"DOL's Compliance Assistance Release 2022-01 ... specifically stated that [the DOL] was not only concerned about direct cryptocurrency investments but also about other products that allow cryptocurrency investments. This statement implies that fiduciary responsibilities could extend to include investments offered through brokerage windows."  MORE >>

"[This post] outlines the basics of [PTE 2020-02], details the six key conditions [it requires] of financial advisors ... and provides tips for advisory firms to comply with the new rules.... Even though it may seem daunting when viewed in its entirety, compliance with PTE 2020-02 can be more manageable by breaking it down into its individual components and determining where the advisor's existing processes and tools can be used or adapted."  MORE >>

29 pages. "Over half of participants leaving their DC plans chose to move their money directly to an IRA or a new employer's DC plan ... 39% still took a cash distribution ... The percentage of retirement-ready participants in plans using both auto-enrollment and auto-escalation reached 65% in 2022.... While 22% of plan sponsors stop their participants' auto-increases when their total contribution reaches 10% of income, 60% of plan sponsors use limits of 15% or higher."  MORE >>

"401(k) plan sponsors should consider doing the following to maintain compliance with the 401(k) plan's definition of compensation: [1] periodically review or audit their plan's compensation definition to make sure that the correct compensation amounts are being used for 401(k) deferral and match purposes; [2] any periodic compensation review or audit should include a check of any amounts specifically designated as included or excluded under the applicable plan document; [3] random testing of individual participant accounts for compliance should be conducted[.]"  MORE >>

"As passed by the HELP Committee, [the RISE & SHINE Act (S 4353)] includes ... measures to expand plan coverage for part-time workers and a new rule allowing employers to set up automated payroll deduction emergency savings accounts for their workers.... [T]he HELP Committee also advanced the Increasing Small Business Retirement Choices Act [S 4086] ... [which] would make it easier for small businesses to offer more comprehensive retirement benefits to their workers by reducing administrative expenses."  MORE >>

"SECURE 2.0 passed the House in March 2022 and if it passes through the Senate with language that allows institutional 403(b) plans to offer collective investment trusts (CITs), those 403(b) plans would gain access to a new investment vehicle that can potentially introduce pricing and administrative efficiencies, as well as open the door to offer pooled Stable Value funds.... [T]he most important innovations and their potential outcomes ... [are] [1] potentially lower costs and opportunities for greater administrative efficiency, [2] flexibility for more investment innovation, and [3] more choice in short-term investing options."  MORE >>

"Results show significant differences in distribution choices based on the type of retirement plan, with individuals covered by defined benefit plans significantly more likely to select annuities compared to similar employees covered by defined contribution plans.... [D]ifferences in how higher annual income affects annuity choices based on coverage by DB plans."  MORE >>

17 pages. "Periodic cost-of-living adjustments (COLAs) in some form are provided on most state and local government pensions.... Considerable variation exists in the way COLAs are designed ... This brief presents a discussion about the purpose of COLAs, the different types of COLAs provided by government pension plans, and an overview of recent state changes to COLA provisions."  MORE >>

"[T]he program's finances are in a similar, albeit marginally better, position in 2022 relative to what they were in 2021 ... largely attributed to a stronger-than-expected recovery from the recession experienced in 2020. Under intermediate assumptions, the projected combined trust fund asset depletion date is 2035 (versus 2034 in last year's report), after which the percentage of benefits payable would be 80% (versus 78% in 2021)." [IF 12133 Jun. 14, 2022]  MORE >>