121 pages. "This document gives notice of a proposed rule that, if adopted, would supersede the [DOL's] existing procedure governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of [ERISA], the Internal Revenue Code of 1986, and the Federal Employees' Retirement System Act of 1986 (FERSA).'

Detailed description of the changes starts at page 11. The following summary appears in the DOL press release:

'The Proposed Exemption Procedure Regulation would promote the department's prompt and efficient consideration of all exemption applications by, among other things:

• Clarifying the types of information and documentation required to complete an application.
• Revising the definitions of a qualified independent fiduciary and qualified independent appraiser to ensure their independence.
• Clarifying the content of specific reports and documents applicants must submit to ensure that the department receives sufficient information to make the requisite findings under ERISA Section 408(a) to issue an exemption.
• Updating various timing requirements to ensure clarity in the application review process.
• Specifying items that are included in the administrative record for an application and when the administrative record is available for public inspection.
• Expanding opportunities for applicants to submit information to the department electronically.'

MORE >>

"This [article] provides an overview of key issues for plan sponsors to consider in 2022 and a calendar outlining important deadlines for qualified plans.... [I]ssues that are new for 2022 ... [1] SECURE Act and other COVID-related changes ... [2] Lifetime income illustrations for defined contribution plans ... [3] Missing participants guidance ... [4] Cybersecurity guidance ... [5] Adoption of preapproved defined contribution plans ... [6] IRS updates the employee plans compliance resolution system ... [7] ESG investments, proxy voting, and other fiduciary investing issues."  MORE >>

"The RFI and other recent proposed regulations indicate that the DOL is actively creating a framework for the government and retirement plan sponsors' roles in the protection of pensions and retirement savings from climate-related financial risk."  MORE >>

"Many of the new IRA and retirement plan rules contained in the SECURE Act seemed fairly straightforward. But like any new statute, these rules also created questions, such as those relating to the new post-SECURE beneficiary options. Fortunately, many of these questions have been addressed in the proposed regulations. But the new regulations also pose some challenges."  MORE >>

"It appears that the proposed regulations do not allow a defined benefit plan to provide a single uniform required beginning date of April 1, following the calendar year of attainment of age 70½. That means that a plan amendment would be required to change the required beginning date for those born on or after July 1, 1949."  MORE >>

"PRT sales were $12.8 billion in the fourth quarter, down 16% from prior year. In 2021, overall PRT sales were $38.1 billion in 2021, 42% higher than sales in 2020.... There were 172 buy-out contracts sold in the fourth quarter, resulting in a total of 420 buy-out contracts for 2021. This represents a 3% year-over-year decline for the quarter and year. These contracts covered more than 440,000 pension participants."  MORE >>

"[1] Failing to name a beneficiary ... [2] Choosing the wrong beneficiary ... [3] Establishing a trust incorrectly ... [4] Neglecting to take required minimum distributions (RMDs)."  MORE >>

10 pages. "Some plan participants of defined contribution plans may lack the resources and/or knowledge needed to make informed choices during the retirement savings accumulation and decumulation phases.... This issue brief addresses how retirement program design can impact decisions that participants make with the goal of improving retirement security."  MORE >>

"Pension poverty is a major policy issue, ... [and] strikes more women than men for a whole host of reasons: [1] Women are not earning as much as men (and thus contribute less to their retirement). [2] Women have less linear career paths because of the nature of their work (part-time vs full-time), child-raising and elderly care. [3] Women live longer than men ... [4] Lack of flexible workplaces disadvantaging women. [5] Lack of government support (i.e. paid parental leave). [6] Most women work in jobs with no defined-benefit or any retirement plan."  MORE >>