"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

"The calendar includes key dates for: [1] Various forms; [2] Annual funding notice; [3] Annual benefit statement notice; [4] Triennial benefit statement; [5] Summary report of multiemployer plan; [6] Required minimum distributions."  MORE >>

"Rev. Proc. 2022-40 provides the first opportunity for 403(b) plan sponsors to get a [determination letter (DL)] ... IRS is also updating the program to incorporate changes for qualified plans made since the program's overhaul in 2016. Some sponsors of individually designed 403(b) plans will be able to apply for DLs as early as June 1, 2023."  MORE >>

"The SecureSavings program requires all employers in Colorado that have been in business for two or more years, have five or more employees, and do not already have a retirement savings plan in place to facilitate the program by providing their employees the opportunity to save for retirement through payroll deductions."  MORE >>

"While the court here cited support from the Second and Seventh Circuits, the decision is potentially at odds with a 2019 Ninth Circuit decision and a recent decision from a district court in the Eleventh Circuit.... [U]nlike prior rulings that refused to enforce arbitration provisions in employment agreements ... here the arbitration provisions in question were in the plan document itself.... [If] this ruling were to be universally accepted, it would call into question the ability of plan sponsors to forestall class action relief through the use of arbitration provisions." [Lloyd v. Argent Trust Co., No. 22-4129 (S.D.N.Y. Dec. 6, 2022)]  MORE >>

"A South Florida police officers and firefighters retirement trust alleges a health apparel company misled its stockholders in violation of federal securities laws.... The plaintiffs allege the defendants' actions led to FIGS's stock declining by nearly 25%. ' [City of Hallandale Beach Police Officers' And Firefighters" Personnel Retirement Trust v. FIGS, Inc., No. 22-8912 (C.D. Cal. complaint filed Dec. 8, 2022)]  MORE >>

"The lack of comprehensive guidance has left plan sponsors unsure of how to fulfill their fiduciary responsibilities at a time when these regulatory agencies are increasing their enforcement focus on missing participant issues.... If the plan document does not list search procedures that must be followed, plan sponsors should develop policies and procedures with respect to missing participants[.]"  MORE >>

"[A] large number of insurance companies have developed two different sets of internal compliance and administrative processes, one which which applies to individual annuities ... and another, separate set of them which applies to group annuities ... For the valuable, well established, elements of the individual annuity retirement income space to successfully 'crossover' into the DC Lifetime Income market, the group annuity 'infrastructure' needs to be exported to the individual product side of things.... [A]ligning these products with new infrastructure is not necessarily a simple task."  MORE >>

"If the gap between the trust funds' outlays and income occurs as CBO projects, then the balance in the trust funds will decline to zero in 2033 and the Social Security Administration will no longer be able to pay full benefits when they are due. Therefore, another set of projections reflects a scenario in which Social Security outlays are limited to what is payable from annual revenues (from payroll taxes and from income taxes on benefits) after the trust funds are exhausted."  MORE >>

"[PBGC] has approved the supplemented application ... by the Graphic Arts Industry Joint Pension Plan. The plan, based in Washington, D.C., covers 9,854 participants in the printing industry.... The Graphic Arts Plan will receive approximately $82.2 million in supplemented SFA, which is in addition to $440 million in SFA approved for the plan by PBGC in April 2022[.]"  MORE >>

"There are ways to begin to create an environment for plan sponsors which can reduce the risk of litigation and encourage more innovation. [1] Judges should have more discretion to assess the merits of a case earlier ... [2] Policymakers and regulators should provide clearer guidance for sponsors ... [3] Sponsors should engage in more frequent review of fund offerings and service providers."  MORE >>

"Seven in 10 S&P 500 companies (69%) reported in this year's proxies that they use at least one ESG metric in their executive incentive plans, an increase from the 60% they reported last year.... [T]wo-thirds of companies (67%) tie their short-term incentive plans to at least one ESG measure, up from the 59% they reported last year, while the number of companies that use at least one ESG measure in their long-term incentive plans rose from 5% to 8%."  MORE >>