"Plan sponsors and fiduciaries ... should understand that this new rule does not permit them to elevate ESG considerations over a fund's financial risk and return when evaluating whether to include or retain an investment option in a plan's investment lineup. Fiduciaries must continue to ensure that any investment option offered or retained in a plan's investment lineup is fundamentally sound from a financial perspective, fits the plan's investment strategy, and that no superior alternatives are available."  MORE >>

27 pages. "The number of computation years is one factor that affects the Social Security monthly benefit amount. This report describes the current-law computation years and the legislative background for the provision. It also discusses the estimated work year distributions for workers in the current retiring cohorts and younger cohorts. The report concludes with a discussion of policy options that would change the number of computation years, including an analysis of effects on beneficiaries, related costs to the Social Security program, and a discussion of policy considerations." [R47330 Dec. 12, 2022]  MORE >>

"[1] Review compliance procedures ... [2] Evaluate plan features ... [3] Perform analysis of service providers ... [4] Consider implementing new technology ... [5] Strengthen cybersecurity standards."  MORE >>

"[PSCA's] 65th Annual Survey of 401(k) and Profit Sharing Plans found record high rates or retirement savings alongside innovative plan designs.... 89.2 percent of eligible employees made contributions to the plan in 2021 (up from 88.5 percent in 2020) with an average deferral rate of 8.3 percent of pay (up from 8.0 percent in 2020).... Just 1.9 percent of participants took a hardship withdrawal in 2021 (down from 2.6 percent in 2020 and 18 percent borrowing against their account balances (down from 23.6 percent in 2020)."  MORE >>

"[PBGC] has approved the supplemented application submitted ... by the Road Carriers Local 707 Pension Plan. The plan, based in Hempstead, New York, covers 3,804 participants in the transportation industry.... The Road Carriers Local 707 Plan will receive approximately $114.1 million in supplemented SFA, which is in addition to $726.6 million in SFA approved for the plan by PBGC in January 2022 under the interim final rule."  MORE >>

"[PBGC] has approved the supplemented application submitted ... by the Local 805 Pension and Retirement Plan. The plan, based in New York City, New York, covers 2,003 participants in the transportation industry.... The Local 805 Plan will receive approximately $40.4 million in supplemented SFA, which is in addition to $118.3 million in SFA approved for the plan by PBGC in May 2022 under the interim final rule."  MORE >>

"[PBGC] has approved the supplemented application submitted ... by the Local 138 Pension Plan. The plan, based in Baldwin, New York, covers 1,723 participants in the transportation industry.... The Local 138 Plan will receive approximately $9.5 million in supplemented SFA, which is in addition to $112.6 million in SFA approved for the plan by PBGC in December 2021 under the interim final rule."  MORE >>

"EBSA closed 1,072 civil investigations with 741 of those cases (69%) resulting in monetary results for plans or other corrective action.... EBSA's enforcement program helped 16,024 terminated vested participants in defined benefit plans collect benefits of $1.548 billion owed to them.... EBSA opened 188 criminal investigations and closed 208 criminal investigations. 118 of the 188 criminal cases opened during FY2021 involved health benefit plans."  MORE >>