"The IRS Proposed Regulations undercut one of the basic assumptions of the ten-year deferral rule -- that the beneficiary need not take annual RMDs during the ten-year deferral period. Before the SECURE Act, non-individual beneficiaries did not have to take annual RMDs during the five-year deferral period, which led to the same assumption for the ten-year deferral period for individuals who did not qualify as eligible designated beneficiaries. The IRS Proposed Regulations reach the opposite conclusion."  MORE >>

"[A]nalysis of participants who were automatically enrolled in their employers' plans in 2021 reveals that less than 6% opted out.... [T]he percentage who opted out was similar if the default was 3% or the default was ≥6% of wages.... [A]lmost 90% of participants automatically enrolled in 2021 kept their investments in the [QDIA] chosen by their employer. Collectively, these findings point to the power of nudges to influence behavior but raise the question of whether they go far enough or could serve a greater social purpose."  MORE >>

"For workers in businesses that have shorter employee tenures, a long-graded vesting schedule could be seen as unfair to workers. But for plan sponsors, vesting schedules can control costs and help with employee retention."  MORE >>

"This article discusses nine areas of focus for DOL plan fiduciary investigations that may affect plan service providers, trustees and plan administrators. Plan fiduciaries and their service providers may want to consider a self-review of their ERISA compliance, especially with respect to these nine areas, before investigators come knocking on their door."  MORE >>

"Workers and retirees in financially challenged multiemployer plans can now sleep better knowing that their pensions will be protected. [The Pension Rights Center applauds] the PBGC for making significant improvements to the interim rule, which will provide plans with greater resources and enhanced flexibility."  MORE >>