"The latest ForUsAll request had seen the retirement plan provider offer to drop the lawsuit, as long as the court confirmed the DOL's initial guidance would not be enforced.... On [November 15], the DOL shot back in its response, saying ForUsAll misrepresented the guidance to fit its own purposes ... The department noted that the court, in this case, should not dictate guidance or regulation going forward." [ForUsAll v. DOL, No. 22-1551 (D.D.C. DOL reply brief filed Nov. 14, 2022)]  MORE >>

"Janet Amara filed this action more than 20 years ago, in 2001, and it has survived through two district court judges, three appeals to the Second Circuit, and one appeal to the Supreme Court. Is it finally over?" [Amara v. Cigna Corp., No. 20-202 (2d Cir. Nov. 10, 2022)]  MORE >>

"In this case, the employer's adherence to plan documents and its proactive approach in informing the employee of the deficiencies in her change-of-beneficiary form insulated it from liability. The employer recognized that the terms of the plan didn't give the administrator discretion to accept beneficiary designations that failed to comply with the form's instructions and acted accordingly in distributing plan benefits." [Gelschus v. Hogen, No. 21-3453 (8th Cir. Aug. 29, 2022)]  MORE >>

"The plaintiff alleges plan fiduciaries breached their duties under ERISA by using the MassMutual Group Annuity Contract to offer investment options to participants. The plaintiff's excessive fee claims are centered on the Group Annuity Contract, an annuity that guarantees a fixed rate of return for participants." [Lalonde v. Massachusetts Mutual Life Ins. Co., No. 22-30147 (D. Mass. complaint filed Nov. 9, 2022)]  MORE >>

"The Multiemployer Program had a positive net position of $1.1 billion at the end of FY 2022, compared to $481 million at the end of FY 2021, an improvement of $577 million. PBGC's Single-Employer Program remains financially healthy with a positive net position of $36.6 billion at the end of FY 2022, compared to $30.9 billion at the end of FY 2021, an improvement of $5.7 billion."  MORE >>

20 pages. "There is an increased focus on savings adequacy to close a widening savings gap, particularly among women and underrepresented communities. Financial wellness is becoming more holistic. A broader view of retirement, wealth, and health needs illuminates the road from working years into retirement. Volatile markets create complex challenges for those investing for, and spending in, retirement. Professionally managed portfolios can help navigate uncertainty."  MORE >>

"What actions should plan administrators consider as best practices in connection with 401(k) beneficiary designations? ... What should 401(k) plan SPDs say about beneficiary designations? ... What actions should be taken in connection with beneficiary designation document retention? ... What specific actions should a plan administrator take annually?'

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"The rapid collapse of FTX, one of the world's biggest cryptocurrency exchanges, which filed for bankruptcy on Nov. 11, underlines the risks of putting retirement funds into speculative investments -- especially those offered by lightly regulated firms."  MORE >>

"At a basic level, the financial status of Social Security is simply the relationship among revenues, expenses, and the holdings in the Social Security trust funds. This report focuses on the trust funds and interest income, a decreasing source of income for the program." [IF12248 Nov. 15, 2022]  MORE >>

"LGBTQ workers were less likely than non-LGBTQ workers to be satisfied with their employee benefits overall and with paid leave.... LGBTQ workers were less likely than non-LGBTQ workers to be satisfied with the mix of retirement contributions and wages and more likely than non-LGBTQ workers to prefer higher wages and lower retirement contributions. In contrast, LGBTQ workers were more likely than non-LGBTQ workers to prefer higher mental health benefits and lower wages, whereas non-LGBTQ workers were more likely than LGBTQ workers to prefer fewer mental health benefits and lower wages."  MORE >>