"Under the interim rule, the entire amount of SFA was included as a plan asset for all recipients. The final rule changes this by including a 'phase-in' approach for certain SFA recipients. These calculations can be complex[.]"  MORE >>

"While the final regulations are a step in the right direction, they may still leave many plans receiving assistance insolvent by 2052. Plans that suspended benefits under the Multiemployer Pension Reform Act of 2014 (MPRA) will be able to restore suspended benefits and remain solvent."  MORE >>

"The Final Rule contains a number of significant developments and amendments from the interim final rule, including for example, expanding investment options for SFA assets, providing for separate interest rate assumptions for SFA versus non-SFA assets, loosening restrictions for benefit increases, and adding a new condition for phased recognition of SFA assets in calculating withdrawal liability. The Final Rule becomes effective on August 8, 2022."  MORE >>

"The new proposed regulations ... allow certain MEPs and PEPs to preserve their tax-qualified status despite the noncompliance of one or more participating 'bad-apple' employers.... To qualify for this exception, the plan administrator must send notices to the noncompliant participating employer (and, if applicable, the participants of the participating employer and the [DOL])."  MORE >>

"[M]ost insurance companies have decided that they will not use PTE 2020-02 for relief for themselves and their agents ... But, when agents make rollover recommendations covered by the DOL's expanded fiduciary interpretation, they will engage in prohibited transactions ... The alternative to 2020-02 is PTE 84-24. However, PTE 84-24 has conditions that agents must satisfy, and ... many agents do not know that they can be fiduciaries and do not know about the relief provided by 84-24."  MORE >>

"[IRS Notice 2022-31] updates (but doesn't revoke) Notice 2020-60 to reflect [ARPA] ... [S]ome previously ineligible sponsors can now elect the relief, while some sponsors already relying on the relief are now ineligible. Revised election content requirements also may mean some sponsors that made elections on or after March 11, 2021, will need to prepare new elections."  MORE >>

"[T]here are millions of participants whose accounts have been subject to a company merger, a change of recordkeeper, or both. These events can easily contribute to participants losing track of their balances ... The most-effective long-term strategy for reducing the incidence of missing participants is facilitating retirement savings portability."  MORE >>

"According to [JPMorgan's Guide to Retirement], the best way to mitigate such wide-ranging challenges is to develop a comprehensive retirement plan and to focus on what can be controlled. This includes maximizing savings as early as possible, understanding and managing spending and being well-diversified from an investment and tax perspective."  MORE >>

"Employee contributions and vested employer contributions (along with applicable earnings on those vested employer contributions), count toward the General 457 Annual Contribution Limit in effect in the taxable year that contributions are vested. This requirement can result in excess contributions in the year vested and can be administratively cumbersome.... An eligible participant seeking to contribute under the Special 457 Catch-up must make a written election ... Determining under contributed amounts in prior years requires a year-by-year analysis."  MORE >>

250 pages. "This report considers pension benefit dollars as a percentage of both GDP and total personal income at the county level, as well as categorizing counties as metropolitan, small town, or rural.... Public pension benefit dollars represent between one and three percent of GDP on average in the 2,922 counties studied. Rural counties have the highest percentages of their populations receiving public pension benefits."  MORE >>

"A recent LIMRA and EY joint study ... predicts nonmedical and nontraditional workplace benefits will grow 20% by 2026 due to heightened competition for workers and greater employee expectations.... Six in 10 employers believe employees will have greater influence over their company's benefit decisions in the next five years. According to the research, three-quarters of employers plan to modify their benefits packages in response to shifting employee demographics."  MORE >>