"This final rule: [1] Clarifies that PBGC's disclosable records are generally available in an electronic, rather than paper, format. [2] Describes the procedure to seek expedited treatment for record requests. [3] Clarifies the acceptable methods for submitting record requests. [4] Updates the time limit to respond to record requests. [5] Clarifies the procedures available to a requester when PBGC extends the time to respond to a disclosure request or an appeal. [6] Clarifies the procedure for responding to requests that are of concern to a Federal agency other than PBGC. [7] Updates the fees for search and review time. [8] Modifies the definitions of certain categories of requesters."  MORE >>

"This Alert addresses what's the same under the final rule, what's changed, and transition considerations for multiemployer plans that have already applied to receive SFA funding.... The changes implemented by the Final Rule, including the new rules relating to expanded investment options and the use of the bifurcated investment return assumptions, are available to plan sponsors that have already applied for SFA if they submit a revised or supplemental application."  MORE >>

"[The authors] anticipate that employers will challenge the withdrawal liability provisions of the Final Rule in arbitration or before the courts. In response, the PBGC will likely argue that SFA is meant to preserve plan benefits until 2051, not to subsidize employers, and that Congress gave PBGC an express delegation of rulemaking authority to set conditions on SFA in addition to PBGC's general delegation of rulemaking authority."  MORE >>

"[T]he Court held that [plaintiffs' excessive fee] claims failed because plaintiffs failed to plead that these fees were high relative to the services provided or that the fees could not be justified by the plan's strategic goals.... But the Sixth Circuit reversed as to the share class claim, holding that plaintiffs stated a plausible claim of imprudence related to TriHealth's failure to offer the cheapest share class for certain mutual funds." [Forman v. TriHealth, Inc., No. 21-3977 (6th Cir. Jul. 13, 2022)]  MORE >>

"Don't overreact to inflation and retirement ... Time for portfolio review ... Review the plan line-up and modify it as needed ... Work with providers: plan advisor, recordkeeper."  MORE >>

"[T]ransitions to either full or partial retirement increase during economic contractions.... Flows into retirement were especially high at the start of the COVID-19 pandemic, with an excess flow into retirement of five percent of older workers.... [F]lows into retirement are generally more cyclically sensitive than returns to the labor market, suggesting many excess retirements are permanent."  MORE >>

"[1] Contact your former employer. [2] Review 401(k) plan documents. [3] Find the current location of retirement funds. [4] Search unclaimed property databases. [5] Look for forced transfer IRAs. [6] Take steps to prevent a lost 401(k) plan."  MORE >>

25 pages. "[The Protecting and Preserving Social Security Act (HR 8467, S 4583) includes] five provisions with direct effects on the Social Security trust funds.... [T]hese provisions would extend the ability of the OASDI program to pay scheduled benefits in full and on time for an additional 17 years. That is, the date of projected depletion of the combined OASI and DI Trust Fund reserves would be moved from 2035 under current law to 2052 assuming enactment of the proposal[.]"  MORE >>