"This rule amends the [PBGC]'s regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2023. This table is needed to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.... This rule is effective January 1, 2023."  MORE >>

"The ESG Regulations may increase the popularity of ESG funds part of an investment menu, but fiduciaries should consider: [1] ensuring that the investment menu includes non-ESG funds so that participants have a real choice as to whether to invest in an ESG fund; and [2] selecting and monitoring any ESG funds by comparing their risk and return characteristics to non-ESG funds."  MORE >>

"The Final Rules do not include a 'safe harbor' for a fiduciary to treat ESG-themed funds as a separate asset class.... [F]iduciaries of participant-directed plans may consider participant preferences when constructing a plan's investment lineup, but there is no softening of the rule that fiduciaries may not sacrifice return or expose participants to additional risk to accommodate those preferences."  MORE >>

"[T]he final regulation is not perfectly neutral with respect to fiduciaries' ability to consider ESG factors.... We now have a roadmap that largely sustains the DOL's longstanding principles, but also helps fiduciaries to better understand how they might consider ESG factors -- to the extent they desire to do so."  MORE >>

"Limited duration for post-retirement employment will mean up to 24 consecutive months, with potential extensions up to 48 consecutive months, or longer with CalPERS' approval. The 24-month rule will also apply to time served by active employees appointed to upgraded positions or classifications for purposes of reporting 'temporary upgrade pay' to CalPERS."  MORE >>

"[F]or purposes of matching contributions some 401(k) plans provide that a participant's compensation for the entire plan year is taken into account ... while other 401(k) plans take into account a participant's compensation only with respect to payroll periods for which the participant makes elective deferrals.... This post illustrates, through examples, each design, addresses why a plan sponsor might choose one design over the other, and provides some additional thoughts and a reminder for safe harbor design plans."  MORE >>

"Employers must define six major 401(k) features during the plan design process -- eligibility, compensation, contributions, vesting, distributions, and loans. [This article describes] options that would simplify the administration of these features the most."  MORE >>

"Fidelity Investments is plunging deeper into the crypto black hole, but a bright light may be at the end of the tunnel -- a chance to steamroll all other crypto brands and dominate the industry. The $9.9-trillion Boston firm is executing its first Bitcoin retail trades as crypto players large and small disintegrate, Capitol Hill lawmakers decry its participation and tokens plummet in value."  MORE >>

"Many investors expressed worries that because they had already retired, it's too late to do anything to defuse their retirement tax bomb.... [While] shifting retirement contributions from pretax to after-tax Roth, is no longer available to you, the remaining two strategies, asset location and annual Roth conversions, likely are, and could be worth implementing."  MORE >>

"Part of ongoing efforts to improve how the public can do business with the agency, the redesign is intended to provide a clear path to the tasks customers need to accomplish. Many of the most visited sections of SSA.gov are now live with a more user-friendly and task-based approach. New pages and improvements based on public feedback will continue to be unveiled in the coming months."  MORE >>

"It should not have taken the FTX meltdown to make clear the imprudence for 401(k) purposes of crypto as an investment category. But that meltdown should establish for even the most ardent crypto proponents that bitcoin and other similar electronic currencies are too risky and novel to belong in 401(k) investment menus. Crypto, as the senators indicate, should not be marketed to 401(k) trustees and investment committees."  MORE >>

"The sabbatical is a perk that companies of all sizes are increasingly rolling out in an effort to enhance their total rewards program.... Many employers are exploring this idea as a way to keep valued employees or provide a phased route toward retirement.... As employers consider how to design the sabbatical program to best achieve their goals, here are some potential employee benefits landmines to anticipate and avoid."  MORE >>