"This document sets forth final regulations specifying the methodology for constructing the corporate bond yield curve that is used to derive the interest rates used in calculating present value and making other calculations under a defined benefit plan ... These regulations apply for purposes of determining the corporate bond yield curve under section 430(h)(2)(D) of the Internal Revenue Code for months that begin on or after February 1, 2024."  MORE >>

22 pages. Includes description and Examination Steps for: [1] Determining top-heavy status (identifying the employer, determination date, key employees, aggregation of plans, calculating top-heavy ratio); [2] Top-heavy allocations (minimum contributions and minimum accrued benefits); [3] Additional allocations; and [4] Top-heavy vesting. [Rev. Oct. 2023; pub. Jan. 2024]  MORE >>

"While the [DOL] wades through more than 19,000 comments on its proposal to amend the definition of the term 'fiduciary' ... lawmakers in Washington and retirement industry stakeholders dissected it further. Four of the five witnesses who testified before the House Financial Services Capital Markets Subcommittee in a Jan. 10 hearing were against the proposal, as well as most of the committee members posing questions."  MORE >>

"The Department previously posted unofficial transcripts ... It determined that the most efficient way of providing notice of the posting was through a press release and email blasts, rather than through a Federal Register notice as was stated at the hearing." [Day 1 Official Transcript] [Day 2 Official Transcript]  MORE >>

"[M]ost experts expect a lawsuit to challenge the rule in court, in an identical move out of the playbook of the industry trade groups that successfully got Labor's last attempt at a similar rule vacated in 2018. In another echo of earlier rulemakings or legislative efforts, opponents such as the Financial Services Institute, Ameriprise and LPL Financial helped advisors flood the agency with thousands of form letters."  MORE >>

"This article aims to shed light on the critical aspects of fee transparency so plan sponsors can best help the plan but also relay relevant details to participants.... [The article includes] actionable strategies for reducing costs, such as embracing technology and automation, effectively managing small account balances, and leveraging recordkeeper technology to enhance participant engagement."  MORE >>

"With retirement plan fees serving as the centerpiece for many different fiduciary breach lawsuits, understanding fee dynamics has become a critical responsibility for plan sponsors and fiduciaries. This article ... explore[s] the different types of retirement plan fees by taking an in-depth look at investment costs, provider fees, and fee allocation methodologies."  MORE >>

"When developing a financial wellness program, here are a few questions to ask ... [1] What is the overall goal of the program? ... [2] What aspects of financial wellness does the program want to highlight? ... [3] How will we communicate the new resources available to employees? What does the material look like? ... [4] How will we measure the success of the program?"  MORE >>

"[T]he final regulations' higher penalty amounts apply for penalties assessed after January 15, 2024, whose associated violations occurred after November 2, 2015.... [A] table reflects the DOL's 2024 annual inflation adjustments to the civil money penalties for violations of certain requirements under ERISA, effective January 15, 2024."  MORE >>

Rev. Jan. 2024. "This fact sheet provides general information on how to determine if a worker is an employee or independent contractor under the FLSA.... What Is the Economic Reality Test? ... Economic Reality Test Factors: [1] Opportunity for profit or loss depending on managerial skill.... [2] Investments by the worker and the employer.... [3] Degree of permanence of the work relationship.... [4] Nature and degree of control.... [5] Extent to which the work performed is an integral part of the employer's business.... [6] Skill and initiative."  MORE >>

"[T]he rule fails to provide a realistic solution for the frequent scenario where workers who desire to be independent contractors choose themselves to be 'economically dependent' on work made available to them by one company, such as an ongoing business relationship between a vendor and its customer. As such, the rule is likely to create more uncertainty for companies that utilize legitimate independent contractor relationships to carry out their business functions."  MORE >>

"[1] GLP-1 drug coverage decisions ... [2] More financial health offerings ... [3] Pay increases will meet or exceed inflation ... [4] Mental health focus ... [5] Controlling health care costs ... [6] More pay transparency ... [7] Pensions may make a comeback."  MORE >>

"As plans face potential vulnerabilities and threats, their strategies around data protection will vary based on factors such as size, scope and unique risks at play, but here are nine myths and misconceptions surrounding cybersecurity that every plan stakeholder should be aware of to ensure a more accurate understanding of a plan's risk posture."  MORE >>