"This letter responds to your request ... for information regarding the bonding requirements under [ERISA] applicable to a pooled employer plan (PEP).... [T]he pooled plan provider would be required to ensure that an independent contractor administrator or manager who handles plan funds or other property is properly bonded, which could include being covered by the bond of the PEP or by a separate bond obtained by the independent contractor administrator or manager that names the plan as an insured and meets the other requirements for bonds under ERISA section 412."  MORE >>

"The related employer determination is likely one of the most challenging issues when it comes to retirement plan compliance ... What is a related employer? ... What is a controlled group? ... What is an affiliated service group? ... Why is knowing if another entity is a related employer so important? ... What happens if we were a related employer but now, we are not? ... How do plan documents and adoption agreements typically address related entities?"  MORE >>

"We now have legislative language for the Enhancing American Retirement Now (EARN) Act -- and a quick review finds a change from the concept draft regarding catch-up contributions."  MORE >>

"Fiduciaries that do choose to consider ESG factors as part of their process ... should be prepared to provide comprehensive documentation demonstrating that they have conducted a review that concludes the inclusion of ESG factors is material to an investment's risk and return profile."  MORE >>

"The WTW Pension Index declined slightly in August 2022, remaining at a level comparable to last month's, and well above June's. This month's change was due to negative investment returns, almost completely offset by decreases in liabilities. The end-of-August index level of 96.9 reflects a decrease of 0.1% for the month."  MORE >>

"During August, the Milliman 100 PFI funded ratio climbed from 104.8% on July 31, 2022, to 106.4% as of August 31. The funded ratio improvement was driven by a 36-basis point increase in the monthly discount rate. The PFI projected benefit obligation (PBO) lessened by $65 billion as discount rates rose from 4.25% to 4.61% for the month. Meanwhile the market value of assets fell by $46 billion because of August's 2.47% investment loss."  MORE >>

"[1] Your plan lacks clarity ... [2] You need a 401(k) refresher ... [3] You're falling short on other money goals ... [4] Putting it all together: strive for balance."  MORE >>

"Victims of Arizona severe storms occurring between July 17 and July 18, 2022, now have until November 15, 2022, to file various individual and business tax returns and make tax payments ... Individuals and households affected by severe storms that reside or have a business in the Salt River Pima-Maricopa Indian Community qualify for tax relief."  MORE >>

"[1] Genuine, specific recognition of good work ... [2] Greater job autonomy ... [3] Customized employee benefits ... [4] Profit-sharing plans and other incentive pay ... [5] Nonqualified deferred compensation and other key employee benefits ... [6] ESOP."  MORE >>