29 pages; Nov. 2, 2022. "What's New: ... Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments ... was redesigned for 2022. The new Form W-4P is now used only to request withholding on periodic pension or annuity payments.... Additional withholding on nonperiodic payments and eligible rollover distributions is now requested on Form W-4R, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions. Although the redesigned Form W-4P and new Form W-4R were available for use in 2022, the IRS postponed the requirement to begin using the new forms until January 1, 2023. The 2023 Forms W-4P and W-4R must be in use on January 1, 2023, or 30 days after the final forms are published on IRS.gov, whichever is later."  MORE >>

"PBGC is proposing modifications to the 2023 Schedule R (Retirement Plan Information) and to the 2023 Schedule SB (Single-Employer Defined Benefit Plan Actuarial Information), and to their related instructions, as described [in this notice]."  MORE >>

"Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver's credit)."  MORE >>

"The ForUsAll argument is that the [DOL has] said in their motion to dismiss the suit ... that the compliance assistance release has no legal binding effect, and that it creates no fiduciary review obligations beyond what was already in existence for cryptocurrency as an investment. To agree to a dismissal of the suit ... [ForUsAll wants] the court to first make that 'official'[.]" [ForUsAll v. DOL, No. 22-1551 (D.D.C. reply to defendant's motion to dismiss filed Sep. 12, 2022)]  MORE >>

"[At] least two U.S. Courts of Appeals are skeptical over attempts of purported putative class members to intervene and challenge some aspect of the class counsel's representation."  MORE >>

"Investment in the asset class is up 7.4% this year, an index shows, but few DC plan sponsors are offering it to participants ... The managers of the index ... say it's difficult to compare this growth to the markets as private investments often lag stock and bond movement. Overall, however, these funds are less subject to market volatility and short-term trends, unlike even publicly-traded real estate investment trusts"  MORE >>

"Few retirement plan sponsors conduct frequent reviews of their TDFs. A TDF that was appropriate four years ago may not be competitive anymore. Fees have dropped significantly, and ERISA requires plan sponsors to only pay reasonable fees. A product that was cheap three years ago may now be considered expensive."  MORE >>

27 pages. "[M]erely prompting people to think about financial decisions changes their perceptions regarding subjective survival probabilities.... [T]his information also boosts respondents' interest in saving and demand for longevity insurance. In particular, longevity information influences both subjective survival probabilities and financial decisions, while life expectancy information influences only annuity choices."  MORE >>

"The Hy-Vee decision is a classic example of result-oriented jurisprudence that continues to plague excessive fee decisions notwithstanding some recent appellate success.... Winning or losing appears more to do with what judge you draw or in what appellate circuit court the case is filed, and not based on whether your fees are actually excessive, or even whether the complaint has accurately depicted plan fees. The judicial results fail to provide a consistent or coherent set of rules that plan sponsors deserve in managing retirement plans." [Rodriguez v. Hy-Vee, Inc., No. 22-0072 (S.D. Iowa Oct. 21, 2022)]  MORE >>

"[T]he 214th open meeting of the [ERISA Advisory Council] will be held on December 8-9, 2022 ... [in] Washington, DC. The meeting will also be accessible via teleconference and some participants, as well as members of the public, may elect to attend virtually.... The purpose of the open meeting is for the members of the ERISA Advisory Council to finalize their observations and recommendations on the issues they studied in 2022, present their observations and recommendations to the [DOL], and receive an update from leadership of [EBSA]."  MORE >>

"Many employees who moved on to another job are having second thoughts about their decision -- a new phenomenon that is being referred to as the 'Great Regret.'... The current employee-driven jobs market ... presents an opportunity for plan sponsors to strengthen their benefits offerings and improve participant communications to become an employer of choice for job seekers."  MORE >>

"What are the new rules? ... What type of compensation is covered? ... What is a financial reporting measure? ... Which executives and what periods are covered? ... What must be recovered? ... How is it recovered? ... What types of restatements are covered? ... What must be disclosed? ... When to comply? ... How do the new rules compare to existing clawback requirements and proxy advisor guidance? [Side-by-side chart.] ... What should a compensation clawback policy look like? [Sample policy provided.]"  MORE >>

"[C]ompanies should consider taking the following steps to prepare: [1] Determine how they might integrate their existing clawbacks, especially those focused on misdeeds, with the 'no-fault' concept under Dodd-Frank.... [2] For companies with existing clawback policies, decide whether to integrate the Rule 10D-1 clawback policy with their existing policies, replace their existing policies or adopt the Rule 10D-1 policy on a stand-alone basis.... [3] Inventory existing incentive compensation arrangements  ... [4] Create a process for determining if a Dodd-Frank clawback provision has been triggered[.]"  MORE >>