"An annuity buyout for active participants that will remain employed is not the type of event that the statute or regulation were designed to capture. Though the annuitized individuals will cease to be participants in the Plan, the change in status does not result because of a workforce reduction event of the type contemplated by PBGC's regulations, such as 'a reorganization or restructuring, the discontinuance of an operation or business, a natural disaster, a mass layoff, or an early retirement incentive program.' " MORE >>
"This article summarizes the statutory provisions on qualified long-term care distributions and notes where Notice 2026-33 provides clarifying guidance for sponsors, plan administrators, and insurers." MORE >>
"Immediate actions (before final rule): [1] Inventory existing fertility benefits.... [2] Assess state requirements.... Planning (once final rule is published): [1] Decide whether to adopt excepted fertility benefits.... [2] Choose a delivery structure.... [3] Set benefit parameters.... [4] Prepare required participant notices.... [5] Review summary plan descriptions (SPDs) and plan documents ... [5] Coordinate with benefits counsel on tax treatment." MORE >>
"[N]ew emerging 'dynamic copay' plans ... translate negotiated price variation into provider- and service-specific dollar copays displayed pre-service, often through app-based tools ... [The authors] examine the operational pre-requisites for 'copay integrity,' likely effects on out-of-pocket (OOP) predictability and spending in light of peer-reviewed evidence on tiered designs, and the constraints imposed by health insurance literacy ... [P]airing dynamic copays with reference pricing, layered onto a tiered network, may better address these limitations by strengthening steerage, improving OOP predictability and aligning member shopping incentives with higher-value care." MORE >>
"For plan sponsors, the proposal is less about introducing entirely new requirements and more about reinforcing how decisions should be documented and communicated. In practice, that means: [1] Make sure the plan's investment process is documented -- not just the conclusion. [2] Ensure committee minutes reflect the evaluation and discussion. [3] Be clear on how advisors are being used in the decision-making process. [4] Continue to monitor investments after selection." MORE >>
"Consistent with existing ERISA principles and Supreme Court guidance, the proposed rule confirms that the same fiduciary standards apply to all investment options, regardless of whether they invest in public or private markets. As always, fiduciaries must maintain a prudent process that considers all relevant facts and circumstances when evaluating plan investments." MORE >>
"Despite rising costs, enterprise employers aren't pulling back on benefits in 2026. They're taking a closer look at where dollars are going, paying more attention to how programs perform, and finding ways to stay competitive without letting benefits spending grow unchecked.... [O]rganizations with 500 or more employees are preserving core benefits while introducing tighter controls around spending, utilization, and administration." MORE >>
"Start with the question. ... Validate the data. ... Integrate quantitative and qualitative data. ... Use a sequential process to analyze data. ... Look at the data through multiple lenses. ... Don’t overreact to outliers. ... Put the pieces together." MORE >>
"Rising postage costs, delivery slowdowns at the postal service and an increasingly digital workforce have accelerated the use of electronic communications. But even as email, mobile apps and text alerts become the industry norm, employers and regulators are grappling with a difficult balancing act: how to modernize disclosures without increasing cybersecurity risks, excluding participants who still rely on paper, or running afoul of SECURE 2.0’s requirements." MORE >>
"The rapid advancement of AI creates new fiduciary, operational, and governance risks for pension systems. Outright bans are not realistic. Developing a dynamic, principle-based AI governance is essential to protecting beneficiaries' data, while safely streamlining efficiencies and enhancing returns." MORE >>
"Healthcare costs aren't evenly spread. A small group of members accounts for a disproportionate share of spending. Today, 1% of members drive 21% of costs, and 5% drive half. That concentration is only intensifying. High-cost claimants, those with over $100,000 in annual spend, have grown 61% in just a few years. No deductible can solve that." MORE >>
"In 2021, the CBO estimated that the newly signed law would lower provider payments, especially out-of-network rates, while reducing commercial insurance premiums by roughly 1% and decreasing federal deficits by $17 billion through 2030. New data suggests a different trajectory, the CBO wrote ... even as the law fulfills its core goal of protecting patients from out-of-network balances on surprise bills. The issue stems from arbitration outcomes that have tilted in favor" MORE >>
40 pages. "This issue brief provides an analysis of how lifetime retirement income features are currently used in public sector DC plans and identifies the rationale for why providing these features is an advantageous policy. It outlines a best-practices framework for public sector DC plan sponsors to evaluate and select annuity options.... The framework addresses common objections, compares product types, and provides a structured due-diligence process to prioritize adequate lifetime income while considering costs, participant needs, and administrative feasibility. " MORE >>
"FAB 2026-01 rests upon an assumption fundamentally at odds with ERISA’s fiduciary framework. The FAB repeatedly suggests that fiduciaries may satisfy their obligations through process-oriented reliance upon service providers, consultants, product manufacturers, and other market participants. Yet ERISA §404(a) imposes a duty far more demanding. A fiduciary must engage in an independent investigation and objective evaluation sufficient to determine whether an investment is prudent and in the best interests of participants." MORE >>
"Ultimately, in order to bridge the benefits trust gap, employees do not need more information. They need better context. Clear explanations, relevant examples, and insight into the rationale behind benefits decisions help employees connect cost, coverage, and value. When that connection becomes clear, trust strengthens. When it remains unclear, confidence declines." MORE >>
"Rising caregiving burdens threaten retention, productivity and employer talent competitiveness.... 90% of HR report caregiving impacts absenteeism/productivity; only 37% trust current benefits are enough." MORE >>
"RSUs, bonuses, and raises can contribute to long-term financial progress, but only when you pair them with intentional planning. High-income earners face a unique combination of high marginal tax rates, variable cash flow, and complex decision-making." MORE >>
"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]" MORE >>
"These unofficial 2027 limits are determined using the Internal Revenue Code (IRC)'s cost-of-living adjustment methods, the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) values through June, and Mercer's projected C-CPI-U for July and August. While adoption assistance program limits generally use the same indexing formula, they can't be reliably projected due to the small rounding threshold." MORE >>
"In deciding whether to distribute the SMM versus an updated SPD, plan administrators should consider the number of modifications that need to be described and whether the use of the SMM alone would sufficiently apprise covered persons of their benefits, rights, and obligations under the plan." MORE >>
12 pages. "This request for information (RFI) solicits technical input on the services and business practices of pharmacy benefit managers (PBMs) and their affiliates to inform implementation of recent legislation. It specifically focuses on gathering information to inform two specific legislative requirements that are effective beginning calendar year 2028: restrictions on the remuneration that PBMs and their affiliates may receive for services in connection with the utilization of covered Part D drugs; and data reporting requirements....
"This request for technical input is narrowly focused on gathering information on current business practices to inform two specific requirements added to the Social Security Act by section 6224 of the Consolidated Appropriations Act, 2026 (CAA, 2026) ... [1] Definition of 'Pharmacy Benefit Manager' ... [2] Definition of 'Affiliate' ... [3] Definition of 'Bona Fide Service Fee' ... [4] Determination of 'Fair Market Value' ... [5] Pharmacy Payment." MORE >>
"State retirement mandates are a growing trend across the country ... If you're a business owner, that means the rules may not be optional anymore -- and the deadlines are coming fast.... This article provides a state-by-state breakdown of the current landscape, covering states with active mandates, pending legislation, and those with no mandates at all." MORE >>
"Of the six factors, current practices are probably the most closely aligned with the DOL's expectations about the evaluation of fees and costs. That is due in part to the laser focus on fees and expenses of investments and service providers by plan sponsors and advisors, which in turn is due in part to the focus on fees and costs by plaintiffs' attorneys in ERISA fiduciary breach litigation." MORE >>
"The new law would amend the Illinois Human Rights Act to include 'menopause-related condition' in the list of protected classifications ... The new law also adds several items to the list of possible reasonable accommodations for pregnancy and pregnancy-related conditions, including flexible scheduling or modified work hours and/or temperature and climate-adjusted workspaces. Employer notices must now include information regarding these additional reasonable accommodations for these conditions as part of the right to any reasonable accommodations for pregnancy." MORE >>
"MBCBPs are accounted for as DB plans under U.S. GAAP, but stakeholders have raised concerns that there are different interpretations of how ASC guidance applies to MBCBPs, resulting in accounting liabilities not always reflecting the economics of MBCBPs.... By enhancing clarity, consistency, and alignment with the underlying economics of these plans, the new FASB guidance may make MBCBPs a more attractive and feasible option for a wider array of employers." MORE >>
