"The assumptions provided in the final rule are more likely to match a plan's actual experience, making eligible plans more likely to maintain their solvency through 2051.... By allowing a limited amount of additional diversification in the investment of SFA, the final rule attempts to balance the security of the taxpayer-funded SFA and the need to achieve investment returns to maintain solvency."  MORE >>

"The D.C. Circuit joins the [Sixth Circuit] in arriving at this conclusion.... At the time of withdrawal, the applicable PBGC Rate was 2.71%, and the Funding Interest Rate was 7.5%.... The Court held that the Fund actuary's use of the risk-free PBGC Rates ... violated the statutory command to use assumptions that are the 'best estimate of anticipated experience under the plan'." [United Mine Workers of America 1974 Pension Plan v. Energy West Mining Co., No. 20-7054 (D.C. Cir. July 8, 2022)]  MORE >>

"The entire retirement account balance of a Colgate-Palmolive retirement plan participant who lives in South Africa was distributed to a bank account in Las Vegas.... The lawsuit ... alleges that plan providers missed several red flags." [Disberry v. Employee Relations Committee of the Colgate-Palmolive Company, Alight Solutions, LLC, and the Bank of New York Mellon Corporation, No. 22-5778 (S.D.N.Y. complaint filed Jul. 7, 2022)]  MORE >>

"Employers using pre-approved plan documents for their defined contribution retirement plans, such as 401(k) plans, must adopt restated adoption agreements by July 31, 2022.... If a retirement plan was amended in 2021, the plan sponsor may need to issue a summary of material modifications (SMM) or update the [SPD] to reflect the change.... [For] a plan year that ended December 31, 2021, the SMM must be distributed no later than July 29, 2022."  MORE >>

"Retirement plan documents must be kept throughout the life of the plan as they are needed to determine the calculation of a participant's benefit. This means all retirement plan documents, amendments, interim amendments, restatements, loan policies, QDRO policies, etc., must be retained, starting with the inception of the retirement plan, even after they have been superseded.... Maintaining the retirement plan's complete records rests with the plan sponsor, not your third-party administrator."  MORE >>

"The funded status of the 100 largest corporate defined benefit pension plans decreased by $13 billion during June ... breaking a six-month streak of gradual improvements.... As of June 30, the funded ratio dropped to 106.3%, down from 107.1% at the end of May. The current funded ratio at mid-year is still well ahead of the 97.9% funded ratio seen at the start of 2022."  MORE >>

Infographic. "With half of employees facing risks to their retirement security, they look to their employers for help. Explore actions you can take."  MORE >>

"[A] comfortable retirement is more than just about money. This is where a financial coach comes in. Someone experienced with the types of questions pre-retirees ask will inspire confidence. And confidence is the number one priority when the desire is retirement readiness."  MORE >>

"By July 31, employers that sponsor self-funded medical plans must report and pay their PCORI fee. By July 31, employers that sponsor calendar-year employee benefit plans that are subject to ERISA must file a Form 5500 ... or request an extension by filing a Form 5558."  MORE >>

"[1] HSAs are a great retirement savings opportunity ... [2] HSAs go beyond Health Flexible Spending Account (FSA) qualified expenses ... [3] Matching contributions drive HSA balances ... [4] HSAs cover medical costs now -- and later ... [5] HSAs can be paired with decision-support tools ... [6] Health FSAs complement HSAs ... [7] Employers can provide extra support through HSA plan design ... [8] It's easy to invest HSA balances ... [9] HSAs go hand in hand with voluntary benefits."  MORE >>