"Complete Form W-4R to have payers withhold the correct amount of federal income tax from your nonperiodic payment or eligible rollover distribution from an employer retirement plan, annuity (including a commercial annuity), or individual retirement arrangement (IRA)."  MORE >>

"Complete Form W-4P to have payers withhold the correct amount of federal income tax from your periodic pension, annuity (including commercial annuities), profit-sharing and stock bonus plan, or IRA payments."  MORE >>

"Effective immediately, employers can permit participants ... to elect that matching or non-elective contributions are made as Roth (after-tax) contributions.... Roth matching or non-elective contributions will, of course, result in taxable income to the participant, including a tax withholding requirement. Employers will need to work out how to satisfy this tax withholding from other compensation paid to the employee or through other means[.]"  MORE >>

" 'New' 401(k) and 403(b) plans must be automatically enrolled, with automatic deferral increases, no later than the plan year beginning after December 31, 2024 (e.g., 2025 for calendar year plans). Any plan 'established' on or after December 29, 2022 is considered a new plan. Defaulting participants must be invested in a QDIA. There are exceptions for government plans, church plans, SIMPLE 401(k) plans, employers with 10 or fewer employees, and employers during their first 3 years of existence."  MORE >>

"The justices, without comment, left standing a [Sixth Circuit ruling] saying that an ERISA lawsuit filed by two former employees in a company 401(k) plan wasn't subject to arbitration. The appeals court ... said compelling arbitration for an ERISA dispute was allowable if an arbitration provision was part of a retirement plan document, but that arbitration provisions in individual employee contracts ... didn't extend to ERISA." [Hawkins v. Cintas Corp., No. 21-3156 (6th Cir. Apr. 27, 2022; cert. denied Jan. 9, 2023)]  MORE >>

"The risk environment for fiduciaries of America's employee benefit plans continues to heighten, as creative and enterprising plaintiff lawyers discover new ways to engineer fiduciary risk for plan fiduciaries in America's judicial system. This past year, politicians and regulators have added further uncertainty and risk for plan fiduciaries. [This article provides] a summary of the key fiduciary liability stories from the past year, and the implications for what might lie ahead in 2023 and beyond."  MORE >>

"This article provides reporting and disclosure requirements under ongoing calendar-year qualified plans in the United States."  MORE >>

"Tracking how similar age cohorts in different generations have made their decisions can allow 401k plan fiduciaries a window through which they can see how the mind operates. Since you know the best time to save for retirement occurs when you first start working, perhaps it's a good idea to look at the investing habits of people in their twenties."  MORE >>

"This report summarizes the findings of our annual survey that captures changes employers intend to make to their retirement and financial wellbeing plans in the year ahead.... This year's report includes insights on several new topics, including: [1] Reactions to investing in a high-inflation environment; [2] Thoughts on digital assets and ESG in defined contribution plans; [3] Perspectives on employers' DE&I initiatives."  MORE >>

32 pages. "[R]etiree spending of public and private sector pension benefits in 2020 generated $1.3 trillion in total economic output, supporting nearly 6.8 million jobs across the nation. Pension spending also added nearly $157.7 billion to government coffers at the federal, state, and local levels. A map with downloadable state fact sheets regarding the economic impact of state and local pension plans is available here."  MORE >>

"The funded status of corporate pension plans experienced a 12.1% boost in 2022 despite investment returns for the year of -13.53%. Increasing discount rates and the corresponding liability ... decrease of 22.57% more than offset the asset losses[.]"  MORE >>

"Many investment strategies are quite complex and depend on an investment manager fully understanding the short-term and long-term needs and objectives of the plan. This understanding is often built up over years. It is very disruptive and harmful to be forced to give up this excellent relationship and engage in a lengthy and expensive search for a new investment manager with little or no history with the plan.... By disqualifying a QPAM in cases where such treatment is not warranted, the proposal would be harming the plan and its participants."  MORE >>

"America has a retirement crisis, and SECURE 2.0 takes some important steps to address it.... These are important, but they are not enough. At least three additional changes should be part of SECURE 3.0."  MORE >>

"Victims of severe winter storms, flooding, and mudslides in California beginning January 8, 2023, now have until May 15, 2023, to file various individual and business tax returns and make tax payments ... [I]ndividuals and households affected by severe winter storms, flooding, and mudslides that reside or have a business in Colusa, El Dorado, Glenn, Humboldt, Los Angeles, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Bernardino, San Diego, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Ventura, Yolo, and Yuba counties qualify for tax relief."  MORE >>

"This article provides a listing of 2023 statutory limits for pension and health and welfare plans in the United States.... These limits potentially impact design, administration, communication and tax reporting for the related benefit plans."  MORE >>