News Archive

"[Executive Order 14403] is a directive; it sets a destination, but most of the substantive rules haven't been written yet. Open questions include: [1] The full criteria financial institutions must meet to be listed on TrumpIRA.gov ... [2] The mechanics of how the Saver's Match will flow to participant accounts and which institutions will be set up to accept it. [3] The worker protection, fiduciary, and prohibited transaction rules called for in Section 5 of the order. [4] The tax treatment of charitable contributions to IRAs on behalf of eligible workers. [5] Whether Treasury or DOL will have authority to encourage or default enrollment absent congressional action. [6] Whether and how the framework gets codified by Congress."  MORE >>

"The preamble states that it is not the intent of the Proposed Rule to prevent an individual from having overlapping coverage for fertility benefits under both a major medical plan and the fertility excepted benefit. Thus, an employee could be covered by a major medical plan that provides fertility benefits and the fertility excepted benefit, as long as the benefits are not coordinated (for example, under a typical coordination of benefits provision or other type of offset)."  MORE >>

"While there are several strategies to reduce the overfunding or minimize the financial consequences, this article focuses on the business owner's state of mind, which is similar to the four stages of grief. Invariably business owners' express denial, as their belief that virtually all of the plan's asset belongs to them is dispelled. This is generally coupled with anger seeking to blame someone else (usually their actuaries) for providing inadequate advance warning."  MORE >>

"For companies with 100 to 499 employees, benefits strategy is at an inflection point.... [This report] examines how VC‑ and PE‑backed companies with 100 to 499 employees are approaching healthcare, leave, retirement, and wellbeing programs as they move from startup benefits toward more established, scalable programs -- with an eye toward informing decisions for 2027 and beyond."  MORE >>

"Retirement planning is often addressed late in the merger process, yet decisions made before a transaction closes can significantly influence cost, compliance, employee confidence and long-term outcomes. A well-structured approach -- from pre-merger assessment through post-merger integration -- allows organizations to create a unified retirement strategy that supports employees and aligns with broader business objectives."  MORE >>

"[These] frequently asked questions provide a practical overview of how cash balance plans work, how they compare to other retirement arrangements, and what key design, compliance, funding, and distribution considerations may apply."  MORE >>

"If enacted, the legislation [HR 8314] would allow employers to establish a 'Qualified Benefit Options Plan,' permitting current and former employees to direct their employer contributions to benefit programs that meet their specific needs. The contributions to eligible tax-favored employer-provided benefit programs would be allocated without triggering taxable income solely due to that choice. The available benefits would include: [1] Nonelective contributions to a retirement plan; [2] Health savings account or health reimbursement arrangement contributions; [3] Qualified educational assistance benefits (including student loan repayments); [4] 'Other benefits which are excluded from gross income' under the Internal Revenue Code."  MORE >>

"[T]he main risks you face in retirement come from events that will either lower your expected assets or increase your expected spending liabilities. These risks include: [1] Less favorable than assumed investment returns; [2] Higher that assumed future inflation or cost increases; [3] Lower than assumed Social Security payments; [4] Uninsured asset losses; [5] Unanticipated spending ... [This article describes] how you can stress test some of these risks[.]"  MORE >>

"The Order directs the Secretary of the Treasury to establish, by January 1, 2027, an informational website (TrumpIRA.gov) that will ... list certain financial institutions that offer IRAs, accept Federal Saver's Match contributions, and meet additional criteria ... The website is intended to allow individuals to filter and compare IRAs based on cost and quality and to provide information about the Federal Saver's Match."  MORE >>

"A substantial majority of the teachers surveyed said they believe that having access to multiple plan options and multiple retirement providers is a good thing.... Nearly three-quarters of teachers ... said that they believe they are better equipped than their school districts to choose the right financial products and investments to finance their retirement."  MORE >>

"With the average boomer 401(k) account balance clocking in at $270,800 at the end of 2025 ... falling well short of the $1.46 million 'magic number' that American workers think they'll need to retire comfortably ... there's reason for concern. In fact, four of 10 Boomers think it's likely that they will outlive their savings[.]"  MORE >>

21 pages. "Account aggregation is more than a convenient feature to help providers and employers grow assets under management; it's ... critical to guaranteed lifetime income. Without the ability to see the whole puzzle, income modeling solves for only a portion of assets or potential assets, leaving withdrawal sequences inefficient and yielding suboptimal solutions for the growing number of participants who should and will leverage lifetime income solutions to support their retirement years. "  MORE >>

"Many retirees retire earlier than planned, often due to health or job factors. Social Security remains the primary retirement income source.... Pre-retirees face greater financial strain and exposure to shocks. Inflation is a major concern, especially for lower-income groups. Family financial support reduces retirement savings capacity. Caregiving responsibilities influence planning but are often underprepared for. Retirees generally manage financial shocks better than pre-retirees. Technology use is widespread, but AI adoption varies by age and income."  MORE >>

"[M]any states continue to require employers, regardless of industry, to offer a retirement plan. Adult-use cannabis companies ... are legally required at the state level to provide a plan while still facing limited access to compliant 401(k) providers because of ongoing federal illegality.... The complexity increases further for companies operating both medical and adult-use divisions.... Provider compliance risk has not gone away."  MORE >>

"CalSavers, the largest state-facilitated automatic individual retirement account program for people who do not have access to a workplace retirement plan in the U.S., reduced employees' fees for program operations and underlying investments on May 1.... [T]he fixed account fee per participant was reduced to $3.50 per quarter ($14 annually) from $4.25 per quarter ($17 annually). The total annualized asset-based fee was reduced to a range between 0.225% and 0.39%, from between 0.325% to 0.49%."  MORE >>

"New Securities Act Sections CFI 118.01 clarifies that, if a PEP meets the applicable requirements of (i) ERISA and (ii) the Internal Revenue Code, and otherwise meets the conditions of Section 3(a)(2) of the Securities Act of 1933, as amended (the 'Securities Act'), the Staff will not object if the PEP claims the Section 3(a)(2) exemption for any interest or participation in a 'single trust fund' even though multiple, unrelated employers participate in the PEP.... New Securities Act Forms CFI 126.45 provides that an employer participant in a PEP may register offers and sales of its own securities to employees on Form S-8."  MORE >>

"The cost and quality criteria specified in the order will narrow the IRAs eligible for being listed through the marketplace and may incentivize the development of new, low-cost, index-based products tailored to the new platform.... [T]he implementation timelines set forth in the Executive Order are tight. With the Saver's Match set to take effect on January 1, 2027, IRA custodians and recordkeepers will have a limited window to build the operational framework necessary to implement the federal matching contributions efficiently and accurately."  MORE >>

"Professional service providers -- e.g., accountants, bankers, advisors -- are trusted partners who can help convince small firms to offer retirement plans. However, many may unintentionally reinforce misperceptions about plan costs and administrative burdens, making adoption seem out of reach. Analysis of new survey results shows that the providers with the most success: [1] are familiar with simple low-cost plan options; [2] describe plans as a tool to boost recruitment and retention; and [3] provide hands-on guidance to help firms set up a plan."  MORE >>

"Relative to passive‑only investments, the additional returns from active fixed income are estimated to substantially improve retirement sustainability ... For a typical 20‑year retirement, these effects include 25% longer retirement horizons, retirement several years earlier, a 30%+ increase in match rates, or sustainable spending increases of roughly 9%, with benefits growing at longer horizons.... [C]ombining both active public and private fixed income further amplifies these gains, yielding improvements that are large, robust across historical regimes."  MORE >>

"[A] district court in California awarded summary judgment to Intel, ruling that ERISA does not impose a reasonableness requirement on actuarial assumptions used to calculate retirement benefits. This ruling comes on the heels of a recent appellate court decision that reached the opposite conclusion -- but that court has recently indicated it may reconsider the ruling." [Berkeley v. Intel Corp., No. 23-0343 (N.D. Cal. April 8, 2026)]  MORE >>

"President Donald Trump's April 30 Executive Order establishing TrumpIRA.gov and expanding access to retirement savings has quickly drawn a largely supportive reaction across the retirement industry ... [This article provides] a roundup of 12 statements received ... highlighting both optimism about the potential to expand access -- particularly through alignment with the Saver's Match -- and caution about execution, standardization, and the need for legislative follow-through."  MORE >>

"Currently, about half of plan sponsors have adopted at least one of the distribution provisions while 37 percent have adopted the natural disaster provision and 30 percent have adopted the domestic violence provision. We also asked why they are or are not adding these provisions and the answers range from 401(k) administration is complicated enough as it is, concerns about abuse, to participants requesting them. One employer added four but limited use to three per year, which is an interesting way to balance the flexibility in offering options with limiting abuse and leakage."  MORE >>

"Through a federally administered retirement-savings informational platform that highlights qualifying high-quality, low-cost, private-sector IRAs, the United States will promote retirement-savings participation, provide access to retirement-savings options similar to those enjoyed by Federal employees, and encourage workers to reap the rewards of the vibrant American private-sector along with the power of compound earnings....

"The Secretary of the Treasury shall, by January 1, 2027, establish a website (TrumpIRA.gov) that provides individuals, with a particular focus on independent contractors, self-employed individuals, and other workers who do not have access to an employer-sponsored retirement plan, with information about high-quality, low-cost IRAs. Individuals who contribute to qualifying IRAs, and who are otherwise eligible, are entitled to a Federal Saver's Match contribution of up to $1,000[.]"  MORE >>

"TrumpIRA.gov, which will be operational by January 1, 2027, will allow workers to filter and compare IRAs based on cost, quality, and investment options, ensuring that hard-working Americans can make informed retirement savings decisions at low cost.... Under the Federal Saver's Match program, the Federal government will contribute up to $1,000 per year to eligible lower- and middle-income workers who contribute to qualifying retirement accounts."  MORE >>

"All asset groups saw significant retention -- and even accumulation -- of assets by 21-22 years after retirement. Thirty-seven percent of the low-asset group preserved at least 80 percent of their asset value, with 33 percent retaining 100 percent or more of their retirement assets.... While 42 percent of middle-asset and 43 percent of high-asset retirees had less than 50 percent of their starting assets left by 21-22 years after retirement, 54 percent of the low-asset group did. "  MORE >>