"Plan participants who self-certify as a victim of domestic abuse may make an eligible distribution within a one-year period beginning on any date on which the individual is a victim of abuse by a spouse or domestic partner.... Amounts withdrawn may be paid back into the plan within a three-year period, beginning on the day following the distribution. If the amount is repaid within that three-year period, the income tax will be refunded on the repaid money."  MORE >>

"Participants solely eligible due to the LTPT rules may be excluded from the nondiscrimination and coverage testing.... If as a Plan Sponsor you choose to include this group for any Employer contribution, their vesting is based on a service year of 500 hours, including years prior to 2021.... Once a LTPT employee enters the plan, they continue to be eligible even if their hours drop in future years."  MORE >>

"The rule ... 'falls comfortably within the department's statutory authority,' the Justice Department said in [a] June 2 filing ... [In] promulgating the new rule, 'DOL reaffirmed, consistent with ERISA's statutory text, that fiduciaries' exclusive purpose must be to secure financial benefits for plan participants and beneficiaries, and that this purpose may never be subordinated to unrelated goals,' the Justice Department added." [Utah v. Su, No. 23-00016, (N.D. Tex. defendant's memorandum filed Jun. 2, 2023)]  MORE >>

"The defendants argued that, as a result of the financial support provided under [the Bipartisan American Miners Act ], the plan was in fact fully funded and therefore did not suffer the injury-in-fact necessary to collect any additional amounts from withdrawing employers or their controlled group members. The court rejected this argument ... [T]his decision does not bode well for employers that may seek to assert a similar argument to challenge the plan's standing to collect some or all of its share of the plan's withdrawal liability after having received [special financial assistance under ARPA]." [Holland v. Murray, No. 21-567 (D.D.C. Mar. 27, 2023)]  MORE >>

"[1] Clearer fee disclosure.... [2] Make it easier and less costly to access cash.... [3] Remove brokerage options.... [4] Replace employer-centric accounts with employee-centric accounts.... [5] Non-retirement plan integration.... [6] Clarify scope of ERISA preemption."  MORE >>

"Even if a plan fiduciary is not ready to make bitcoin available to plan participants or place [it] on a pension fund's balance sheet, it is time for all plan fiduciaries to have a deep understanding of Bitcoin's fundamental properties. One question that plan fiduciaries should ponder is: If this market cycle is not the right time for plan participants and plans to invest in bitcoin, how many more successful market cycles are needed?"  MORE >>

"Many Americans now say that their retirement strategy is derailed, and they aren't sure when or how they will get it back on track. More than half of Americans say they consider 'financial crises' a permanent part of their retirement planning."  MORE >>

"Most households in the National Retirement Risk Index have a good sense of whether they are on track for retirement: 40 percent are in good shape and know it. 20 percent are in trouble and know it. The rest are either 'not worried enough' or 'too worried.' Those 'not worried enough' are more likely to have higher incomes and may misjudge how much their assets can provide. While this group is in the most danger of saving too little, even those who do recognize they are in trouble may not act unless prodded."  MORE >>

"[T]hese activist crusades are all flawed from a fiduciary perspective, revealing that there is an ulterior and improper political motive at work here.... There is no merit to any of the litigation or the corporate resolutions. But unfortunately, the retirement plan fiduciaries are pawns in culture wars being waged by activists."  MORE >>

"The NTSA hails the legislation for allowing teachers access to a 'trusted advisor'.... [T]hey are not referring to ... a fiduciary one who must pledge to put the interests of their client first. They are referring to the same salesperson trawling school district staff lounges, and educator email in-boxes which have made the K-12 403(b) a cesspool of high fees and surrender charges.... Teacher advocates still have time to express their displeasure at this anti-competitive legislation."  MORE >>

"Shifting to tactical steps to improve EX and retention  ... The importance of benefits education and awareness ... Examples of successful employee benefits communication tactics ... Boosting employee benefits engagement improves EX and retention."  MORE >>

"[Memorandum GC 23-08] explains that overbroad non-compete agreements are unlawful because they chill employees from exercising their rights under Section 7 of the National Labor Relations Act, which protects employees' rights to take collective action to improve their working conditions.... General Counsel Abruzzo explains that in some cases, noncompete agreements could be lawful if the provisions clearly restrict only individuals' managerial or ownership interests in a competing business, or true independent-contractor relationships."  MORE >>