"These yield curves serve as the interest assumption when determining the present value of annuities in involuntary and distress terminations of single-employer plans. They are also used for other purposes, including: 4010 reporting; certain withdrawal liability calculations; and multiemployer plans' determination of unfunded vested benefits under Section 4213(c) of ERISA, for determining withdrawal liability and the amortization schedule under Section 4219(c)(1)(A) of ERISA."  MORE >>

17 pages. "The purpose of this article is to update [the authors'] 2022 article to reflect the 2024 Amendments so that investment managers, compliance personnel, and others understand [1] the prohibited transaction provisions and the need to utilize prohibited transaction exemptions like the QPAM Exemption to address them, [2] the meaning of the term 'qualified professional asset manager' (QPAM), [3] the key conditions of the exemption, [4] the implications of a QPAM's disqualification by reason of certain criminal convictions and other prohibited misconduct, [5] and some issues that may arise when utilizing the QPAM Exemption."  MORE >>

"Because of the court orders, the current standard for determining whether a financial professional is acting as a fiduciary under ERISA and the Internal Revenue Code in connection with providing nondiscretionary advice remains the five-part test from the DOL's 1975 regulation."  MORE >>

"This court determined that the arbitration agreement at issue was a 'prospective waiver of the substantive rights and remedies' under ERISA -- and therefore unenforceable under the 'effective vindication' doctrine. The issue of arbitration clauses -- and particularly those incorporated in the plan document -- remain uncertain waters[.]" [Pover v. Capital Grp. Cos., No. 23-9657 (C.D. Calif. Aug. 12, 2024)]  MORE >>

"The Missouri rules, which took effect on July 30, 2023, required financial professionals who consider 'a social objective or other nonfinancial objective' ... in their investment advice to disclose this to their clients and obtain their clients' written consent to state-mandated language in the rules.... U.S. District Judge Stephen Bough issued a statewide permanent injunction halting the rules." [SIFMA v. Ashcroft, No. 23-4154 (W.D. Mo. Aug. 14, 2024)]  MORE >>

"This lawsuit follows a host of similar suits filed in the last year. Motions to dismiss the complaints in these cases have largely focused on the terms of the plans at issue, whether decision-making regarding the use of forfeited funds is a settlor or fiduciary activity, and whether the alleged misconduct resulted in any cognizable losses. Thus far, decisions on these motions have been mixed."  MORE >>

"Participants concerned about outliving their savings were much more likely to be concerned about this, at 90% versus 49%. Those with incomes below $170,000 were more apt to be very concerned, at 42% versus 21% of those with incomes at or above that level.... Fewer than half -- 44% -- indicated that they had calculated how much they needed to save to last throughout retirement, which is down slightly from the 47% who said so in 2021. I"  MORE >>

"With a third consecutive month of positive investment returns in July, public pension plan asset growth continues to outpace liability growth. The estimated funded status of the 100 largest U.S. public pension plans moved from 79.9% as of June 30, 2024, to 80.8% as of July 31, 2024[.]"  MORE >>

"[S]ome common -- and dangerous -- assumptions that individuals make when planning for retirement: [1] Stock and bond market returns will be robust. [2] Inflation will be benign. [3] You will be able to work past age 65. [4] You will receive an inheritance."  MORE >>

"The threshold of one million pensions protected was crossed after the [PBGC]'s (PBGC) recent approval of SFA to three large funds -- the 103,056-member Bakery and Confectionary Union and Industry Pension Fund, the 72,141-member New England Teamsters Pension Fund, and the 49,180-member American Federation of Musicians and Employers Pension Plan."  MORE >>

"This article examines and analyzes six major changes enacted by the SECURE 2.0 Act of 2022 pertaining to current plan participants in retirement plans.... These provisions vary considerably in their connection to the principal purpose of employer-provided retirement plans ... [T]hey continue the pattern of recent years of using pension plans to accommodate an ever-widening array of social initiatives that are related only tangentially, if at all, to providing income when plan participants retire."  MORE >>

"[1] Tell a compelling benefits story ... [2] Bring benefits to life with realistic scenarios ... [3] Pull in employee testimonials ... [4] Make messages relevant ... [5] Dust off your delivery method."  MORE >>