"Could a participant get matching contributions on elective deferrals and on student loan payments at the same time? ... Could the match based on QSLPs be different from the match on elective deferrals? ... Can QSLP matches be funded on a different cycle from matches on deferrals, for example on a quarterly rather than payroll period basis? ... Does an employer need to amend their plan before starting to make QSLP matches?"  MORE >>

"[T]he employers and union negotiated new CBAs ... which required employers to continue making pension fund contributions but to a different pension fund.... The fund filed suit against the employers ... alleging that the employers breached the trust agreements ... by ceasing contributions without having properly terminated the CBAs.... The court concluded that the November letters expressed a desire to negotiate new contracts, which is not equivalent to expressing a desire to terminate the CBAs." [Cent. States, Se. & Sw. Areas Pension Fund v. Transervice Logistics, Inc., No. 20-3437 (7th Cir. Dec. 22, 2022)]  MORE >>

"Annuity purchases for retirees with small benefit amounts can be an easy and highly effective way to reduce PBGC premiums and save money at no cost to plan participants. For plan sponsors not subject to the PBGC Variable Rate Premium Cap, purchasing annuities for retirees receiving less than $300 monthly will save the plan money. For plan sponsors subject to the cap, purchasing annuities for retirees receiving less than $1,000 monthly will save the plan money."  MORE >>

"More plan sponsors are reporting high turnover in retirement plan committees, losses that industry observers say have sent some plan sponsors scrambling to find new members and get them up to speed on their fiduciary responsibilities. In some cases, the losses have even led to stalled projects and initiatives."  MORE >>

"Average annuity purchase rates dipped this past month- with the average duration 7 annuity purchase rate at 4.31% and average duration 15 annuity purchase rate at 4.28%. The Pension Risk Transfer Market kicked off 2023 with a strong start as plan sponsors continue to take steps toward plan termination at record pace. Strong stock market returns offset the impact of lower interest rates."  MORE >>

"2022 ... saw high inflation, unprecedented losses in fixed income, and a bear market for equities globally.... Amid this challenging environment, the median public defined benefit plan [returns] fell 12.7%.... [T]his was just the sixth negative calendar year the median public plan has experienced during the past 30 years."  MORE >>

"Some households with the ability to save for retirement might have little or no retirement savings beyond Social Security because they do not have access to employer-sponsored pensions and do not save elsewhere (e.g., through IRAs). These households might benefit from policies designed to increase access to, participation in, or contributions to retirement plans."  MORE >>

"[PBGC] has approved the supplemented application ... by the Freight Drivers and Helpers Local Union No. 557 Pension Plan ... The plan, based in Baltimore, Maryland, covers 2,273 participants in the transportation industry.... [It] will receive approximately $12.8 million in supplemented SFA, which is in addition to $192.8 million in SFA approved for the plan in October 2022[.]"  MORE >>

"[PBGC] has approved the supplemented application submitted ... by the Retirement Plan of Local 1482 -- Paint and Allied Products Manufacturers Retirement Fund. The plan, based in the New York Metropolitan Area, covers 152 participants in the manufacturing industry.... [It] will receive approximately $1.8 million in supplemented SFA, which is in addition to $12.9 million in SFA approved for the plan in April 2022[.]"  MORE >>

"[S]tate and municipal pension plans valuation reports issued on or after [Feb. 15] will require an assessment of the plan's portfolio investment risk measured against a low default risk obligation measure, like the returns offered by U.S. Treasuries, among the lowest rates of return in the financial markets, but the most secure.... The new actuarial disclosures ... will give a clear hint of ... the enormous risk of state and municipal pension shortfalls, but will not be so fully transparent as to make them fully obvious to any other than pension experts."  MORE >>

"[The DOL and IRS had ] issued guidance temporarily extending various deadlines applicable to [retirement] plans and to participants until the earlier of [1] one year from the date an individual was first eligible for relief or [2] 60 days after the end of the National Emergency.... Group health plans are affected by the end of both the National Emergency and the Public Health Emergency declarations."  MORE >>