42 pages. Schedule P instructions updated July 17, 2024 to reflect changes to the ERISA 4044 regulation (i.e., assumptions used to determine benefit liabilities to be reported on Schedule P for plan years ending July 1, 2024 or later).  MORE >>

For PBGC-insured single-employer defined benefit plans terminating on or after January 1, 2018. 28 pages. Updated July 17, 2024 to reflect changes to the ERISA 4050 regulation affecting the assumptions used to determine certain Benefit Transfer Amounts for Benefit Determination Dates on or after July 31, 2024.  MORE >>

For small professional service defined benefit plans terminating on or after January 1, 2018. 28 pages. Updated July 17, 2024 to reflect changes to the ERISA 4050 regulation affecting the assumptions used to determine certain Benefit Transfer Amounts for Benefit Determination Dates on or after July 31, 2024.  MORE >>

For PBGC-insured multiemployer defined benefit plans that closed out on or after January 1, 2018. 27 pages. Updated July 17, 2024 to reflect changes to the ERISA 4050 regulation affecting the assumptions used to determine certain Benefit Transfer Amounts for Benefit Determination Dates on or after July 31, 2024.  MORE >>

"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 >>

"While DOL has issued a long line of exemptions for captive insurance involving group life, disability, and other welfare benefits, this is the first proposed exemption covering pension risks -- which typically are more complex and involve large dollar amounts. [This alert reviews] the key benefits of captive insurance, the pattern of DOL exemptions for group welfare benefit captives, and the key conditions of the new proposal involving pension annuity risks."  MORE >>

"This article discusses the requirements in NAIC Model Regulation #275 and the similarities and differences between the Model Rule and the PTE requirements."  MORE >>

"[SECURE 2.0] added two new exemptions from [the] 10% additional tax ... If the plan does not offer these distributions, the participant is permitted to treat an otherwise permissible distribution under the plan as exempted to avoid the 10% additional tax."  MORE >>

"This case is a significant win for the plan sponsors and fiduciaries who continue to defend their fiduciary process in similar litigations and serves as a model for fiduciary prudence in investigating and selecting investments and monitoring the plan's payment of recordkeeping fees." [Silva v. Evonik Corp., No. 20-2202 (D.N.J. Jun. 28, 2024)]  MORE >>

28 pages. "This paper ... [discusses] [1] how to measure transferred and retained risk, and [2] how the use of median and average benefits and discount rates can be used to determine liabilities.... The discussion herein focuses on issues related to these programs for private sector, multiemployer defined benefit plans."  MORE >>

"Depending on your beneficiary profile, tax-deferred growth can continue for up to 10 years -- more for some beneficiaries. However, using the wrong method to move your inherited account will result in unintended distributions and cause you to lose opportunities for tax-deferred growth."  MORE >>

"A second month of positive growth in public pension assets during June 2024 slightly increased the estimated funded status of the 100 largest U.S. public pension plans from 79.4% as of May 31, 2024, to 79.9% as of June 30, 2024[.]"  MORE >>

"EBP sponsors often use third-party service organizations to perform administrative functions. Terms that auditors may be required to agree to before gaining access to materials needed for the audit may be included in NDAs, confidentiality agreements, business associate agreements, and data protection agreements. The EBPAQC letter details nine examples of potentially troublesome provisions that auditors may be asked to accept in the process of accessing a service organization's portal in order to obtain data needed to perform an ERISA audit."  MORE >>

"[I]nconsistencies are most often classification or timing differences resulting from inconsistent use of the cash and the accrual methods of accounting. When inconsistencies indicate that there is an error, then the misstatements should be corrected if they are material. One would expect the application of the accrual basis to be defined consistently by the Generally Accepted Accounting Principles (GAAP) and the Form 5500 instructions, but there are many differences worth noting"  MORE >>