"This article focuses on the information that must be obtained about the participant -- the 'retirement investor' -- as a part of a compliant best interest process.... Unfortunately, the DOL doesn't go into any detail concerning its expectations of the specific information needed ... Fortunately, though, the SEC staff has recently issued fairly detailed guidance on the information needed to recommend an 'account type' -- and a rollover recommendation is considered to be an account-type recommendation."  MORE >>

"Participation in mandatory programs, called auto-IRA programs. is required for employers who do not sponsor their own 401(k) or 403(b) plans. Some plans, such as California's Secure Choice program, also known as Cal Savers, even allow employees to enroll on their own. However, legal uncertainties and the COVID pandemic have delayed implementation of these and additional state programs. As a result of recent Supreme Court action, that may change, and more states may be implementing state- run savings programs."  MORE >>

"In their petition for rehearing, plaintiff-petitioners argued that the Second Circuit ruling deviated from established precedent that precluded plan reinterpretations from decreasing previously awarded benefits.... Petitioners also argued that the fund's reinterpretation of the conditions of retirement for participants applied 'discretionary [and] subjective' conditions on a participant's ability to receive benefits, which violated ERISA regulations. " [Metzgar v. U.A. Plumbers and Steamfitters Local No. 22 Pension Fund, No. 20-3791 (2d Cir. Mar. 2, 2022; petition for rehearing filed Apr. 15, 2022)]  MORE >>

"The new complaint represents the plaintiffs' second try in arguing their case.... The plaintiffs suggest that UPS pension plan fiduciaries committed multiple ERISA breaches while calculating the value of joint and survivor annuity benefits to be paid out of the company's pension plan relative to the value of the plan's standard single life annuity option." [Brown v. United Parcel Service of America, Inc., No. 22-1672 (N.D. Ga. complaint filed Apr. 27, 2022)]  MORE >>

"In addition to providing a general overview of how digital assets investments and blockchain technology work, this paper answers questions on related challenges and developments for plan sponsors to consider. At a minimum, plan sponsors should be learning about the digital assets landscape to understand its potential to disrupt their existing portfolio investments and generate returns for the plan."  MORE >>

33 pages. "[A]bout two-thirds of participants in their twenties had more than 80 percent of their 401(k) plan accounts invested in equities at year-end 2019, up from less than half of participants in their twenties at year-end 2007.... At year-end 2019, 18 percent of all 401(k) participants who were eligible for loans had loans outstanding against their 401(k) plan accounts, down slightly from year-end 2018."  MORE >>

"Stock markets tumbled in April, but sharply higher interest rates offset most or all of the impact for pension sponsors. [The] two model plans saw mixed experience on the month, with Plan A treading water, remaining up almost 5% for the year, while the more conservative Plan B lost 1% last month and is now even through the first four months of 2022."  MORE >>

An unofficial monthly report of the Moody"s Daily Long-term Corporate Bond Yield Averages and Moody"s Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).  MORE >>

"Here's how Social Security benefits, taxes and the retirement age have changed over time."  MORE >>

"Right now, those nearing or in retirement must confront the twin troubles of inflation and falling markets. One of these events, however, is worse than the other. But which one? There's no real consensus, but plenty of opinion on the matter. What follows is a series of interviews that volley back and forth between the two."  MORE >>

"This year's Handbook reflects updates in applicable law and practices, including the SEC's proposed clawback rule in connection with the Dodd-Frank Act; compensation design considerations in the continuing era of COVID-19 and other uncertainties; the now-widespread focus on gender pay gap and environmental, social and governance considerations; and the evolving role of compensation committees in light of these and other developments.... [T]he Handbook is intended to help compensation committee members understand and comply with the duties imposed upon them and to serve as a useful resource for those who advise compensation committees."  MORE >>