"[T]he new rules provide for a number of changes related to the SECURE Act and SECURE Act 2.0, including consolidated reporting for groups of defined contribution plans, improved reporting by pooled employer plans and multiple employer plans, and technical adjustments for 403(b) multiple employer plans. The rules also improve financial and funding reporting by PBGC-covered defined benefit plans."  MORE >>

"Under the proposed rules, DC plans may use forfeitures to: [1] Pay plan administrative expenses. [2] Reduce employer contributions under the plan (including restoration of benefit overpayments and restoration of conditionally forfeited accounts that might otherwise require additional employer contributions). [2] Increase benefits in other participants' accounts in accordance with plan terms."  MORE >>

"[C]ontributions can now be made to 529 plans with the knowledge that, if not all of the funds are used for the education of the beneficiary, the excess funds can be transferred to a Roth IRA for that beneficiary (and the other options, such as transferring the money to a 529 for a different beneficiary remain available)."  MORE >>

"[T]he class of plaintiffs alleged that the TriNet retirement committee committed two counts of fiduciary breach by failing to monitor plan recordkeeping costs -- causing participants to pay excessive fees for recordkeeping services -- and by employing an imprudent process in selecting and monitoring the plan's investments by selecting high-cost, underperforming investment options." [Huang v. TriNet HR III, Inc., No. 20-2293 (M.D. Fla. Apr. 26, 2023)  MORE >>

"A senator working on a plan to save Social Security says Social Security reform does not have to be the proverbial third rail of politics ... The CBO looked into two alternatives in raising the payroll tax wage cap.... Another alternative is applying the 12.4 percent payroll tax to earnings over $250,000, but skipping income between $160,200 and $250,000."  MORE >>

An unofficial monthly report of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).  MORE >>

"[The SEC designated] June 11, 2023, as the final date by which it will 'either approve or disapprove, or institute proceedings to determine whether to disapprove' the proposed NYSE and Nasdaq listing standards, which the exchanges have provided will become immediately effective upon SEC approval."  MORE >>

"For many C-level and senior executives, non-compete covenants are reinforced ... by severe company clawback rights that can pose a significant ... financial hazard to executives who want to leave or even test the waters with a competitor. If you are a C-suite or senior executive in that situation, being courted by a competitor company and fearing the potentially huge costs of making the move, how can you explore the opportunity and still protect yourself? This article shares some of the author's techniques representing C-level clients in major US corporations under just these circumstances."  MORE >>