"Plaintiffs alleged that their retirement accounts were not appropriately managed, which resulted in poor investment decisions and excessive fees. Although many class action defendants are emboldened to fight on every aspect of plaintiffs' claims, the Defendants in [this case] took a different approach. Prior to the Court granting certification, Defendants stipulated to the certification of an over 25,000-person class in order to streamline the litigation and efficiently manage the litigation." [Ruilova et al. v. Yale-New Haven Hospital, Inc., No. 22-00111 (D. Conn. July 28, 2023)]  MORE >>

"With a Jan. 1 deadline approaching for a controversial provision of the SECURE 2.0 law, most sponsors are either unsure they can comply in time or are still working with their record keepers to comply, according to a [recent] survey ... 8% said they were unsure they could meet the deadline, while 56.8% were 'still trying to work out the details' with their providers. Some 22% of respondents are ready to comply. Another 11.4% are making changes and will be ready by the deadline."  MORE >>

"Properly implemented, a range of strategies in the private credit universe can help pension plan sponsors achieve their investment goals. This paper discusses the potential benefits and challenges of private credit and looks specifically at how direct lending, credit opportunity funds, capital solutions, distressed debt, and specialty financing strategies may help address specific pension portfolio needs."  MORE >>

"[T]he expanded collaboration by the two firms will help reconnect IRA holders with retirement funds they may have lost or forgotten.... Vanguard will now be sending select small-balance IRAs on its platform to RCH to facilitate investors reconnecting with their money."  MORE >>

"If you're under age 59 ½, there is an exception to the 10% early distribution penalty for higher education expenses. But there are several rules you need to follow."  MORE >>

"[1] Reduce or eliminate your debt ... [2] Save as much as possible during your working years ... [3] Obtain supplemental health insurance ... [4] Follow a financial plan and budget ... [5] Seek support from government and social services."  MORE >>

"There's no way to know how long you are going to live and whether you are going to hit your break-event point. That is a strong argument in favor of claiming as early as you can.... [I]ncreasing your income early on by claiming Social Security as soon as you retire tends to insulate you from a potential financial mishap.... [Y]ou can't take Social Security with you, and it can't be inherited by your family. Your personal savings can be transferred to someone you love. Why burn that money down first and unnecessarily fast on the chance of a slightly higher government benefit?"  MORE >>

12 pages. "[1] Recovery of retirement plan overpayments (Section 301) ... [2] Paper benefit statements (Section 338) ... [3] Pension-linked emergency savings account (Section 127) ... [4] Unenrolled participant disclosures (Section 320) ... [5] Annual funding notice (Section 343) ... [6] Small immediate financial incentives for contributing to a plan (Section 113)."  MORE >>

"[This post discusses] yet another feature of the tool that may also mislead the public about the effectiveness of these possible 'fixes.' This feature ignores the potential negative impact on system assets of overly deferring the revenue increases or benefit reductions necessary to restore system's actuarial balance. Thus, while certain changes may achieve actuarial balance ... these changes aren't expected to keep the OASDI Trust fund from running out of money during the entire 75-year projection period, and therefore, should not be considered as viable, much less as a 'fix.' "  MORE >>

20 pages. "[1] Additional credit for employer contributions (Section 102) ... [2] Expanding automatic enrollment (Section 101) ... [3] Recovery of retirement plan overpayments (Section 301) ... [4] SEP and SIMPLE Roth IRAs (Section 601) ... [5] Small immediate financial incentives for contributing to a plan (Section 113) ... [6] Code Section 420 transfers (Section 606) ... [7] Catch-up contributions required to be Roth (Section 603) ... [8] Surviving spouse election of uniform lifetime table for required minimum distributions (Section 327) ... [9] RMD treatment of in-plan Roth amounts (Section 325) ... [10] Pension-linked emergency savings account (Section 127) ... [11] Protected benefits and in-service withdrawals (Various provisions) ... [12] Mid-year termination and replacement of SIMPLE IRAs (Section 332) ... [13] Safe harbor for correcting elective deferral failures (Section 350) ... [14] Student loan payments (Section 110)."  MORE >>