"[T]he DOL significantly softened the regulatory text on ESG without removing references to ESG altogether. It eliminated ... the attempt to define certain ESG factors in favor of three principles outlining what it considers to be relevant to a fiduciary's duty of prudence ... These new principles appear to offer significant deference to a fiduciary's own determinations of what is important to an investment decision[.]"  MORE >>

"[T]he 2022 Rule generally relies on obligations inherent in ERISA's core duties of loyalty and prudence rather than mandating special considerations or documentation when ESG factors play a role."  MORE >>

"The question is whether a state-law claim necessarily raises a federal issue which a federal forum may entertain without disturbing any congressionally approved balance of federal and state judicial responsibilities. Plaintiffs sought relief under the DST Arbitration Agreement, which is part of their employment contracts that specifically excludes claims for 'ERISA-related benefits.' The court found that this is not state contract law that relates to DST's ERISA Plan." [Hursh v. DST Sys., Inc., Nos. 21-3554+ (8th Cir. Nov. 28, 2022)]  MORE >>

"The complaint ... focuses on Sprint's alleged 'failure to pay joint and survivor annuity benefits under the Sprint Retirement Pension Plan in amounts that satisfy the actuarial equivalence requirements in [ERISA].' " [McFadden v. Sprint Communications, LLC, No. 22-2464 (D. Kans. complaint filed Nov. 11, 2022)]  MORE >>

" '[A]ccumulating decumulation' rights is very much different than merely accumulating investment assets under a plan. In order to benefit from the value of these enhancements, participants and fiduciaries must be comfortable with accepting some restrictions on accessing plan funds. This is so very opposite to the mutual fund, daily trading world to which participants have become accustomed."  MORE >>

"The sudden collapse of global cryptocurrency exchange FTX has accelerated the yearlong downturn in bitcoin and other digital assets while igniting fresh concerns over the loosely regulated nature of the crypto industry. But several public pension fund managers with modest crypto-related investments said they see no reason to give up on the sector."  MORE >>

"Stable value has faced several challenging markets over the years and weathered the economic crisis following the coronavirus pandemic and the recent increased market volatility ... The wrap landscape ... [S]table value products are offering more flexibility, and their usage has increased and expanded beyond their traditional role in defined contribution retirement plans."  MORE >>

"[It] can be a valuable exercise for plan sponsors to take a step back and carefully evaluate the target date solutions in their plans to ensure they still are aligned with the plan's objectives, the investment committee's beliefs and preferences, the characteristics of the participant population, and the needs of the covered workforce."  MORE >>

"The analysis looks at allocations by plan size, status and funding. It also examines the link between risk reduction and allocations, and tracks trends over time."  MORE >>

"[W]tihout guidance to the contrary ... Pooled Employer Plan auditors are including each adopting employer ... as part of their audit review ... A broad overreaching annual plan audit requirement of this type for a Pooled Employer Plan would have a chilling effect on one of the key advantages associated with an employer opting to join a Pooled Employer Plan.... Reviewing every single adopter is excessive[.]"  MORE >>

"[T]he complexity reinforces and in many ways increases the inequities built into the system, by making it harder for smaller employers to provide retirement benefits and for employees, across the board and regardless of the size of their employer, to access and make use of them.... It is simply too complex an area for small employers, who are not trying to do anything fancy but instead simply trying to provide industry standard defined contribution plans for their employees."  MORE >>

"The most important thing to know about a qualified HSA funding distribution is that it is a once-in-a-lifetime opportunity for each HSA account holder. The second most important thing to know is that the maximum amount of the rollover is limited to the amount of that year's HSA contribution limit."  MORE >>