Updated Jul. 16, 2024 to explain and provide examples of securities included in large, aggregate U.S Bond index funds that meet the criteria for permissible investment grade fixed income (IGFI) securities. Answers updated:  [1] Will PBGC identify whether a particular asset class, sub-asset class, fund structure, or investment strategy is permissible before a plan invests? [2] What is a 'Rule 144A' security? How are 'Rule 144A' debt securities, which are permissible RSA under the SFA regulation, different from private credit, which isn't a permissible investment?  MORE >>

"The IRS currently has one authorized Form 5330 e-file provider. As a result, the IRS has determined that filers are not required to file Form 5330 electronically for the 2023 taxable year. Filers should document that the lack of authorized vendors is the reason for filing a paper Form 5330 instead of filing electronically."  MORE >>

"RetireReady NJ is a Roth IRA. Employers must offer it to employees through payroll deduction unless they have an alternative plan. Contributions are made by the employee, not the employer. The default rate is 3%, but can be as little as 1% or 100%."  MORE >>

"This case is a class action brought by Plaintiffs against multiple defendants associated with Fringe Benefit Group for the mismanagement of funds the class members contributed through their employer. The district court granted class certification under Rule 23(b)(1) and 23(b)(3). Defendants appealed. The Fifth Circuit affirmed the district court's certification under Rule 23(b)(3) but reversed the certification under Rule 23(b)(1)." [Chavez v. Plan Benefit Servs., Inc., No. 22-50368 (5th Cir. July 15, 2024)]  MORE >>

"MEPs involve less administrative burden and fiduciary responsibilities than a stand-alone plan, and -- in theory -- could be cheaper. But few firms know about MEPs, some fiduciary tasks remain, exiting a MEP may be difficult, and MEPs can make mergers and acquisitions harder."  MORE >>

"Out of an abundance of caution, one pooled plan provider (PPP) recently announced that it had registered with the [SEC] (SEC), but whether all PPPs are required to register appears to come down to a 'facts and circumstances' test."  MORE >>

"[The authors] analyze a new illustrative policy to create automatic retirement savings accounts for more than 56 million low-income Americans ... The program is fully financed by removing the gross income adjustment for traditional 401k and similar retirement accounts without any additional contribution from households or employers.... After accounting for risk, individual account balances reach over $200,000 by retirement and any balances can be bequeathed upon death."  MORE >>

"The ICI ... released research showing a steady, multi-decade decline in 401(k) plan equity mutual fund fees resulting in a 60% drop since 2000 to an average of 0.31%. Meanwhile, fees for 401(k) plan bond mutual funds fell 63% to 0.22% and fees for a hybrid of both equity and bonds fell 42% to 0.42%."  MORE >>

"Since 2020, the segment of platform sponsors that report having achieved a single platform architecture has increased from 14% to 30%, while those indicating ongoing stasis in a multi-platform environment has fallen from 32% to 20%.... When asked about the expected length of a platform consolidation process, the majority of respondents (60%) cite an expectation of at least two years."  MORE >>