a hearing before the House Education and Workforce Subcommittee on Health, Employment, Labor, and Pensions (HELP)." MORE >>
"Preliminary results from GAO's ongoing covert testing suggest fraud risks in the advance premium tax credit (APTC) persist.... GAO's preliminary analyses identified over 29,000 SSNs in plan year 2023 and nearly 68,000 SSNs in plan year 2024 used to receive more than one year's worth of insurance coverage with APTC in a single plan year. ... GAO's preliminary analyses also identified at least 30,000 applications in plan year 2023 and at least 160,000 applications in plan year 2024 that had likely unauthorized changes by agents or brokers." [GAO-26-108742 Dec. 3, 2025] MORE >>
"While gains were made in structuring individual market health plan choices in the ACA, additional standards for plan design, marketing, and enrollment could improve consumer satisfaction and health care affordability. However, progress toward these goals could be undermined by future administrative or congressional changes, such as allowing alternative plan types or rolling back regulations that promote standardization." MORE >>
44 pages. "This notice informs taxpayers that the [Treasury Department] and the [IRS] intend to propose regulations providing guidance with respect to section 70204 of ... the One, Big, Beautiful Bill Act (OBBBA). Section 70204 of OBBBA, which applies to taxable years beginning after December 31, 2025, added section 530A and related sections regarding Trump accounts to the Internal Revenue Code. Section II of this notice provides a general overview of how Trump accounts work. Section III of this notice addresses certain initial questions related to Trump accounts that the Treasury Department and the IRS intend to address in the forthcoming proposed regulations. The Treasury Department and the IRS expect that the forthcoming proposed regulations will be consistent with the guidance set forth in section III of this notice. Section IV of this notice contains a request for comments regarding Trump accounts. " MORE >>
"[Notice 2025-68] addresses certain areas of interest to prospective trustees of Trump Accounts and to those individuals, such as parents and guardians, who would like to establish and/or contribute to these accounts. The notice requests comments on numerous issues related to Trump Accounts. The IRS is posting a draft version of Form 4547, Trump Account Election(s) ... When final, the new form can be used to establish a Trump Account and to enroll in the pilot program." MORE >>
"Normally, making 401(k) deferrals on a pre-tax basis provides a tax advantage to an employee ... However, in the case of a tipped employee, it may actually create a tax disadvantage, because it converts otherwise tax-free income into taxable income.... Employee education is obviously going to be critical.... [U]nless there is a very generous match, it may be hard to get low-paid tipped workers to see a reason to make contributions that do not produce an immediate tax benefit. Employers may wish to consider making safe harbor nonelective contributions to the plan." MORE >>
"For plan sponsors with a pre-approved 401(k) plan document that contains a discretionary matching contribution, there is a new compliance requirement.... [A] plan must include a clear, predetermined formula for how contributions will be allocated. To meet the new requirement, pre-approved plan documents with discretionary matching contributions must contain the required complaint language and meet two notice requirements." MORE >>
"The One Big Beautiful Bill Act has agencies working to create new guidance and regulations for telehealth, health savings accounts, and dependent care assistance programs. Ongoing litigation has paused enforcement of Mental Health Parity and Addiction Equity Act rules. Litigation impacts other aspects of health plan administration and design." MORE >>
