"Congress included a provision in SECURE 2.0 that allows for rollovers of unused 529 funds to Roth IRAs. While this a worthy idea, beware of important restrictions on this new rollover rule.... SECURE 2.0 ... [exempts] Roth 401(k) funds from lifetime RMDs. Keep in mind that beneficiaries of inherited Roth 401(k)s are still subject to RMDs."  MORE >>

"Notice 2024-2 provided guidance on ... which plans would be exempt from [the automatic enrollment] requirement ... What is a grandfathered plan? ... What about participating employers in a MEP or PEP? ... What is the status of a plan that is spun off from a MEP or PEP? ... Do we treat merged plans as grandfathered plans? ... What about mergers of existing plans into a MEP or PEP? ... What about 403(b) plans? ... Do the mandatory EACA rules apply to the new starter 401(k) deferral-only plans? ... What happens if we make a mistake with automatic enrollment?"  MORE >>

"[T]here is little helpful guidance on what a prudent process should look like for the evaluation of annuity contracts.... [C]osts are embedded in products such as fixed rate and fixed indexed annuities. How should the costs be identified and quantified? What should the costs be compared to?"  MORE >>

"[On January 2, the DOL] wrapped up a relatively quick comment period ... on its controversial fiduciary rule.... [S]upporters and opponents [flooded] the DOL inbox ... Trade associations are generally circumspect about potential legal challenges. Not this time. Perhaps emboldened by a 2018 federal appeals court decision tossing out the 2016 fiduciary rule, opponents openly addressed future lawsuits against the current version."  MORE >>

"While some factors ... demand systematic change beyond the financial services industry, firms can take steps to better support female participants by working to improve financial literacy among women, providing inclusive inputs for retirement readiness tools and offering a balanced suite of education content and practical tools within the participant site."  MORE >>

"Pension finances were mixed again in December, as lower interest rates pushed up liabilities while higher stock markets increased asset values. [The two] model plans diverged modestly, with Plan A losing 2% last month but ending 2023 up 7%, while the more conservative Plan B was flat in December, ending the year up almost 2%."  MORE >>

"The aggregate funded ratio for U.S. corporate pension plans increased by an estimated 0.6 percentage points in December, ending the month at 105.7%, a 7.0 percentage point increase from December 2022 ... The aggregate funded ratio is estimated to have increased by 0.8 percentage points during the fourth quarter and by 7.0 percentage points over the calendar year 2023.The 7.0 percentage point increase marks the third largest calendar year increase since 2012."  MORE >>

40 pages. "ACLI and its members remain perplexed as to why the Department continues to commit governmental resources toward a re-definition of the term 'investment advice fiduciary.' This 'new' Proposal incorporates many of the same inappropriately expansive concepts as were included in the Department's 2016 fiduciary rulemaking package that was vacated by the Fifth Circuit as inconsistent with the statutory text of ERISA.... [T]his Proposal has several significant fatal flaws, is similarly inconsistent with the statutory text and, therefore, must be withdrawn."  MORE >>