"Key aspects of the DOL's reasoning [in Advisory Opinion 2025-03A] include: [1] the purpose of the program ... [2] the design and administration of the program, [3] the unfunded, unsecured and nonguaranteed nature of the awards, [4] the lack of accruals under the program and [5] the fact that participants are annually notified that the express purposes and conditions of the program are that of an incentive program and not a retirement plan subject to ERISA."  MORE >>