"[T]he IRS clarified that certain non-spouse IRA beneficiaries are in fact required to take annual RMDs from their inherited account each year and other beneficiaries are not. Although these rules can be complex, they generally follow the proposed rules that were issued in 2022."  MORE >>

"Bank of America ... now joins firms like Tetra Tech Inc., Honeywell, Thermo Fisher Scientific Inc. 401(k) Retirement Plan, Clorox, Intel, Qualcomm, Intuit and HP ... The suit alleges -- as do the others -- that 'as part of a wrongful pattern and practice, Defendants have wrongfully and consistently used forfeited nonvested plan assets for its own benefit, to reduce future employer contributions, rather than for the benefit of Plan participants.' " [Becerra v. Bank of Am. Corp., No. 24-1697 (C.D. Calif. complaint filed Aug. 9, 2024)]  MORE >>

"For investors under age 55, we estimate that the long-term benefit of investing in a target-date fund (versus staying in cash) upon rollover is equivalent to, on average, an increase of at least $130,000 in retirement wealth at age 65. Enabling an IRA qualified default investment alternative (QDIA) could deliver approximately $172 billion in long-term benefits to all rollover investors in retirement each year."  MORE >>

"Although this survey mainly explores economic assumptions, [it includes] data regarding mortality assumptions, which are receiving closer attention because of increasing longevity.... The year-on-year changes of expected rates of return assumptions have remained fairly stable, ranging from -28 bps to +58 bps."  MORE >>

"[E]xpected returns declined significantly for all but a few asset classes from 2016 to 2022. The steepest declines were for fixed income investments such as US corporate bonds and Treasuries, whose return expectations fell more than 100 basis points from 2019 to 2021. We saw a reversal of this trend in 2023 resulting from increases in interest rates and lower equity valuations at the end of 2022. This 2024 edition of the survey brings only modest change versus 2023, with slightly higher return expectations for some asset classes and slightly lower expectations for other asset classes"  MORE >>

"[T]he 11th Circuit's decision not t o shift the burden on the issue of causation is questionable for more than just its reliance on its Willett decision. The 11th Circuit rejected prior rulings citing the informational edge held by plan sponsors.... In rejecting Plaintiff's burden shifting argument, the 11th Circuit denied the existence of an 'informational advantage' in favor of plan sponsors ... [T]he Court's argument is misleading. Furthermore, the facts in this case itself, and Home Depot itself, nullify the Court's argument." [Pizarro v. Home Depot, No. 22-13643 (11th Cir. Aug. 2, 2024)]  MORE >>

"[I]ndividuals and businesses in Minnesota that were affected by severe storms and flooding that began on June 16, 2024 ... now have until Feb. 3, 2025 to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Blue Earth, Carver, Cass, Cook, Cottonwood, Faribault, Fillmore, Freeborn, Goodhue, Itasca, Jackson, Lake, Le Sueur, Mower, Murray, Nicollet, Nobles, Pipestone, Rice, Rock, St. Louis, Steele, Wabasha, Waseca, and Watonwan counties qualify for tax relief."  MORE >>

"[1] Vacating the Rule is the 'default' remedy. ... [2] States can take care of non-competes themselves.... [3] Equity favors nationwide relief"  MORE >>