"Advisers should begin gearing up to ensure their compliance with the Impartial Conduct Standards well ahead of the January 31, 2022 ... While most firms are currently operating in compliance with a best interest or fiduciary standard ... adjustments to policies and procedures are still likely needed. In fact, the DOL has stated that firms complying with current standards under Regulation Best Interest (Reg-BI) or the Advisers Act may not necessarily be in compliance with PTE 2020-02."  MORE >>

"[O}ver the past five decades ... private-sector employees have become less likely to be covered by defined benefit (DB) pension plans and more likely to be covered by defined contribution (DC) pension plans. Among all private-sector workers, 68% had access to either a DB or DC plan (or both) in 2021. Among these workers, 15% had access to a DB plan, 65% had access to a DC plan, and some had access to both." [IF12007, Dec. 27, 2021]  MORE >>

"[1] There are 55 million retirees in the U.S. (accounting for 19% of the population), a number that will increase to 71 million by 2030 and 77 million by 2035 ... [2] Retirees drew nearly $2 trillion in income in 2019, at an average of $33,277 per retiree....[3] Retirees and Boomer households yet to retire own 74% of all investable assets -- about $34 trillion.... [4] 71% (about 99 million) of American civilians had access to a workplace retirement plan in 2020, representing little growth in access since 2016 (70%)."  MORE >>

"Most plans (93.6%) in 2019 were DC plans, but a little over three-fourths of participants (75.9%) were in DC plans.... Most pension plans (99.7%) -- covering 89.1% of participants -- were single-employer or multiple-employer plans. More than two-thirds (69.3%) of the assets in private-sector plans were in single-employer DC plans. In 2019, single-employer DC plans held $7.2 trillion in assets." [IF12008, Dec. 27, 2021]  MORE >>

"The percentage of 401(k) plans offering the option grew to 86% in 2020, up from 75% in 2019 and 49% a decade ago ... The largest employers are most likely to offer the option -- about 91% of 401(k) plans with more than 5,000 savers have a Roth feature."  MORE >>

"[A] full one-quarter of Americans now view rising inflation as the single greatest risk to their retirement plans, more than doubling from 2020 (8%). This focus on inflation is significantly higher than other risks to retirement, many of which saw a significant decline in concern from 2020[.]"  MORE >>

"They are viewed as less risky than traditional DB plans, easier to manage, easier for employees to understand, and are more popular in certain industries than in others."  MORE >>

29 pages. "This document contains final revisions to the instructions for the Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan effective for plan years beginning on or after January 1, 2021. These final revisions to the instructions were included in a broader proposal of form and instruction changes published on September 15, 2021. The limited number of instruction changes in this document implement annual reporting changes for multiple-employer plans (including pooled employer plans) that result from statutory provisions in section 101 of the [SECURE Act]. The other changes to the Form 5500 Annual Return/Report included in the September 2021 proposal will be the subject of one or more separate and later final notices.... The final instruction revisions in this document are effective for plan years beginning on or after January 1, 2021."  MORE >>

"[T]he full Senate has not acted on her nomination, and prior to adjourning the first session of the 117th Congress for the holiday break, [Lisa Gomez] was among several nominees whose nominations will not be allowed to carry over into the second session. They must be resubmitted after the new session convenes in early January and the hearing/approval process repeated."  MORE >>