33 pages; Nov. 29, 2023. "What's New for 2023: Retirement savings contributions credit ... Limit on elective deferrals.... Limit on annual additions.... Designated Roth nonelective contributions.... What's New for 2024: Retirement savings contributions credit.... Limit on elective deferrals.... Limit on annual additions.... Distributions for emergency personal expenses ... Distributions to a domestic abuse victim."  MORE >>

"The new Forms and instructions reflect reporting changes that were adopted in a regulatory package issued in February of 2023.... They represent another step in the steady march by the Agencies to substantially add to the information reported on the Form 5500 and its complexity. With each new round of Form 5500 revisions, it becomes more and more clear that the Agencies view the Form 5500 as a major enforcement and oversight tool. [This article describes] the key changes in the Forms to be aware of during the 2023 Form 5500 filing season."  MORE >>

"The proposed regulations provide a number of helpful answers that may reduce the implementation burdens for some employers. But there are also a number of nuances that are likely to be challenging to implement by the January 1, 2024 statutory effective date of SECURE 1.0, and the January 1, 2025 effective date of SECURE 2.0."  MORE >>

"In September 2023, former employees of Bed Bath & Beyond sued members of the company's 401(k) committee ... [alleging] they lost more than $5 million following the company's bankruptcy filing in April 2023 ... The employees allege that the loss they suffered was avoidable.... [A]nalyzing the lawsuit provides an opportunity to highlight some best practices." [Harvey v Bed Bath & Beyond Inc 401(k) Savings Plan Committee, No. 23-203762 (D.N.J. complaint filed Sep. 14, 2023)]  MORE >>

"‍What does a 401(k) recordkeeper do? ... What does a 401(k) recordkeeper NOT do? ...What are the different types of retirement plan recordkeepers? ...What fees does a 401(k) recordkeeper charge? ... Best practices for choosing the right recordkeeper."  MORE >>

61 pages. Full text of Nov. 9, 2023 exam with answers, published online by IRS.  MORE >>

"The ARA focused on three points in particular: [1] The interpretation of the vesting rule creates irreversible administrative complexities if the plan uses the LTPTE service rule; [2] Participants have entered the plan as LTPTEs in 2023, and therefore, the rule has retroactive consequences that cannot be reversed; and [3] Plan sponsors that would have LTPTEs entering for the first time in 2024 do not have sufficient time to respond by adjusting the plan design to avoid the irreversible administrative complexities introduced by the Proposed Regulation."  MORE >>

"A recent opinion piece ... proposes authorizing public pension systems to create a new common trust account to issue annuity-type products to private sector individuals ... The proposal ... attributes too much of ongoing retirement savings problems on a supposed distrust of private insurance agencies, and it overestimates the abilities of governments to manage this type of state-run solution."  MORE >>

"The final rule affirms the requirement that contractors annualize contributions to fringe benefit plans and also provides a safe harbor for defined contribution pension plans (DCPPs) from the annualization requirement without the need to request and have the exception approved by the DOL's Wage and Hour Division (WHD). The final rule also details specific examples of circumstances under which a contractor may take credit for costs directly related to the administration of a fringe benefit plan.... The final rule updating the DBRA took effect on October 23, 2023."  MORE >>

"The Supreme Court appears open to reversing federal agencies' longstanding capacity to adjudicate and enforce certain federal laws, potentially dealing the latest in a series of blows to the executive branch's administrative powers. The conservative majority on the court consistently expressed skepticism toward the Biden administration's argument that existing precedent protected agencies as they adjudicated laws written by Congress, instead suggesting individuals and private entities had a right to defend themselves from civil penalties before a jury." [SEC v. Jarkesy, No. 22-859 (S.Ct. oral argument transcript and audio Nov. 29, 2023)]  MORE >>

"To help you assess your organization's readiness to adjust its employee benefit program to better serve your people, Segal has developed a short self-assessment that you can complete in a couple of minutes. You'll receive immediate recommendations on preliminary areas you can explore to begin improving the appeal of your benefits to individuals."  MORE >>

"These most recent C&DIs: [1] supplement the C&DIs issued by the staff on February 10, 2023, and September 27, 2023; [2] provide additional answers to some of the questions that companies encountered in complying with the [pay-versus-performance] disclosure rules for the first time during the 2023 proxy season; and [3] clarify certain portions of the earlier C&DIs subject to the most debate."  MORE >>

"[E]xecutives are focused on creative and tax-efficient ways to maximize compensation, both now and at other inflection points throughout the year.... [The authors] dissect the executive compensation trends [expected] to continue in 2024, including considerations such as rollovers, catch-up allocations, and the emergence of the 'extra thankful' shareholder."  MORE >>