"he second quarter 2023 interest assumptions will be 5.38 percent for the first 20 years following the valuation date and 5.09 percent thereafter. In comparison with the interest assumptions in effect for the first quarter of 2023, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), an increase of 0.52 percent in the select rate, and an increase of 0.39 percent in the ultimate rate (the final rate)."  MORE >>

"SECURE Act 2.0 changes the family attribution rules to allow disaggregation of the entities if the only common ownership is the indirect ownership of the entities by a child under the age of 21 due to the attribution of the parents' ownership interests to the child.... [A second change disregards] community property laws when determining ownership for purposes of controlled groups and affiliated service groups."  MORE >>

"SECURE 2.0 ... updated 403(b) plan rules to conform more closely with 401(k) plan rules, and made a number of key changes specific to 457(b) plans (although many of those changes only apply to governmental 457(b) plans). Further, church plans that do not elect to be subject to ERISA were also impacted by a number of the changes made in SECURE 2.0."  MORE >>

"SECURE 2.0 instructs the Department of Treasury to revise its RMD regulations to expand the availability of QLACs ... SECURE 2.0 also revises the RMD rules to permit defined contribution plans to offer [specific] features with respect to an annuity that has already commenced[.]"  MORE >>

"The SECURE Act 2.0 provides significant tax credits for startup plan costs -- for both administration and contribution costs. The credits are fully available for employers with 50 or fewer employees and partially available up to 100 employees. This provision is effective now, that is, it is effective for tax years beginning after December 31, 2022 (in 2023 for calendar year taxpayers)."  MORE >>

"[Silicon Valley Bank (SVB)] had a combined ESOP and 401(k) plan that held about 19% of its assets [in SVB stock] in 2021 ... valued at about $245 million at that time. Several other bank retirement plans were significantly invested in company stock, including Zions Bancorp, which held 23% of its assets in bank stock as of the end of 2021. Its stock fell 36% from March 8 to March 13."  MORE >>

"Working retirees can be a pushmi-pullyu for 401k plans. On the one hand, more part-time workers mean more people earning the minimum needed to max out the company match. This could put a strain on the benefits budget.... On the other hand, employees working longer can keep assets high and allow the fund to qualify for lower pricing tiers."  MORE >>

"[1] Financial coaching ... [2] Automatic enrollment ... [3] Sidecar emergency savings ... [4] Bonuses and/or unused PTO contributions ... [5] Student loan payment diversion ... [6] Automatic deferral rate increases."  MORE >>

"This decision can have a significant impact on your financial well-being in retirement. There are several factors to consider when making this decision, including your current financial situation, projected retirement expenses, health and life expectancy, and other sources of retirement income."  MORE >>