"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

"For plan years beginning after December 31, 2023, employers may terminate a SIMPLE IRA plan at any time during a calendar year and replace it with a safe harbor section 401(k) plan. Notice 2024-02 clarifies that the establishment of a safe harbor 401(k) plan is considered an exception to the SIMPLE IRA exclusive plan rule. The effective date of the safe harbor plan must be the day after the termination date of the SIMPLE IRA plan."  MORE >>

"A world rife with cyberattacks has caused great uncertainty to fiduciaries, especially when personal liability is at stake.... The first step for affected parties is to comprehend the threats and to embrace the full array of countermeasures at their disposal. Through the implementation of prudent actions, coupled with vigilance and training, plan sponsors can take the necessary steps to defray unwanted liability."  MORE >>

"Make sure your plan has the required documentation.... [A]void late enrollment of eligible participants.... [D]etermine with your payroll provider how early you can reasonably make contributions and set procedures to help ensure deposits are consistently made by that date.... [L]oan procedures must be in writing.... The importance of documentation cannot be overstated."  MORE >>

"[O]pponents of the proposal would prefer continued reliance on [NAIC] Model Regulation 275, which has been adopted ... by more than 40 states and which mandates a best-interest standard of care for annuity customers.... The main criticisms of the NAIC Model Reg, in comparison to the DOL's proposal, are that the model regulation does not consider compensation to be a source of conflicts of interest, it has poor disclosure requirements and it does not permit a private right to sue for damages."  MORE >>

Video of March 20 hearing. Opening statement by Rep. Bob Good (R-VA) and Testimony of The Honorable Gordon Hartogensis, Director, PBGC.  MORE >>

"While some Millennials said ceasing all work by age 65 is a goal they are highly focused on working toward, many said they view retirement not necessarily as complete exit from the workforce, but rather a 'time of greater flexibility in their lives.' ... 47% of Millennial respondents said they will retire as soon as they can afford it, and 22% said they will keep working, either because they 'enjoy it or [because they] don't have sufficient retirement savings.' "  MORE >>

"[This report includes:] Insights into existing race and gender disparities in retirement account balances and the causes of such disparities [and an] analysis of race and gender differences in retirement plan contribution, loan, and preretirement withdrawal behavior[.]"  MORE >>

Updated March 2024. "As with other actuarial assumptions, projecting public pension fund investment returns requires a focus on the long-term. This brief discusses how investment return assumptions are established and evaluated, and the investment of public pension assets within a challenging investment environment."  MORE >>

33 pages; employee benefits items begin on page 4.  MORE >>

"[P]articipants and beneficiaries are not entitled to any and all plan-related documents; rather, they are generally entitled to those documents that inform participants and beneficiaries about their eligibility for and entitlement to benefits under an ERISA-covered benefit plan. Employers should review such requests closely to fully understand the parameters of the request and determine exactly what documents may be responsive." [Zavislak v. Netflix, Inc., No. 21-1811 (N.D. Cal. Jan. 31, 2024)]  MORE >>

"[T]he court ruled that the administrative services agreements related 'only to the manner in which the plan is operated,' as they govern the relationships between Netflix and its service providers, and not the relationship with plan participants, and therefore did not need to be disclosed." [Zavislak v. Netflix, Inc., No. 21-1811 (N.D. Cal. Jan. 31, 2024)]  MORE >>

"401(k) contributions: severance doesn't Count, but post-termination payments could ... Make sure to read, and maybe follow, any employment or other contract ... Watch out for 409A ... COBRA & other post-termination welfare [benefits]: be careful with your promises."  MORE >>

"Nonprofits that fail to administer their Code Section 457(b) plans correctly from day one risk losing their plans' tax-favored status. Following these five rules may help Nonprofits avoid that headache. [1] Keep it small(ish) ... [2] Know your limits ... [3] Don't forget the FICA ... [4] No to loans; but yes to unforeseeable emergencies ... [5] The devil is in the distribution rules."  MORE >>