"[T]he new amendments [to the QPAM Exemption] ... are some of the most significant changes to the exemption.... [T]he New Fiduciary should have minimal impact on asset managers, even if it survives in its current form.... [This alert] describes certain steps that should be taken to address the QPAM Amendments and the New Fiduciary Rule."  MORE >>

"Both PTEs have provisions on the mitigation of the possible effects of incentive compensation...., [A]ny incentive that causes an advisor or agent to make self-interested recommendations to retirement investors will cause a violation of the Care Obligation beginning this September.... [T]he DOL is clearly signaling that it is particularly concerned about incentives that involve travel."  MORE >>

"The court's summary judgment decision ... may result in an expansion of fiduciary liability for plan sponsors and their duty to monitor hired investment managers.... [At] a minimum, plan sponsors may need to dedicate additional resources to evaluating the proxy votes of the managers of the investment funds in their plans. Depending on the outcome at trial, plan sponsors also may be vulnerable to future challenges by plaintiffs for not seeking to prevent even short-term dips in stock prices, which plaintiffs may claim are traceable in some way to shareholder vote outcomes." [Spence v. American Airlines, Inc., No. 23-0552 (N.D. Tex. February 21, 2024; order setting trial date filed Jun. 5, 2024)]  MORE >>

"[1] What happens to 401(k) assets in a bankruptcy? ... [2] Which agencies can protect workers' retirement savings? ... [3] What is the role of a bankruptcy trustee? ... [4] How are workers at bankrupt companies reunited with their assets?"  MORE >>

"The Colorado SecureSavings Program has formed a partnership with Vermont's public retirement savings program, VT Saves, which will add Vermont to the Partnership for a Dignified Retirement, an interstate consortium of state-run auto-IRA retirement savings programs that also includes Delaware and Maine."  MORE >>

12 pages. "[H]ouseholds holding a greater share of their wealth in guaranteed income spend more each year than retirees who hold more of their wealth in investments. A household with a generous pension and no savings will spend more than a retiree with enough savings to buy an annuity that provides the same income as the pension.... The ability to increase spending is an important reason to consider shifting wealth to guaranteed income[.]"  MORE >>

"Not everyone is fortunate enough to have access to the 'mega' backdoor Roth contribution strategy, but for those that do, it is one of the most powerful ways to supercharge your retirement savings."  MORE >>

"[I]ndividuals and businesses in southern New Mexico that were affected by the South Fork Fire, Salt Fire, and Flooding that began on June 17, 2024 ... 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 Lincoln and Otero counties, and on lands of the Mescalero Apache Tribe qualify for tax relief."  MORE >>

June 27 hearing. Opening statement: Rep. Bob Good (R-VA); Witness: The Honorable Lisa M. Gomez, Assistant Secretary, EBSA.  MORE >>