"The U.S. Treasury Department accepted comments on the proposed regs through May 25, 2022 [Non-eligible designated beneficiaries] who missed 2021 RMDs may want to delay action to see whether more definitive guidance comes out before year-end, including, ideally, relief for those who relied on the version of Publication 590-B that indicated RMDs weren't necessary."  MORE >>

"Inflation in the 12 months ending May 31, 2022, was 8.6% as reported by BLS on June 10, 2022. With only four months remaining for federal fiscal year 2022, [the authors forecast] the 2023 IRS limits could set a record one-year increase, both in dollars and percentage, even if inflation transitions to 3.0% annually (0.25% per month) for June through September 2022."  MORE >>

"While the prevalence of settlements in ERISA cases means fewer legal conclusions have been drawn by the courts than one might expect, certain important lessons about fiduciary duties are emerging.... So far, the pace of filings in 2022 has been extremely rapid, with some 25 to 30 cases filed in the first four months of the year."  MORE >>

"Plan features such as hardship distributions and loans tend to be popular because they help employees feel more comfortable putting money into the plan knowing they can access their savings in the case of an emergency. It is important to weigh the benefits and considerations of each distribution feature and how they could affect your plan's objectives."  MORE >>

"In his letter to [the GAO Comptroller General], [House Ways and Means Committee Chairman Richard E. Neal (D-MA)] noted the importance of DC savings plans for Americans who are planning and managing their retirement, and asked the agency to provide additional information about the available cryptocurrency investment offerings and what oversight of those options exists."  MORE >>

"Your pension plan's improved funding status is now face-to-face with market volatility, geopolitical uncertainty and hints of a recession. If you've been contemplating de-risking your defined benefit pension plan, the time may be right to develop a successful pension risk transfer strategy."  MORE >>

"[T]he decisions on behalf of the ESOP to enter into the loan and to purchase stock involve the disposition of plan assets and are thus fiduciary decisions.... [It] is not realistic to expect that the company or its Board or designated employees can be isolated from all fiduciary responsibility.... Having the independent fiduciary serve as ESOP Trustee on an ongoing basis demonstrates continued compliance with prudence and loyalty [and] is the most useful approach to risk mitigation."  MORE >>