"Employers and plan sponsors will want to work closely with their recordkeepers and payroll departments to determine whether [the optional Emergency Savings Accounts] are administratively feasible and who will shoulder the burden for their operations.... Plan sponsors ... should send an informal notice to participants reminding them of the ability to repay a QBAD, even if it was taken from another qualified retirement plan."  MORE >>

"For the moment, if ASA stands, as it appears it will, the case will be a blow to what was arguably a centerpiece of the DOL's efforts to regulate rollover solicitations. It remains to be seen, however, what the DOL's next steps will be. In this regard, there are strong indications that the DOL may be considering yet another change to the Existing Fiduciary Rule." [American Securities Association v. DOL, No. 22-0330 (M.D. Fla. Feb. 13, 2023; stipulation as to voluntary dismissal filed May 16, 2023; 11th Cir. No. 23-11266)]   MORE >>

"Given the choice between two investments that will have similar expected long-term returns and risk, choose the one that produces more income vs. capital appreciation.... Consider ways to reduce asset price volatility while not impairing liquidity.... Make contributions more frequently.... Ensure the plan's investment policies allow for a degree of tactical decision-making on the part of the investment managers."  MORE >>

"[T]he first question, the one asked from the plan sponsor’s perspective, came back with a slightly different answer (identifying appropriate investment options and then providing employee education regarding those options). This second question, from the professional fiduciary’s outlook, adds a bit of emphasis on fees. Are the different responses significant? Is the similarity in responses a problem?"  MORE >>

"[O]utsourcing day-to-day plan operations can be a powerful way to reduce liability for the company and, more importantly, save time that can be better used growing the business.‍...  3(16) fiduciaries are all about the daily operations and administration of retirement plans. They take on fiduciary liability for the plan's administrative tasks, ensuring everything is done correctly and on time."  MORE >>

"To offset inflation, 37% of respondents are considering increasing their credit card debt to stay afloat; 24% are thinking about reducing their retirement plan contributions; 21% are considering taking or have already taken out a loan ... These short-term tactics may erode the financial future for many consumers, who may not realize the resources and help available to them through workplace retirement plans[.]"  MORE >>

"The friendly-PC model involves a professional service corporation (PSC) conducting a medical practice in affiliation with a management services organization (MSO).... Although the friendly-PC model may be a solution to the corporate practice of medicine doctrine, it can create unintended consequences for employee benefit plans sponsored by the PSC and MSO."  MORE >>

"According to the IPS report, in 2022 one financial firm saw a 33 percent increase in the number of its clients offering top hat funds.... Whatever you call them, they're an outrage. There are technical ways Congress can limit their growth.... A difficulty is that corporate promises to pay out make top hat funds hard to distinguish legally from more legitimate deferred-compensation arrangements like merit bonuses or royalties or payment on completion of a construction project."  MORE >>