"This document contains a notice of an exemption issued by the [DOL] extending the exemptive relief provided by PTE 2017-05 for an additional four (4) years. This exemption provides that certain entities with specified relationships to Citigroup ... will not be precluded from relying on the exemptive relief provided by Prohibited Transaction Class Exemption 84-14 [the QPAM Exemption], notwithstanding the Conviction during the Exemption Period."  MORE >>

"Available now: Option to designate certain employer contributions as Roth contributions ... If a plan allows this option, the employer Roth contributions must be fully vested.... Starting in 2024: [1] Student loan payments as eligible for employer matching contributions ... [2] Emergency savings accounts."  MORE >>

"While the bill's most significant provisions aim to greatly expand access to retirement programs to those who currently lack it, there are a number of provisions that affect current defined benefit (DB) sponsors and participants -- including corrections, streamlining of current rules, and expansion of measures seeking to protect and inform participants."  MORE >>

"The Colorado Department of the Treasury on Jan. 18 announced that the Colorado SecureSavings Program is open for businesses to register with it. The Centennial State's state-sponsored retirement savings program ... is intended to provide retirement plan coverage for the up to one million private-sector employees in Colorado who lack access to one through their employers."  MORE >>

"Passive mutual funds' popularity is growing among investors, but defined contribution retirement plans will help actively managed funds maintain their dominance over the next five years[.]"  MORE >>

43 pages, rev. Jan. 2023. "The purpose of this practice note is to provide background and ideas about how a pension actuary might comply with ASOP No. 56, Modeling, as well as to help with the evolution of ideas in this area."  MORE >>

"The increases in interest rates throughout 2022 improved pensions' funded status and provided attractive yields for sponsors wanting to de-risk by increasing their allocation to fixed-income assets, ... MetLife Investment Management (MIM) ... estimates that, as of November 7, 2022, the average U.S. corporate pension's funded status was at 106.3 percent -- the highest in 10 years. The quarter-end average was 104.7 percent, which is 4 percentage points above the end of the second quarter."  MORE >>

"Instead of imposing a flat dollar amount, there are numerous limits that could broaden which plan sponsors may be able to use the [self-correction component (SCC)] while still protecting participants.... There also is a question of what the applicable correction period is.... The required reporting may discourage plan sponsors from using the SCC or they may correct the delinquent contributions and loan payments but not report it."  MORE >>

"Victims of severe storms, straight-line winds, and tornadoes beginning January 12, 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 storms, straight-line winds, and tornadoes that reside or have a business in Autauga and Dallas counties qualify for tax relief."  MORE >>