"The SECURE 2.0 Act directs EBSA to establish a search tool to help missing participants and their beneficiaries find their retirement benefits by Dec. 29, 2024. The agency needs assistance from plan administrators to populate its online 'Retirement Savings Lost and Found' database. The notice of proposed information collection asks plan administrators to provide the information voluntarily, and it proposes that plan administrators can attach the requested information to their 2023 Form 5500 once they receive instructions on how to do so."  MORE >>

"These proposals will significantly impact recommendations of annuities, securities and other investments by insurance producers and securities professionals to retirement investors.... However, the impact will be greatest on the distribution of annuities, and regulatory attention is particularly focused on fixed indexed annuities (FIAs)."  MORE >>

"[Notice 2024-2] provides clarity on [SECURE 2.0's] new self-correction for auto-enrollment errors. However, sponsors of plans subject to the auto-enrollment mandate still need guidance on other implementation issues before the mandate takes effect with the 2025 plan year."  MORE >>

"Here are four reasons you might consider conducting a search even if you feel your fees and services are reasonable. [1] Leverage for further reducing fees ... [2] Fiduciary liability insurance ... [3] Better service ... [4] Fiduciary risk."  MORE >>

"In a letter ... to acting Labor Secretary Julie Su [and] the Office of Management and Budget [OMB], the groups -- which include the Financial Services Institute and the Insured Retirement Institute -- state that Labor rushed its rule through and asked Labor and OMB to 'stand up for the integrity of the regulatory process and continue the public input process.' The groups' letter comes just days after [OMB] concluded on April 10 its review of Labor's final fiduciary rule."  MORE >>

"[BlackRock] is preparing to launch the LifePath Paycheck defined contribution retirement plan investment program, which combines a family of target date funds with a chance for the plan participants to buy a lifetime income stream option, later this month.... The program will help ease the financial uncertainty that the shift to defined contribution plans, from defined benefit pension plans, has created for retirement savers, [BlackRock CEO Larry Fink] said."  MORE >>

"[N]early seven in 10 pre-retiree investors (69%) say the 'norm' of retiring at age 65 doesn't apply to them ... [T]wo-thirds (67%) of pre-retirees expect to face more challenges in retirement than their parents and grandparents."  MORE >>

"A well-executed rollover can tip the balance toward financial security.... Today the 'easy' path for participants is to simply take the money -- net of taxes and penalties -- and run. But that puts millions of participants and their retirements at risk. The challenge for the industry today is to develop secure, prudent pathways that make it easy for participants to do what's best for their long-term retirement security -- and the nation's."  MORE >>

Video of Apr. 16 hearing. Opening statement, Rep. Bob Good (R-VA); testimony from [1] Mr. Russell DuBose, Phifer Inc.; [2] Ms. Mairin Mancino, Peterson Center on Healthcare; [3] Ms. Karen L. Handorf, Berger Montague; and [4] Mr. Scott Behrens, Lockton Companies.  MORE >>

"For qualified retirement programs ... SECURE 2.0 enabled employers to optionally count Qualified Student Loan Payments (QSLPs) as if they were a regular elective contribution to those plans, and therefore provide an employer matching contribution.... In addition, employers were also given a temporary tool through December 31, 2025 to provide a nontaxable benefit of up to $5,250 ... for not just the usual items of tuition, fees, books, and certain other expenses but also for the repayment of qualified student loans."  MORE >>

"[W]hile many vendors have spoken at length about how they're 'using AI,' it's often unclear exactly how. More importantly, it's unclear what advantages employers and benefits administrators can expect from AI in the coming years.... [Here are] three predictions for how AI will improve benefits administration: [1] Removing friction from incentives ... [2] Boosting employee engagement ... [3] Enhancing employee experience."  MORE >>