"Most sponsors prefer to self-correct because the VCP filing can be time-consuming and costly ... Three provisions in [SECURE 2.0] provide employers with some relief for fixing retirement plan mistakes. [1] Expansion of EPCRS: eligible inadvertent failures.... [2] Retroactive amendments increasing benefits.... [3] Safe harbor corrections for employee elective deferral failures."  MORE >>

"Recent federal court decisions suggest ... that courts are becoming more skeptical of claims against plan fiduciaries. These new cases apply a more common sense analysis of plaintiff claims and offer hope that the tide of cases resulting in fiduciary liability may be receding."  MORE >>

"[T]wenty-five states, plus a publicly traded energy company with a subsidiary that is a fiduciary and trustee under ERISA, a trade association for the oil and gas industry, and a participant in an ERISA plan sued the [DOL] ... in connection with DOL's recent ESG rulemaking.... The suit ... alleges that the Rule conflicts with ERISA ... because it 'contravenes ERISA's clear command that fiduciaries act with the sole motive of promoting…financial interests' by permitting reference to ESG considerations." [Utah v. Walsh, No. 223-00016, (N.D. Tex. complaint filed Jan. 26, 2023)]  MORE >>

"[Lisa Gomez, DOL's Assistant Secretary for EBSA,] explained that this rule is 'not a per se requirement' to use ESG and clarifies that ESG factors may be considered as part of a fiduciary's ordinary risk-return analysis. She also explained that this new rule does not allow fiduciaries to sacrifice the financial health of a plan to pursue other goals ... Gomez dubbed the rule 'a return to neutrality.' "  MORE >>

"This article will [1] Describe the steps to a backdoor Roth and explain how it can be used as an estate planning tool. [2] Explain why a Roth conversion might make sense if you think your tax rate may be higher in retirement. [3] Flag potential downsides if you plan for relocate, donate to charity, and leave a legacy to your heirs."  MORE >>

"Discount rates fell during the month of January, with the FTSE Pension Liability Index down about 0.33%. Equity markets were up 7-8% for the month showing a strong start to the year. Liabilities increased with falling discount rates but were offset with strong returns. Funded status was likely little changed for many plans and improved for those that have a significant weighting towards equities."  MORE >>

"The WTW Pension Index decreased in January 2023. This month's change was a result of an increase in liabilities due to a decrease in discount rates which was partially offset by strong investment returns. As a result, the January 31, 2023 index level of 100.0 reflects a decrease of 1.3% for the month."  MORE >>

35 pages. "The EA-1 examination ... covers the mathematics of compound interest and practical financial analysis and the mathematics of life contingencies and practical demographic analysis. The pension (EA-2) examination consists of two segments: The EA-2 (Segment L) law examination ... covers relevant pension laws ... as they affect pension actuarial practice.... The EA-2 (Segment F) examination ... covers the selection of actuarial assumptions and calculation of minimum required and maximum tax-deductible contributions under current pension law, along with the related actuarial mathematics." [Issued Jan. 2023 for May 2023 and Nov. 2023 exams. Rev. Jan. 24, 2023]  MORE >>

"There is actually a way to approach employee benefits complexities as a net-positive solution instead of a compliance chore. As we head into 2023, you can create some interesting enhancements to your value proposition and separate your organization from the pack by implementing a few simple changes."  MORE >>