"[M]ajor provisions of [the final rule] include ... [1] Modernizing the interest assumption structure by adopting a yield curve approach. [2] Enabling the use of market interest rates as of the date of liability measurement (i.e., the valuation date) as the basis for the interest assumption. [3] Increasing transparency by using a procedure based on publicly available yield curves as of the valuation date. [4] Adopting a more recent mortality table along with a generational mortality improvement projection Simplifying the expense assumption."  MORE >>

"The plaintiffs will argue that defaulters are less engaged participants in their investments and will not provide additional data points needed to customize their portfolio. Without the additional data points, a managed account is essentially a target date fund ... As a result, the investment returns from the higher-cost managed account are no different from low-cost target date funds and, therefore, inappropriate to be used as the default option." [Hanigan v. Bechtel Global Corp., No. 24-0875 (E.D. Va. complaint filed May 24, 2024)]  MORE >>

"Access to financial advisors linked to retirement planning remains high priority. Retirement and financial planning support top list of retirement benefits employees think will help them meet financial goals. Companies recognize that employees need additional retirement planning support."  MORE >>

Infographic. "Plans with larger average account balances will pay lower fees as a percentage of total assets. You should take your plan's average account balance into consideration when you are benchmarking fees."  MORE >>

"The tax advantages of variable annuities are amplified when holding tax-inefficient investment options ... When income is generated from a variable annuity using annuitization, the investor obtains meaningfully higher income after a deferred investment period than what can be safely obtained from a mutual fund portfolio. By maximizing income using a deferral and annuitization strategy for a portion of client assets, more aggressive investment of the remaining assets is possible, driving higher overall asset growth over time."  MORE >>

"Asked what clients' top three priorities are for this year, 88% cited evaluating retirement income solutions (up from 67% in the previous year's survey). Navigating new regulations (76%) and reviewing managed accounts (44%) were the next common responses among 10 choices. At year-end 2023, consultants reported that 28% of clients actively sought to retain participants' accounts -- double the rate in 2014."  MORE >>

"[This] overview covers ... [1] Requirements and conditions for SFA and plan assets. [2] Restrictions on benefit increases. [3] Restrictions on contribution decreases and diversion. [4] Withdrawal liability."  MORE >>

"In state budget plans that threaten the state's long-term financial stability and the retirement security of current and retired teachers, Gov. Gretchen Whitmer and the Michigan House of Representatives have proposed redirecting over $630 million in annual payments away from the state's underfunded public school employees' pension plan to other spending priorities."  MORE >>

"[I]ndividuals and businesses in Iowa that were affected by severe storms, tornadoes, and flooding that occurred on May 20, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Adair, Montgomery, Polk, and Story counties qualify for tax relief."  MORE >>