"The question of how plan sponsors can most effectively respond to and communicate news of a data leak to their participants has been a central topic for years. But a new [SEC] rule in effect this year outlining how quickly public companies must disclose material cybersecurity events is expanding ongoing discussions about best practices for disclosure and prevention."  MORE >>

"Choosing the right TPA for your retirement plan is a critical decision that can significantly impact your plan's success. Here are key factors to take into consideration when choosing a TPA."  MORE >>

"7 in 10 (72%) respondents worry that higher taxes in the future will impact their retirement income from tax-deferred accounts such as a 401(k) or IRA.... 73% of respondents say they would stop using their current financial advisor if they did not help effectively manage taxes on retirement income. Slightly more Gen Xers (84%) than Boomers (67%) or Millennials (77%) said they would stop using an advisor if they didn't help effectively manage taxes on retirement income."  MORE >>

"When asked to rate the 'level of litigation risk' for management accounts, 22% of plan advisers (those overseeing at least $10 million in plan assets) saw litigation risk as high or significant, with another 37% seeing it as unlikely, but agreeing that 'concern is warranted,' according to the research. Those figures were higher for retirement benefit consultants (those overseeing on average $1.2 billion in plan assets), with 47% seeing high or significant risk, and 29% seeing it as unlikely, but still concerning."  MORE >>

"Demand for collective investment trusts continues to increase, growing market share in small and midsize plans .... DCIOs estimate that 22% of current CIT sales are generated from plans with less than $50 million in assets, with another 23% coming from plans holding between $50 million and $100 million in assets[.]"  MORE >>

"[A] lack of formal regulatory guidance from the [DOL] has left ESOPs reliant on informal guidance from private settlement agreements with ESOP fiduciaries, a hodgepodge of conflicting DOL and private plaintiff court cases, and the observed (and inconsistent) outcomes of DOL enforcement (which varies by regional office).... This persistent regulatory uncertainty creates burdens and risks that can discourage employee ownership and hamper ESOP-owned businesses."  MORE >>

"A participant in a Kellogg Co. union pension plan has sued the company, its fiduciaries, the union plan and a separate company pension plan, alleging that the use of old mortality data for pension benefit calculations violates ERISA and shortchanges retirees." [Reichert vs. Kellogg Co., No. 23-12343 (E.D. Mich. complaint filed Sep. 14, 2023)]  MORE >>

"The university changed its formulas July 1 this year, but participants who started receiving benefits before that date were locked into lower payments caused by older mortality tables, the lawsuit said." [Franklin v. Duke Univ., No. 23-0833 (M.D. N.C. complaint filed Sep. 29, 2023)]  MORE >>

"The [DOL] should address the challenges and risks faced by employee benefit plan members due to the electronic and digital recordkeeping of their plan information, the Pension Rights Center told the ERISA Advisory Council ... [PRC representatives] voiced the concerns of employees and consumers who are often left out of the debate on electronic recordkeeping and other plan changes designed to promote administrative efficiencies and reduce costs."  MORE >>

"[This article] discusses the SECURE 2.0 student loan benefit and other employer options for providing tax-advantaged benefits to employees based on student loan payments. It also examines the open questions and current implementation challenges for sponsors of 401(k) and 403(b) plans hoping to implement the student loan benefit."  MORE >>