"Plans must disclose and explain the significance of a determination of pension liabilities made using a discount rate based on low risk fixed income securities. The interpretation and usefulness of the new liability measurement will vary from plan to plan and employer to employer. Plan sponsors will need to work with their consultants to arrive at the appropriate understanding under their own circumstances."  MORE >>

"Based on the concerns noted from the DOL, a plan that has crypto as an investment option will most likely be a bright red flag waiving in the face of the DOL, saying 'audit me!'.... Giving participants an investment option for their retirement account which has no tangible valuation metrics, and does not have trained managers to monitor the values is a significant risk which plan fiduciaries should avoid."  MORE >>

"Pressure is mounting on the [DOL] to back off its guidance against cryptocurrency investing ... The potential consequences of the anti-crypto guidance ... have already prompted global money manager T. Rowe Price Group Inc. to pump the brakes on an $18 million class action settlement agreed to in January.... [T]he $18 million value the company agreed to in that deal doesn't take into account the added costs the [DOL's] new brokerage window interpretation could add to the company, said [T. Rowe Price attorney Brian Boyle]." [[Feinberg v. T. Rowe Price Group, Inc., No. 17-0427, (D. Md. brief in support of settlement agreement Apr. 9, 2022; response of defendant Apr. 25, 2022)]  MORE >>

"Cryptocurrencies can present serious risks to retirement savings, including: [1] Valuation concerns.... [2] Obstacles to making informed decisions.... [3] Prices can change quickly and dramatically.... [5] Evolving regulatory landscape."  MORE >>

23-page chart presents provisions of SECURE 2.0 [HR 2954], as passed by the House on March 29, side-by-side with current law.  MORE >>

"[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Graphic Communications Conference of the International Brotherhood of Teamsters National Pension Plan (GCC-IBT Plan). The GCC-IBT Plan, based in Carol Stream, Illinois, covers 31,715 participants in the printing industry. The plan will receive approximately $1.29 billion in special financial assistance, including interest to the expected date of payment to the plan. The plan was projected to run out of money in 2022."  MORE >>

"[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Graphic Arts Industry Joint Pension Plan (Graphic Arts Plan). The Graphic Arts Plan, based in Washington, D.C., covers 9,854 participants in the printing industry. The plan will receive approximately $440 million in special financial assistance, including interest to the expected date of payment to the plan. The plan was projected to run out of money in 2022."  MORE >>

"Previous research has shown that spending drops immediately at the moment the paychecks stop, and a few studies have found that households, once retired, reduce their consumption over time. But a new study that also takes the long view suggests that the spending decline is not what retirees want to do but what is necessitated by their financial and health constraints."  MORE >>

"Retirement planning benefits are not taxable to employees if they meet the requirements of the exclusion for 'qualified retirement planning services' in Code Section 132(a)(7). The federal tax exclusion applies to the fair market value of any employer-provided retirement planning services -- regardless of any amount employees contribute to the cost. The value of the services is also excluded from each employee's wage base for employment tax purposes (e.g., income tax withholding and FICA)."  MORE >>

"Over 7 in 10 workers are at least somewhat confident ... Retirees also remain confident, with nearly 8 in 10 confident they will have enough money to live comfortably throughout retirement, including 1 in 3 who are very confident.... Almost 4 in 10 workers and 2 in 10 retirees say they don't know who to go to for financial and retirement planning advice.... More than 4 in 5 workers who are offered a workplace retirement savings plan are satisfied with the benefit."  MORE >>