"This post summarizes options that may be available to employers that sponsor DB Plans to reduce administrative costs and risk factors ... [1] Stay the course for funded plans ... [2] Plan mergers ... [3] Freezing plan participation and benefit accruals ... [4] Lump sum windows and annuity purchases ... [5] Plan termination."  MORE >>

"Experience studies, which look at a pension plan's valuation assumptions compared to recent actual rates, are an important part of pension plan actuarial practice. However, they cost money and require considerable effort. So it is fair to ask whether they are necessary and what an appropriate scope for review is. Here are several common arguments against an experience study, along with information indicating why these arguments may not make sense."  MORE >>

43 pages. "Key findings.... [1] Both workers and retirees report high concerns about inflation and its impact on their savings/spending.... [2] Workers' debt levels are on the rise and are negatively impacting their ability to save for retirement.... [3] Understanding of retirement plan investment options is lacking for some, and many don't consider their plan provider a go-to source for retirement planning information and advice.... [4] While workers are confident they know how much to withdraw from their retirement savings, they tend to overestimate the role many income sources will play."  MORE >>

"One in four adults -- including those who are employed part-time and full-time -- said they decreased their retirement saving in 2022 because of inflation's impact on their finances[.]"  MORE >>

"[1] Don't abandon long-term retirement goals due to short-term market fears. [2] Make sure that you have the right balance of assets for growth and volatility management in your portfolio. [3] Consider the benefits of dividend stocks in your retirement account."  MORE >>

"[In] a world of 'loss aversion', across a very wide range of assumptions, there is almost always a 'crossover point' during retirement at which moving out of drawdown into an annuity can be the optimal strategy. This suggests that the pensions industry should investigate the construction of a hybrid, 'flex-first, fix-later' pension product."  MORE >>

"[1] Clarification of PEP trustee duties.... [2] Pension-linked emergency savings account.... [3] Recovery of retirement plan overpayments.... [4] Unenrolled participant disclosures.... [5] Paper statements and e-delivery modifications.... [6] Roth catch-up contributions.... [7] ERISA safe harbor for 403(b) plans."  MORE >>

"In the nearly five decades after the passage of ERISA, the United States has seen dramatic changes in how workers save for retirement and in the allocation of risk between employers and employees. In that time, ERISA's prudence and loyalty standards have become a central feature of the regulatory regime governing employer-sponsored retirement plans."  MORE >>

"In recent years, we have also seen an uptick in anti-pension legislation and messaging -- suggesting that moving away from defined benefit pensions is the best option for states and employees.... Eliminating defined benefit pensions only exacerbates retention problems and sends quality public employees looking for other jobs with better benefits -- leaving vital public services understaffed and key positions unfilled."  MORE >>

"Su, currently the acting secretary, must now be confirmed by a vote of the whole Senate. No Republicans have yet supported her confirmation publicly, and ... it is unclear if Democrats, with 48 Senators and three who caucus with them, have the votes to confirm Su on a pure party-line basis. A floor vote has yet to be scheduled."  MORE >>

"Recent press articles have spotlighted a few marquee tech industry companies exploring a pull-back on their bonus payouts and/or stock-based compensation programs.... However, based on a Q1 survey ... the overall tech industry will most likely be holding the line on stock-based compensation -- both in terms of participation by job level and the dollar value of awards."  MORE >>