"Section 4302 ... authorizes PBGC to assess a civil penalty of up to $100 a day for failure to provide a notice under subtitle E of title IV of ERISA. Section 4071 ... authorizes PBGC to assess a civil penalty of up to $1,000 a day for failure to provide a notice or other material information under subtitles A, B, and C of title IV and sections 303(k)(4) and 306(g)(4) of title I of ERISA.... The multiplier for 2022 is 1.06222. The adjusted maximum amounts are $2,400 for section 4071 penalties and $320 for section 4302 penalties."  MORE >>

"The District Court dismissed the plaintiffs' 'conclusory allegations' that the Intel Funds' substantial allocations of alternative assets was a per se breach of the plan fiduciaries' duty of prudence. The District Court also dismissed the plaintiffs' allegations that the Intel Funds were imprudently designed when compared to comparator benchmark funds selected by the plaintiffs[.]" [Anderson v. Intel Corp. Investment Policy Comm., No. 19-4618 (N.D. Cal. Jan. 8, 2022)]  MORE >>

12 pages. "Retirees receive Social Security benefits based on a progressive formula that awards a percentage of average past earnings.... The formula originally did not account for earnings from jobs exempt from Social Security taxes, many of which provide separate pensions. In response to this potential windfall, Congress modified the formula to reduce benefits when a retiree receives such a separate pension payment. But Congress left benefits unchanged if the pension payment was 'based wholly on service as a member of a uniformed service.' ... The National Guard of the United States is defined as a uniformed service, Section 410(m), so whether the uniformed-services exception applies depends on whether Babcock's technician work was service 'as' a member of the National Guard. It was not." [Babcock v. Kijakasi, No. 20-480 (S. Ct. Jan. 13, 2022)]  MORE >>

28 presentation slides. What are an employee stock ownership plan"s (ESOP) internal trustee's fiduciary duties? What are some of the most common liability areas for trustees? And how can trustees prevent common liability pitfalls?  MORE >>

"Investor contributions to target-date mutual funds made a comeback in 2021 after the popular retirement savings vehicles saw net redemptions for the first time in 2020. During the 2021 calendar year, net flows into target-date mutual funds totaled about $24 billion, up from net outflows of $7.2 billion in 2020. Despite the rebound, net contributions were still down from their $69.9 billion peak in 2017 and less than half of the $59.8 billion of net flows in 2019."  MORE >>

"In 2021, corporate pension funding improved by $183 billion for the year ... Plan assets outperformed expectations, posting an annual return of 8.33% and a gain of nearly $64 billion.... The funded ratio climbed from 90.3% at year-end 2020 to 99.6% as of December 31, 2021. The last time the monthly funded ratio was this close to full funding was August 2008 (at 100.3%)."  MORE >>

"This effort is part of a MissionSquare Research Institute collaboration with the International Public Management Association For Human Resources (IPMA-HR) and the National Association of State Treasurers Foundation (NASTF) ... Each fact sheet provides a summary of the jurisdiction's approach, outcomes, lessons learned, and future plans. Additionally, the fact sheets provide ideas, advice, and networking opportunities for other public employers exploring financial wellness programs.... The Financial Wellness Fact Sheets also are available on an interactive map."  MORE >>

"The value of your business can change over the years, based on endless variables: demand for your goods and services, the economic climate, employee performance, and the success or failure of a new venture. Therefore, it's crucial that you not put all your retirement nest eggs into one basket. To put it another way: it's important to diversify your plans with other sources of retirement income."  MORE >>

40 pages. "In mid-2021, 37 percent of US households owned [IRAs]. More than eight in 10 IRA-owning households also had employer-sponsored retirement plan accumulations or had defined benefit plan coverage.... Rollovers from employer-sponsored retirement plans have fueled the growth in IRAs..... IRA withdrawals were infrequent and mostly retirement related.... Eighty-three percent of households that made traditional IRA withdrawals were retired."  MORE >>