"The rule makes a few notable changes to last year's interim final rule (IFR), but otherwise leaves the SFA program mostly intact. The final rule takes effect Aug. 8, but won't apply to any plan that has already received SFA unless the plan files a supplemented application under the final rule. This article reviews the final rule's provisions of most interest to employers."  MORE >>

"With interest rates rising, some employers might be considering terminating their defined benefit plans to take advantage of reduced plan termination liabilities. However, these sponsors may run the risk of creating trapped surplus, which could result in a reversion subject to a steep excise tax. One potential solution ... is to transfer any DB surplus assets to a qualified replacement plan (QRP)."  MORE >>

"The observations in this report reflect data at or near the end of 2021.... Government bond yields rose for 41 of the 43 countries covered.... The year-on-year changes of expected rates of return assumptions vary even within developed countries both in direction and magnitude of change."  MORE >>

"More Americans (37%) spanning generations and demographics feel unprepared or unsure if they are on track for retirement compared to the previous three years ... Those concerns even took hold among those participating in a workplace retirement plan, down from peak levels (68%) during 2021. Among savers who did not have access to a workplace retirement plan, only 51% feel they are on track for retirement."  MORE >>

"Total U.S. annuity sales increased 22% to $77.5 billion in the second quarter ... This marks the highest quarterly sales ever recorded since LIMRA began tracking annuity sales and nearly $9 billion above the previous record set in fourth quarter 2008 during the Great Recession."  MORE >>

"[P]erhaps we need to think of financial wellness programs not just as a way to get individuals to save for retirement, but also in terms of providing the scaffolding needed for long-term financial security. This may look very different from traditional retirement plan education and may include additional benefits geared towards 'teaching them how' to do it themselves."  MORE >>