"it's not 'game over' if you fail one of these compliance tests. Yes, it will create a bit of administration headache and could cause some penalties but in the end they will not disqualify your plan as long as they are taken care of in a timely manner."  MORE >>

"The 2020 guidance [in PTE 2020-02] notes that the analysis under [ERISA's advice fiduciary language] and the 1975 regulations may take into account the nature of the relationship after assets have been rolled out of the plan and into an IRA.… [T]he Court finds that the better reading of the statute and regulations takes into account only advice given while the assets are, in fact, plan assets when deciding whether TIAA rendered 'investment advice' on a 'regular basis.' " [Carfora v. Teachers Insurance and Annuity Association of America, and TIAA-CREF Individual & Institutional Services, LLC, No. 21-8384 (S.D.N.Y. Sep. 27, 2022)]  MORE >>

"[This article discusses] plaintiffs' claim that plan fiduciaries failed to prudently monitor fees under the plan's advice arrangement with Financial Engines and (subsequently) Alight Financial Advisors. This is one of the few decisions we've had on the substance of this issue and includes some significant guidance for 401(k) plan sponsors that include in their plan an advice service for plan participants." [Pizarro v. The Home Depot Inc., No. 18-1566 (N.D. Ga. Sep. 30, 2022)]  MORE >>

"Delaware is joining a growing list of states that require employers to automatically enroll their workers in a state-sponsored retirement savings plan, unless the employer already provides retirement benefits. The state is taking steps to implement the new law ... Covered employees can begin to participate and make contributions on Jan. 1, 2025."  MORE >>

"When comparing ESOP benefit levels there is variance across all ESOP companies and even within the same ESOP company from year to year. This article is intended to highlight the key factors that contribute to benefit levels and provide reasoning for the variance."  MORE >>

"When SCOTUS vacates a decision of a lower court, in effect telling them 'you made a mistake,' who pays for the lower court's mistake? [That includes not only] the party before SCOTUS, but other plans that may have relied on the lower court's 'mistake.' ... The same question applies to the plan provider who initially recommended the imprudent investments that the plan adviser ultimately chose for the plan.... The importance of the fiduciary disclaimer clause preventing recourse by the plan against the plan adviser's negligent or fraudulent actions cannot be overstated."  MORE >>

"The underlying causes of pension fund mismanagement are many, but lack of transparency is the almost always the root of the problem.... If pension plans and all their investments were fully transparent and open to public scrutiny, then fraud would be far more difficult to conceal. In contrast to public pensions ... the world's first cryptocurrency -- bitcoin -- operates on a fully transparent platform called a 'blockchain' that is proven to be resistant to fraud and hacking by design."  MORE >>

"Understanding what your benefits are worth could renew your commitment to your current job -- or make you realize it's time to seek out a better deal. If you're thinking of becoming self-employed, you can better understand how much more you'll need to earn to replace your current benefits.... Here are some of the most common benefits, along with typical employer contribution amounts[.]"  MORE >>