"What's New: The repayment period for a qualified 2019 disaster distribution ends 3 years and 1 day after the distribution was received. This is particularly important if your qualified 2019 disaster distribution was received in 2020. Repayments reported on 2023 Form 8915-D can be used to reduce the income reportable on your 2020, 2021, 2022, or 2023 tax return, as applicable; if you have already filed your tax return for the year in question, you will need to amend that return.... Roth SEP and Roth SIMPLE IRAs have been added to the list of eligible retirement plans as of January 1, 2023."  MORE >>

"The final regulations update both the base tables and improvement factors. The new base tables ... reflect updates through 2014. The new improvement factors, a modified version of Scale MP-2021, similarly are based on more recent data updated through 2019.... [T]he lump sum mortality tables will apply the same baseline mortality data and mortality improvement scales, so these trends may impact the value of lump sums in the future."  MORE >>

"The notice of appeal ... comes roughly a month after Judge Matthew J. Kacsmaryk surprised many by ruling against the coalition of attorneys general, concluding that the [DOL] didn't exceed its regulatory limits or violate federal benefits law in establishing the regulation." [Utah v. Walsh, No. 23-0016 (N.D. Tex. Sep. 21, 2023; notice of appeal filed Oct. 26, 2023)]  MORE >>

"[T]he DOL alleged [the owners] sold B+K to an [ESOP] at an allegedly inflated value.... The Appellants won after a five-day bench trial, but the district court denied them attorneys' fees and costs ... The Ninth Circuit held that the district court did not abuse its discretion in denying attorneys' fees upon determining that the government's position was substantially justified, where '[t]he government's expert, despite his errors, arguably had a reasonable basis -- at least at the time of trial -- in questioning whether the company's profits could surge by millions of dollars in just months.' " [Su v. Bowers, No. 22-15378 (9th Cir. Oct. 25, 2023)]  MORE >>

"The American Airlines putative class action demonstrates yet another approach to opposing ESG investments. ERISA litigation may be an effective mechanism to pressure companies to reconsider how they invest retirement funds." [Spence v. American Airlines, No. 23-0552 (N.D. Tex. motion to dismiss amended complaint filed Sep. 8, 2023)]  MORE >>

"[In] addition to evaluating more-technical due diligence items (i.e., investment methodologies), sponsors should consider the potential benefits of providing access to human advisors, limiting potential conflicts of interest, and providing participants with a broader range of personalized advice via value-add programs, such as financial wellness and planning."  MORE >>

"During September, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.5% of a plan's accounting liabilities (accumulated benefit obligation, or ABO) to 101.1% of those liabilities.... During the same period, the average annuity purchase cost across all insurers in our index also rose 60 basis points, from 102.9% to 103.5%."  MORE >>

"Sens. John Hickenlooper (D-Colo.) and Thom Tillis (R-N.C.) ... introduced the Retirement Savings for Americans Act [S 3102], which would establish portable, tax-advantaged retirement accounts sponsored by the federal government.... 'Why would any business owner maintain a retirement plan if the federal government is going to take over all the costs and responsibility of providing retirement benefits?' said Brian Graff, CEO of the American Retirement Association."  MORE >>

"Church plans are generally exempt from most ERISA requirements, including rules to fund plans, disclose information, and insure benefits.... This report addresses [1] data available on church plans and plan administration, [2] federal and state roles regarding church plans, and [3] expected outcomes for participant benefits from church plan litigation."  MORE >>

"[Illinois HB 2862 provides that,] if a temporary laborer is assigned to work for a third party client for more than 90 calendar days (non-consecutive), the temporary laborer must be paid at least the same rate of pay as the lowest paid comparable, directly hired employee, and provided equivalent benefits.... New Jersey also aims to provide covered temporary workers with equal pay and benefits to directly hired employees.... [G]uidance on determining whether benefits are comparable is very much needed."  MORE >>