News Archive

"Ultimately, the objective of the Executive Order is to dissuade proxy advisors from making recommendations based on DEI and ESG initiatives. The utilization of the ERISA fiduciary statutory scheme as a tool for dissuasion has direct and significant impacts on service providers to retirement plans. From a practical perspective, service providers and fiduciaries to ERISA plans should consider the following:"  MORE >>

"This [article] provides an overview of President Trump's recent Executive Order directing regulatory agencies to take action to enhance 401(k) plan access to such strategies, and continues by summarizing some prior history, moves on to outline concerns of plan fiduciaries and then offers some of the reasons proponents and opponents have concerning alternative assets in 401(k) plans."  MORE >>

"Following a review of the DFVC Program, as modified in 2002 and 2013, the Department has determined to expand the penalty relief to plan MEWAs, non-plan MEWAs, and ECEs who are required to file the Form M-1.... The Department, to encourage voluntary compliance with ERISA's reporting requirements, is extending to plan and non-plan MEWAs and ECEs that are required to file Form M-1 the same $750 maximum penalty amount currently available to small plans filing a late Form 5500, and to filers of apprenticeship and training plans and top hat plans. In addition, top hat and apprenticeship plans will no longer be directed to the DFVC payment calculator. All plans eligible to pay a flat $750 fee will follow a link to a gov.pay site.... The DFVC Program described herein shall be effective December 19, 2025."  MORE >>

"Key developments include: [1] Rapid growth in auto portability adoption. [2] Public support for auto portability from leading DC recordkeepers. [3] A reframing by industry thought leaders of the 'forgotten' 401(k) accounts issue through the lens of portability."  MORE >>

"HIPAA requires covered entities to post and provide individuals with a copy of the provider's NPP no later than the first day services are delivered. The NPP must contain the elements, information and statements specified in 45 CFR 164.520 ... By February 16, 2026, covered entities must update their NPP to also address the following: [1] Notice of Rights Concerning Substance Use Disorder Records.... [2] Limits on Use of SUD Records.... [3] Impact of Other Laws.... [4] Fundraising."  MORE >>

"OBBBA ... introduced several changes affecting HSAs, including a permanent safe harbor for pre-deductible telehealth and remote care, the designation of [ACA] Exchange bronze and catastrophic plans as HSA-compatible, and clarification that qualifying Direct Primary Care Service Arrangements (DPCSAs) do not disqualify individuals from HSA eligibility."  MORE >>

"Proxy advisors who provide recommendations and analysis to shareholders (including ERISA plan fiduciaries) regarding how to vote proxies on corporate matters may not fit neatly within the traditional fiduciary framework. However, the Executive Order directs the DOL to consider whether proxy advisors to ERISA plans should be ERISA fiduciaries because of their 'relationship of trust and confidence' with their clients."  MORE >>

"43 percent of individuals interviewed between ages 56-75 combined work and benefits for at least some period of time ... [T]wo-thirds of them claimed before the FRA -- typically right at age 62 -- while another 30 percent claimed between the FRA and age 69 -- typically right at the FRA. This pattern suggests different circumstances and different reasons for claiming."  MORE >>

"Effective January 1, 2026, Connecticut's paid sick leave law will apply to employers with 11 or more employees, lowering the threshold from 25 employees in 2025. Then, starting January 1, 2027, the law will cover almost all remaining employers with at least one employee."  MORE >>

"Data from the National Financial Educators Council (NFEC) found that participants say they lose out on $948 from their lack of personal finance knowledge, for a combined total of $246 billion in lost revenue. Further, close to half (48.6%) of survey respondents say that an inadequacy of their own financial prowess had led to losses of $500, while 14.6% report setbacks of $2,500."  MORE >>

"If you're running behind on retirement savings, you'll probably want to contribute the extra amount, even though there's not a current tax advantage.... A person who is currently age 50 and maxes out on both catch-up and super catch-up contributions could therefore end up with something in the neighborhood of $200,000 (assuming a 5% annual return) in the Roth 401(k) by age 65. And because contribution limits are adjusted for inflation each year, the total would likely be higher than that."  MORE >>

"The PSDA Revised Guidelines both add new obligations and provide additional guidance to employers that provide paid sick leave to employees in the City. The Revised Guidelines will take effect on January 1, 2026 (when both the accrual rate and the amount of paid sick leave available under the PSDA will increase)."  MORE >>

"By breaking down silos between medical and disability data, absence management leaders can uncover actionable insights that improve employee outcomes and reduce organizational risk. This analysis sets out to: [1] Quantify how chronic and complex conditions influence both medical spend and absence patterns. [2] -- Identify which conditions have the greatest impact on cost and workforce availability. [3] Translate these findings into practical strategies for absence programs."  MORE >>

"For more than 30 years, 'stable value' has been marketed to retirement plan fiduciaries as a conservative, low-risk, bond-like option. That description is only accurate for one form of stable value: diversified synthetic stable value. General Account (GA) and Separate Account (SA) stable value products are fundamentally different. They embed insurance spread products, opaque crediting decisions, and conflicted compensation structures that directly collide with ERISA's duties of loyalty, prudence, and prohibited-transaction rules."  MORE >>

"The standard mileage rate for transportation or travel expenses for 2026 is 72.5 cents per mile for all miles of business use (business standard mileage rate) ... The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization under Section 170.... The standard mileage rate for 2026 is 20.5 cents per mile for use of an automobile: [1] for medical care described in Section 213; or [2] as part of a move for which the expenses are deductible under Section 217(g)."  MORE >>

"[1] Prioritize primary care as a strategic investment ... [2] Expand the primary care team ... [3] Improve access through navigation ... [4] Encourage preventive care with the right Incentives ... [5] Choose the right partners to deliver value ... [6] Primary care as the great navigator."  MORE >>

"In 2026, states will receive first-year awards from CMS averaging $200 million within a range of $147 million to $281 million. This unprecedented federal investment will help states expand access to care in rural communities, strengthen the rural health workforce, modernize rural facilities and technology, and support innovative models that bring high-quality, dependable care closer to home."  MORE >>

"[T]he Order specifically names and targets two leading firms, Glass Lewis and Institutional Shareholder Services (ISS) ... [and] asserts that these firms use their influence to advance agendas such as DEI and ESG, which, according to the Order, may not align with the sole priority of investor returns. The Order directs the [SEC], Federal Trade Commission (FTC), and [DOL] to take actions intended to promote accountability, transparency, and competition."  MORE >>

"While 2025 saw an expansion of automatic savings features in defined contribution (DC) plans, an increased focus on managed accounts, and improved financial wellness programs ... [one consultant] sees the retirement industry moving towards a renewed focus on pooled employer plans (PEPs), incoming provisions created in SECURE 2.0 legislation, and a push towards participant engagement beyond auto-enrollment features in the new year."  MORE >>

"[T]he new guidance [1] clarifies that the safe harbor does not extend to in-person services, medical equipment, or drugs furnished in connection with telehealth or other remote care services.... [2] clarifies how Direct Primary Care Service Arrangements (DPCSAs) interact with HSAs.... [3] provides that beginning January 1, 2026, bronze and catastrophic health plans, including those obtained through a health insurance exchange, will be treated as HSA-compatible, even if they don't meet the traditional high-deductible requirements."  MORE >>

"[CMS] proposed two models aiming to implement international reference pricing approaches for drugs under Medicare ... As proposed, both models would be mandatory for any drug manufacturer wishing to participate in Medicare. Both would assess rebates for certain single-source drugs and biological products 'if the prices exceed those paid in economically comparable countries.' The models share a number of conceptual and design features, but operational differences between Part B and Part D do play out in the models' design."  MORE >>

"About 6.7% of Vanguard-held individual retirement account investors missed RMDs in 2024, resulting in total tax penalties of approximately $1.7 billion.... Owners of smaller Vanguard IRAs were more likely to miss RMDs -- with 56.8% of investors with balances under $5,000 missing their RMD in 2024, compared with 2.5% of investors with balances of more than $1 million."  MORE >>

"[I]ndependent journalist and teacher Jim Vail documented a striking confrontation between Teacher Trustee Erika Meza and the Chicago Teachers' Pension Fund's external consultant, Callan Associates ... The exchange highlights the growing tension between rank-and-file educator fiduciaries and institutional insiders pushing private markets -- especially private equity -- with all of the attendant cost, complexity, and opacity that has plagued many U.S. public pension systems."  MORE >>

"[Minnesota's] highly anticipated Paid Family Medical Leave fully launches on Jan. 1, with applications already live for those who welcomed a child in 2025.The program offers up to 12 weeks for both medical and family leave -- with a total limit of 20 weeks a year. Over 5,000 Minnesotans have already submitted applications for leave to bond with children welcomed in 2025 after applications opened in December, according to Gov. Tim Walz's office."  MORE >>

"Although the plaintiff alleged that an accident in 2019 ultimately caused permanent blindness in one eye in 2023, the court held that the policy unambiguously required the physical loss to occur within 365 days of the accident. Because more than four years separated the alleged accident and the loss of vision, the court ruled that the plaintiff could not state a cognizable claim for benefits under ERISA Section 502(a)(1)(B) and granted MetLife's motion to dismiss." [Camardelle v. Metropolitan Life Ins. Co., No. 25-1382 (E.D. La. Dec. 19, 2025)]  MORE >>