"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

"While the DOL didn't provide any examples of reasons that would or would not be compliant, the SEC has.... [It] is likely that the DOL will follow the SEC's lead on this point.... [T]he mere existence of 'more investment options' is, standing alone, not a meaningful factor. Instead, the issue is whether having more investment options provides value to the particular investor. In order to make that determination, financial institutions and investment professionals should have an idea of how the participant will be invested in the IRA."  MORE >>

"Note that the DOL urged 'extreme care' before considering a cryptocurrency investment vehicle ... The DOL does not say whether, and if so how, extreme care differs from prudence, but the Crypto Guidance outlines the DOL's concerns that presumably underlie its admonition to use 'extreme care' even before considering a cryptocurrency investment vehicle."  MORE >>

"[T]he court held that the plaintiff failed to allege sufficient facts to allow for inferences that the 'comparable plans' offered the same 'basket of services.'... The court held that the plaintiff's duty of loyalty claim was intrinsically dependent on her dismissed breach of prudence claim and therefore dismissed the breach of duty of loyalty claim." [Cunningham v. USI Ins. Servs., LLC, No. 21-1819 (S.D.N.Y. Mar. 25, 2022)]  MORE >>

"According to the Tax Court, independent oversight by an IRA trustee or custodian to track and monitor an IRA's assets is one of the key aspects of the statutory scheme under Code Section 408. It explained that an owner of a self-directed IRA may not take actual and unfettered possession of the IRA assets.... 'Constructive [tax] receipt occurs where funds are subject to the taxpayer's unfettered command and she is free to enjoy them as she sees fit.' " [McNulty v. Commissioner, No. 1377-19 (T.C. Memo Nov. 18, 2021)]  MORE >>

"Robert J. Mack of Colorado Springs, who retired from government work in 2012 and designated his then-wife as the beneficiary of his retirement benefits, argued to the Supreme Court that the trial judge overseeing his divorce was essentially compelled to honor his request to alter his retirement plan and allow the benefits to flow directly to Mack. But in an April 11 opinion, Chief Justice Brian D. Boatright indicated that while a retiree may make the request, Colorado law 'does not obligate the court to carry out the retiree's wishes.' " [In re marriage of Mack, No. 21SC62 (Colo. Apr. 11, 2022)]  MORE >>

"One of the most cost-effective methods for addressing the challenges of employee financial literacy training is video.... In addition to offering the advantage of privacy, videos have no bounds of use. It's been around for a while, but NetFlix et al have made 'binge-watching' a social norm. Is this habit about to trickle down into 401k education and financial literacy in general?"  MORE >>

"The [PBGC] announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Graphic Communications Union Local 2-C Retirement Benefit Plan. The plan, based in Warren, Michigan, covers 535 participants in the printing industry. The GCU 2-C Plan became insolvent in January 2015.... The plan will receive $40.8 million in SFA, including interest to the expected date of payment to the plan."  MORE >>

"The [PBGC] announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Teamsters Local 617 Pension Plan. The plan, based in Ridgefield, New Jersey, covers 891 participants in the transportation industry. The Local 617 Plan became insolvent in March 2020.... The plan will receive $155.8 million in SFA, including interest to the expected date of payment to the plan."  MORE >>

"The [PBGC] announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Retirement Benefit Plan of GCIU Detroit Newspaper Union 13N with Detroit Area Newspaper Publishers. The plan, based in Warren, Michigan, covers 563 participants in the printing industry. The Detroit Newspaper Union Plan became insolvent in April 2019.... The plan will receive $105.6 million in SFA, including interest to the expected date of payment to the plan."  MORE >>

"[W]hile Millennials have the jump on Boomers when it comes to saving for retirement by starting to save nearly a full decade earlier in their mid-20s, they are likely to spend less time managing their personal finances and investments once in retirement, as compared to Boomers or Gen X. Another significant generational shift ... is that Millennials will be more likely to use their savings to achieve their dream lifestyle and pursue their passions along the way and once in retirement, while Boomers and Gen X will aim to continue accumulating wealth during their retirement years."  MORE >>

"The pro rata rule kicks in when investors have a traditional IRA with both deductible and nondeductible contributions. Clients trip up on the idea they can simply convert a nondeductible contribution to a Roth IRA. There are workarounds to the rule, such as taking QCDs or rolling pretax funds into a 401(k)."  MORE >>

"The tax treatment of stock options and that of restricted stock is different (e.g., in regards to the taxable amount and the timing of income inclusion, ability to make an 83(b) election, etc.). The situations in which it makes sense to grant stock options and those in which it makes sense to grant restricted stock often overlap, and it may be important to understand the differences and nuances of these two types of awards so that the one that best suits business objectives is used."  MORE >>