This table is used to determine liabilities when a single-employer plan terminates in an involuntary or distress termination. It is also used when a multiemployer plan incurs a mass withdrawal. HTML and Excel versions of the 2023 mortality tables are available ... A unisex version of the table is also available ... The unisex version is used in specified situations to determine the benefit transfer amount under the Missing Participants Program  MORE >>

"The most significant change is a proposal to add a new self-correction feature for certain failures to timely transmit participant contributions (and participant loan repayments) to pension plans.... This feature will enable employers and other plan officials to notify EBSA electronically that they have self-corrected certain failures ... The proposed self-correction component can only be used if [certain] conditions are met."  MORE >>

"Late deposits have been the most common failure corrected through the VFC Program ...Similar to a compliance statement under existing VFC Program corrections, compliance with the [self-correction component (SCC)] program will result in protection from civil monetary penalties and civil enforcement actions from the DOL. However, the DOL reserves the right to investigate whether self-correction properly occurred."  MORE >>

"Average annuity purchase rates exceeded 5% for this first time ever observed ... High stock market returns and high interest rates drove pension funding status to improve substantially this past month.... At the close of the third quarter, the Pension Risk Transfer market observed roughly 230 placements in over $45B in premium."  MORE >>

"An evolving small business market, increased regulation, and shifts in client needs all lead to more specialized retirement plan advisement ... As financial planning matures, retirement plan advisers will benefit by either working with a team of specialists, or learning about areas their clients' areas of concern[.]"  MORE >>

"Prior to the SECURE Act's passage, people couldn't contribute to a traditional IRA if they were of RMD age or older ... The delayed age for first-time RMDs and the lifting of the age requirement for traditional IRA contributions are both nods to the fact that Americans are working longer than they once did.... additional traditional IRA contributions after RMD age may make sense in a handful of situations, but not many."  MORE >>

"[V]irtually all American workers age 45 to 62 should wait beyond age 65 to collect. More than 90 percent should wait till age 70. Only 10.2 percent appear to do so. The median loss for this age group in the present value of household lifetime discretionary spending is $182,370. Optimizing would produce a 10.4 percent increase in typical workers' lifetime spending."  MORE >>

"Notable changes to the list include: ... [1] guidance under Section 408(m), relating to 'collectibles' that result in deemed distributions to the IRA owner, [2] a project relating to the 'timing of the use or allocation of forfeitures in qualified plans' ... and [3] a project on the definition of 'church plan' under section 414(e) has reappeared.... In the health care and employment tax areas, there is a new guidance project relating to 'contributions to and benefits paid from paid family and medical leave programs.' And ... a project covering guidance on W-2 reporting for qualified sick and family leave wages."  MORE >>

"New rules regarding compensation recovery apply to exchange-listed companies regardless of size or home country ... Compensation recovery policies do not apply to salaries, compensatory options that vest over time only, discretionary bonuses, milestone compensation based on strategic measures (e.g., acquisition) or operational measures (e.g., projects), or other compensation unrelated to financial reporting measures."  MORE >>