"Plan sponsors should consider whether to avoid potentially disparate outcomes and complicated plan amendments by amending the plan to replace the Three-Year Rule with the Two-Year Rule retroactive to 2022 ... SECURE Act 2.0 amends ERISA to provide an enforceable right of an LTPT Employee to make salary deferrals to the plan through the established enforcement mechanisms available under ERISA Section 502.... Consider the interplay of Form 5500 small plan relief and eligibility expansion to LTPT employees."  MORE >>

"[T]he Internal Revenue Code provides for a nonrefundable tax credit for low-paid individuals who make plan, IRA or ABLE contributions.... [U]nder SECURE Act 2.0 -- beginning in 2027 -- the tax credit will become refundable, but not to the individuals. Instead, the Federal government will deposit matching contributions into the IRAs and plan accounts of those individuals. The administrative complexity of depositing the Federal matches into those IRAs and plan accounts is significant."  MORE >>

"[I]individuals who work for smaller employers and participate in small plans pay around double the cost to invest as participants at larger plans -- around 84 basis points in total compared with 40 basis points, respectively.... This leaves workers at smaller employers potentially having 9% less saved at retirement due simply to higher fees[.]"  MORE >>

"The overwhelming majority of plan sponsors don't offer an environmental, social and governance fund as part of their retirement offerings ... Three-quarters didn't provide an ESG fund and had no plans to do so, although another 13% were considering it. Only 12% had an ESG fund."  MORE >>

"April saw a slight drop in discount rates ... Global equity market returns were mixed ... however, fixed income markets were generally positive. Pension plan funded status improved for those with meaningful allocations to large cap developed market equities. Plans with large allocations to emerging market stocks or small caps could have actually seen funding levels decline."  MORE >>

"While the Retirement Savings for Americans Act parallels workers' wishes, it is facing skepticism and industry opposition, with early critics saying it will drive business away from providers serving private-sector plans."  MORE >>

"Dynamic retirement-spending strategies, which vary retirees' cash flows based on how their portfolios have performed, can help retirees spend more from their portfolios than spending strategies that aim to supply the same real withdrawals year after year.... Guardrails offered the highest starting withdrawal rate and the second-highest lifetime withdrawal rate of any of the systems ... tested. But as effective as the Guyton-Klinger system is at boosting retirees' cash flows, it isn't not without trade-offs."  MORE >>

"Recent 401(k) investment returns have caused many investors to wonder how to protect their portfolios against stock and bond market losses for the rest of 2023. Here is a hint: Do not follow the popular 401(k) investment management strategies."  MORE >>

"There is growing evidence that Bitcoin mining is ESG friendly and has the potential to help renewable energy projects operate more efficiently and profitably. Despite the ESG friendly nature of Bitcoin mining, a fiduciary should only invest in bitcoin (or a Bitcoin mining company) if the fiduciary concludes that such an investment would maximize the financial interests of the plan participants."  MORE >>

32 pages; employee benefits items begin on page 4.  MORE >>