"For a retirement plan that provides participant-directed investment, an administrator provides information to meet ERISA's disclosure requirements. This includes comparing a fund's or other investment alternative's past performance to 'an appropriate broad-based securities market index[.]' ... In SECURE 2022 Section 318, Congress directs the Labor department to publish a rule to let a plan's administrator use for 'a designated investment alternative that contains a mix of asset classes' a benchmark that is a blend of broad-based securities market indices, proportioned to follow the target-date, asset-allocation, or balanced fund's investments in asset classes. Considering the Office of Information and Regulatory Affairs' most recent Unified Agenda of Regulatory and Deregulatory Actions, it seems unlikely the Labor department will complete, or even propose, a rulemaking by Congress's December 2024 due date.

"For plan administrators that rely on a recordkeeper or third-party administrator to assemble rule 404a-5 disclosures comparing an investment alternative's past performance to an index's past performance, what have the service providers been doing? Have some followed what Congress permits, setting up a custom benchmark built from applying each underlying asset class's index in the portions the target-date fund declares as its target allocations? If not, what benchmark does a 404a-5 disclosure use for a target-date fund?"

"I submitted this question to Relius as well but curious if you are all in agreement: My reading of the Relius 403(b) document and the Corbel formatted 401k prototype document is that the 60-63 catch-ups will automatically be added because those documents merely reference 'up to the catch-up limits'. And now that limit is just higher for ages 60-63. Have others come to the same conclusion? I believe I saw an FT William email taking the position that this was their reading of their own document, which was what got me thinking."

"I am reviewing a health plan SPD. Has there been any official model NSA/TiC summary published by the Departments of Health and Human Services, Labor and Treasury of an approved summary notice that is suggested for this purpose? Alternatively, is there any summary language that anyone would be willing to share?"

"It has been determined that 2 years ago, a plan failed the ADP test. The HCE (not an owner) terminated and already took a rollover distribution the following year, so it has been over a year since that distribution has been taken. Earnings have been calculated through date of distribution and an amended 1099-R will be issued. When they (hopefully) withdraw this non-taxable amount from their IRA, are their additional earnings that need to be calculated, or is this amount simply frozen in time at the date of the actual distribution?"

"I have a non-governmental Plan, but they do educational services and do get some grant money for pre-school programs. Would they be considered exempt from ACP Testing? I just want to make sure, as the issue is coming up with the auditors if it is required or not."

"Bob was born 3/1/1953 He turns 72 after December 31, 2022 therefore his RMD age is now 73 He turns 73 on 3/1/2026... he needs to take a 2026 RMD He can put off his 1st RMD payment as long as it is paid by April 1 of the following year, 4/1/2027. Q/ This payment he makes on or before 4/1/2027 represents the 2026 RMD based on his 12/31/2025 year end balance.... correct? OR; is the deal he can put off his 1st RMD payment until 2027, the amount of the RMD is based on the 2026 YE Balance, but the catch is he must take it by 4/1 What I struggle with is if he puts off his 1st RMD (the 2026 RMD based on 2025 YE Bal) until 4/1/27 (the following year) and then he needs to take another one for 2027 based on the 2026 YE Bal, he is going to have 2 RMD payments hitting his personal account in 2027... a lot of taxes to come up with."