"The new 529-to-Roth transfer rule is meant to increase comfort with 529 plans by alleviating concerns about unintended taxation, allowing families to maximize the time value of money by investing for tax-free growth on college savings as early as possible. But the transfer rule has certain limitations, which are clearly meant to deter families from using 529 savings plans as additional wealth-transfer vehicles rather than for responsible educational funding planning."  MORE >>

"Should your organization's fiduciaries care more about the process or the outcome? Current litigation trends suggest the answer is: both. But if fiduciary responsibilities are procedural, how can that be?.... [Several recent] cases are important for your organization -- not necessarily because you're going to face litigation, but because they set out a number of procedural best practices that will help with the substantive details of how your plans operate."  MORE >>

"Among plan sponsors looking to switch advisers, 38% said they were searching for an adviser who provided more extensive services, followed closely by 36% interested in an adviser who was better at tacking servicing issues, and 34% seeking someone with more effective employee communication and education options."  MORE >>

"If the bankrupt business maintains a defined benefit plan, it must notify the [PBGC] of the bankruptcy filing -- either Chapter 7 or Chapter 11. The PBGC, however, does not automatically take over the defined benefit plan."  MORE >>

"This paper analyzes consumption to evaluate the distributional effects of pension reforms. Using Swedish administrative data, [the study finds that] on average workers who retire earlier consume less while retired and experience larger drops in consumption around retirement. Interpreted via a theoretical model, these findings imply that reforms incentivizing later retirement incur a substantial consumption-smoothing cost."  MORE >>

"[E]mployer's average contribution rates for the New York State and Local Retirement System (NYSLRS) will increase from 13.1% to 15.2% of payroll for the Employees' Retirement System (ERS) and from 27.8% to 31.2% of payroll for the Police and Fire Retirement System (PFRS).... [T]he State Retirement System had a funded ratio of 90.3% as of March 31, 2023."  MORE >>

"Instead of simply having faith that historical returns will continue in the future and believing your financial advisor's assessment that you have a 90% probability of not running out of money if you spend exactly $X per year, [the authors] recommend using [these steps] to better manage your financial risks in retirement.... [1] General actuarial process.... [2] Use a floor portfolio to fund essential expenses.... [3] Use conservative assumptions.... [4] Spend less."  MORE >>

An unofficial monthly report of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).  MORE >>

"For fiduciaries overseeing other people's money, private equity's disparate treatment of investors, abusive industry practices and alarming lack of transparency should be deal-breakers. Nevertheless, pensions in recent years have dramatically increased their allocations to private equity, either because they don't understand the dangers lurking in the shadows or simply don't care as long as above-market returns are promised -- enhanced returns which will supposedly reduce severe pension underfunding."  MORE >>

"The terms of five Council members expire at the end of this year. The groups or fields they represent are as follows: [1] Employee organizations; [2] employers; [3] the general public; [4] corporate trust; and [5] investment management.... Nominations must be received on or before [45 days after publication in the Federal Register, currently scheduled for Sept. 6, 2023]."  MORE >>

"Employee benefits programs are indispensable to your organization's compensation package. A well-designed benefits package can increase employee retention and improve workplace productivity.... This article will help you create a winning employee benefits program in eight simple steps."  MORE >>