"Here's an overview of student loan matching plan design, why employers would consider offering, what is known about implementation and what regulatory guidance is expected."  MORE >>

"This rule addresses [1] the procedures and requirements for covered employers to register with the program, [2] the establishment of and investment in such accounts for covered employees and individual program participants, [3] the procedures covered employers must follow to comply with the underlying legislation, and [4] the information required for program account holders."  MORE >>

"The combination of [1] an unprecedented gap between standard and alternative interest rates due to the sharp increase in rates since 2021 and [2] the steep increase in the premium rate, from 0.9% of UVBs in 2013 to 5.2% in 2023, means that the dollar amounts at stake with respect to the VRP calculation dwarf all past years. For a typical $100 million plan, the decision could easily be worth $1 million or more."  MORE >>

"In the U.S., the PRT market 'appears poised to set another record' with an estimated $22 billion in total transaction volume through June ... That is 31% higher and $4 billion more than a previous record set in the first half of 2022, and well above the $8.7 billion in transactions in the first half of 2021[.]"  MORE >>

"In its settlor capacity, the plan sponsor may be focused on getting a good price in a transfer transaction. But a plan sponsor engaging in a pension risk transfer, it is still an ERISA fiduciary, and is required to act prudently and in the best interests of the plan's participants and beneficiaries[.]"  MORE >>

"[PBGC] has approved the application submitted ... by the Ironworkers Local Union No. 16 Pension Plan. The plan, based in Baltimore, Maryland, covers 996 participants in the construction industry. On October 1, 2018, the [Plan] implemented a [MPRA] benefit suspension ... [and] reduced benefits of about 680 plan participants.... The plan will receive $75.8 million in SFA[.]"  MORE >>

"Several steps are required to get from Point A to completely closed down.... [1] Locate all plan records.... [2] Locate all corporate records.... [3] Get in touch with the plan's various service providers.... [4] decide how (and where) to take your distribution."  MORE >>

"The outlook is grim as a comfortable retirement seems further and further out of reach for most Americans. And at the same time, employers are struggling with employee retention in a particularly tight labor market. While the solution to these massive challenges will ultimately require a multifaceted approach, the long-term answer may be simple: Make pension plans mainstream again."  MORE >>

"Taxpayers affected by the storm that began on Aug. 27. 2023, now have until Feb. 15, 2024, to file various individual and business tax returns and make tax payments.... [I]ndividuals and households affected by Idalia that reside or have a business in Alachua, Baker, Bay, Bradford, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hardee, Hernando, Hillsborough, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Nassau, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, Sumter, Suwannee, Taylor, Union, Volusia and Wakulla counties in Florida qualify for tax relief."  MORE >>

"In times of a tight and competitive hiring market, employers may consider split-dollar life insurance as one of many diverse strategies to attract and retain desired employees. These plans are best established for key employees as a fringe benefit ... This split-dollar plan may not only accomplish an employee's wealth-transfer goals, but also may establish a business's replacement fund for a valuable employee. These split-dollar arrangements can vary depending on the interests of the employer and employee[.]"  MORE >>