"The three-judge panel's 48-page opinion ... joined the Third, Sixth, Seventh and Eighth circuits in embracing a pleading standard that requires [ERISA] plaintiffs to offer up a 'meaningful benchmark' by which a court can compare an allegedly mismanaged plan to a better one....[T]he appellate panel explicitly permitted Barrick to use documents referenced in, but in addition to the complaint, to successfully dispute higher fee allegations on the facts. " [Matney v. Barrick Gold of N. Am., No. 22-404 (10th Cir. Sept. 6, 2023)]  MORE >>

"Plan fiduciaries must ensure that, in addition to reviewing funds' investment performance over different time periods and analyzing any fees charged by the funds, they consider the funds' liquidity and determine if there are any surrender fees, penalties, or adjustments to get out of the funds, either on a participant or plan level."  MORE >>

"As a first step toward updating ERISA's reporting and disclosure requirements for 10 different provisions of the SECURE 2.0 Act ... the [DOL] has issued an expansive request for information (RFI). The RFI covers SECURE 2.0's new requirement for paper statements and other provisions that apply to defined contribution (DC) and defined benefit (DB) plans -- including pooled employer plans (PEPs)."  MORE >>

"Even if the audit finds an operational failure, the IRS correction program likely offers a pre-approved solution through [EPCRS].... [This article summarizes] the most typical audit findings[.]"  MORE >>

"As of December 31, 2022, a total of $37.8 trillion was held in U.S. retirement plans and accounts, of which $26.3 trillion was in employer-sponsored plans and $11.5 trillion was in IRAs.... From 2013 to 2022, total real (inflation-adjusted) retirement assets increased by $4.4 trillion (13.3%).... The growth in IRA assets contributed most to retirement asset growth with a $2.8 trillion real increase from 2013 to 2022. DC plans sponsored by the federal government grew by the greatest percentage rate at 43.4%. Holdings of financial assets by private sector DB, federal DB, and state and local DC plans all decreased in inflation-adjusted terms from 2013 to 2022." [R47699 Sep. 20, 2023]  MORE >>

"Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) and Health, Employment, Labor, and Pensions Subcommittee Chairman Bob Good (R-VA) sent a letter to Acting Secretary of Labor Julie Su raising concerns over [EBSA] ... Foxx and Good write: 'Disturbing reports from stakeholders indicate that EBSA is failing to conduct its enforcement in a timely manner, creating unacceptable burdens for retirement plan sponsors and negatively impacting retirement savers, retirees, and their families.' "  MORE >>

"[E]lectric recordkeeping has left its imprint on almost every corner of ERISA. And while it has made many of the quotidian aspects of ERISA plan administration quicker and less expensive, it has created new issues and sometimes compounded old unresolved ones. Many of these issues touch on the ability of participants and beneficiaries to demonstrate entitlement to benefits they have earned, often decades earlier."  MORE >>

"[T]op HR priorities for healthcare employers include: [1] A well-thought-out total rewards strategy is imperative for employee retention and engagement.... [2] Employers are looking for ways to expand mental health services and acceptability.... [3] Concerns about burnout are prompting employers to enhance career wellbeing resources ... [4] Financial wellbeing is increasingly important to employees, with 49% of healthcare organizations opting to auto-enroll their employees in a 401(k) or 403(b) plan."  MORE >>

"Section 510 of ERISA bars retaliation or similar employment actions against employees who exercise their rights under ERISA. For years, such claims.... lacked legs.... Recent decisions ... suggest that this dynamic is well on its way to changing, and that recovery under Section 510 is a risk that plan sponsors and their lawyers now have to take seriously at all times." [Kairys v. S. Pines Trucking, Inc., No. 22-1783 (3d Cir. July 25, 2023)]  MORE >>