"The suit ... involved two plans sponsored by the University of Southern California ... The plans' investments options were offered by four separate recordkeepers ... With the exception of approximately 14 investment options, all investments were proprietary investments of these four recordkeepers.... [T]he cash aspect of the settlement is $13,050,000 which, once certain fees and expenses are deducted, will be allocated to participant (including eligible former participant) accounts." [Munro v. Univ. of Southern Calif., No.16-6191 (C.D.Calif. settlement agreement filed Feb. 23, 2023)]  MORE >>

"[The judge] also ruled against the defendants' motion to dismiss the allegations that the plan improperly used higher-cost share classes of funds when lower-fee, identical investments were available for the plans." [Brown v. The Mitre Corp., No. 22-10976 (D. Mass. Mar. 6, 2023)]  MORE >>

"[In] the final rules' preamble, the agencies noted that they deferred implementation of other provisions outlined in a September 2021 proposal, including one to revise the content requirements for the 'Schedule of Assets Held for Investment' and the 'Schedule of Assets Held and Disposed of within the Plan Year' sections of Form 5500's Schedule H."  MORE >>

"[If] the expense relates to a required administration duty, then the expense is probably fiduciary and may be chargeable to the plan. In contrast, if the expense relates to plan design or a plan sponsor decision, or anything else that is not required but relates to a plan sponsor decision and is for the benefit of the plan sponsor, then the fiduciary probably should not charge it to the plan."  MORE >>

22 pages. "[W]hile older adults generally have accurate expectations about their claiming age, they underestimate their annual Social Security income by approximately $1,896 (11.5 percent) on average. However, both accuracy and precision increase with age, and the forecast error for people in their early 60s is not statistically different from zero."  MORE >>

"The years preceding and following the moment you retire can dictate not only the quality of your golden years but also the likelihood you'll have enough to last throughout retirement.... [H]ere are some key risks -- and potential solutions -- to be mindful of as you navigate the so-called dangerous decade."  MORE >>

"If assumptions, future income streams and future expense streams inputted into the AFP are exactly realized in the future and household spending exactly follows the AFP spending budget each year, your current household assets are expected to be sufficient to cover X% [Funded Status] of your projected spending liabilities in retirement.... If your Funded Status falls below 95% now or in the future, you should consider reducing your spending budget (or increasing your assets) ... If your Funded Status is or becomes more than 120%, you may consider increasing your spending budget. "  MORE >>

"The ARA and the other signatories note that plans have been using the relief from the physical presence requirements for nearly three years, and that systems are now in place to allow participants or spouses to use either in-person or remote witnessing."  MORE >>