"The electronic version of Form 5300 and its instructions were also revised in format; as was the information requested in the form.... including: [1] Eliminating five-year remedial amendment cycles, [2] Generally limiting determination letter requests to initial plan qualification and qualification on plan termination, [3] Requesting new information for defined benefit plans in connection with Notice 2015-49 ... and [4] Requiring applicants for a multiple employer plan to request a letter for the plan in the name of the controlling member."  MORE >>

"[S]ome PEPs are designed with very limited flexibility in their offering (e.g., no loans, standard payroll feed, required safe harbor design), while others allow for more flexibility.... Some PEPs have a flat fee, some add an expense load to the assets invested, others charge a participant fee, and many use a combination ... PEPs will vary in terms of how much fiduciary responsibility they will assume."  MORE >>

26 pages. "This report provides an overview of employer-sponsored pensions: both DB and DC plans sponsored by the federal, state, and local governments and employers in the private sector; IRAs (including IRA-based retirement plans); and state-facilitated retirement savings programs. The report provides context for understanding current legislative efforts to improve retirement security." [R47119, Jun. 1, 2022]  MORE >>

"[U]sing in-person and virtual one-on-one consultations and communicating across different media, including text messaging and email, can reach the broadest swath of participants. Messaging should use plain language that even those without a financial background can easily understand. Here's a look at how communications might vary, depending on a participant's age and time until retirement."  MORE >>

"Cryptocurrency held or traded in a Roth 401(k) account would accrue zero capital gains taxes, no matter how much the balance increases by the time an investor retires.... Because cryptocurrency behaves differently in markets than traditional assets do means it can be a strong potential portfolio diversifier."  MORE >>

"[S]ometimes it makes sense to instead do a 'reverse rollover' -- from an IRA to a 401(k).... The main reason is to avoid getting hit by the pro-rata rule if you're converting traditional after-tax IRA funds to a Roth IRA -- a 'backdoor' Roth IRA conversion.... There are other good reasons to move your IRA to your plan: ... But, like with most retirement decisions, there's another side of the coin."  MORE >>

"[D]espite Americans' worries about health care and long-term care costs in retirement, they still desire to live longer, and nearly seven in 10 Americans (69%) want to live to age 100.... [R]etirees now see the ideal length of retirement as 29 years.... [O]nly 27% [of pre-retirees] see today's retirement as 'a time for rest and relaxation,' while 55% define it as 'a new chapter in life.' "  MORE >>

"During April, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 98.3% of a plan's total liabilities to 97.7% of those liabilities.... During the same time period, the average annuity purchase costs across all insurers inched upward, from 102.5% to 102.8%. This means that the competitive bidding process is estimated to save plan sponsors on average around 5.1% of PRT costs as of April 30."  MORE >>

"[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Mid-Jersey Trucking Industry and Teamsters Local 701 Pension Plan. The plan, which is based in North Brunswick, New Jersey, covers 1,623 participants in the transportation industry.... The plan will receive $142.2 million in SFA, including interest to the expected date of payment to the plan."  MORE >>

"[T]hose municipalities currently engaged in a renewal of their collective bargaining agreements may wish to hold off or modify discussions around a voluntary 2022 COLA as this legislation is ... likely to pass before the end of summer. In the meantime, municipalities may want to assemble the information needed to calculate the mandated COLA."  MORE >>

"While current inflation data is likely to be on clients' minds, longer-term inflation trends tend to be better predictors for sustainable retirement spending, particularly for bond-heavy portfolios. And because inflation tends to be mean-reverting, long periods of low inflation are usually followed by higher inflation (which depresses real sustainable withdrawal rates).... [W]hile no single economic indicator can reliably determine future market returns, considering multiple factors together can give advisors a better idea of how sustainable portfolio withdrawals might change going forward."  MORE >>

"A voluntary estimate of lifetime income based on accumulated savings has merit ... but only if the estimate: [1] Is accurate, [2] Is understandable to everyday workers who often suffer from financial innumeracy, [3] Incorporates all retirement-related assets, or can be applied to all retirement-related assets, and [4] Can be relied upon for retirement planning purposes. This mandated disclosure is none of the above."  MORE >>