"Under the QPAM exemption [PTE 84-14], any entity that relies on the exemption must notify the [DOL] of its reliance on the exemption. [This page provides] an alphabetical list as of September 30, 2024, of every entity that has notified the [DOL] that they currently rely on this exemption or may in the future. This list will be periodically updated ... The [DOL] has not verified whether any of these listed entities meet the exemption's requirements."  MORE >>

"[Notice 2024-63] takes the first step into providing needed guidance to facilitate implementation of this new feature, and seeks comments on additional issues that may come with pending proposed regulations."  MORE >>

31 pages. "Congress has shown interest in changing Social Security retirement and survivor policies to encourage older individuals to work longer and postpone claiming Social Security benefits.... Policymakers and researchers have suggested some possible approaches that could accompany those policy changes and might offer certain income protections to vulnerable older adults." [R48232 Oct. 16, 2024]  MORE >>

"Salesforce will pay $1.35 million to more than 50,000 class members in two Employment Retirement Income Security Act (ERISA) cases. Employees alleged that Salesforce, its board, and its investment committee violated their fiduciary duties under ERISA to the company retirement plan and its participants by choosing expensive investment options and underperforming funds." [Miguel v. Salesforce.com Inc., No. 20-1753, and Simonelli v. Salesforce.com Inc., No. 24-0813 (N.D. Calif. settlement order Oct. 11, 2024)]  MORE >>

"The aggregate funded ratio for U.S. state pension plans increased by an estimated 5.4 percentage points during the third quarter of 2024 to end the quarter at 89.1% ... The aggregate funded ratio is estimated to have increased by 9.2% and 15.1% year-to-date and over the trailing twelve months, respectively."  MORE >>

"[PBGC] has approved the application submitted ... by the Carpenters Pension Trust Fund -- Detroit & Vicinity. The plan, based in Troy, Michigan, covers 22,576 participants in the construction industry. The Detroit Carpenters Fund will receive approximately $635 million in special financial assistance ... The plan was projected to become insolvent and run out of money in 2033."  MORE >>

"Although we appreciate that the Revised ICR reflects several changes ... we reiterate in this letter the continuing and more fundamental need for the department to issue workable guidance for plan sponsors regarding missing and unresponsive participants of ongoing plans. We also reiterate our concerns with the challenges that we believe will inevitably result from the voluntary approach the department is taking in establishing and populating the Lost and Found. "  MORE >>

"Bitcoin as an asset offers a rich and multifaceted ecosystem of information to anyone who takes the time to look deeper. But considering Bitcoin's price volatility, no matter how positive the view, it is rational for institutions to ask how to allocate in a way that is prudent and strategic -- and compatible with their governance requirements and plan objectives."  MORE >>

"[P]ublic pension plans in the U.S. continue to improve their funding statuses.... The fees generated by 401(k) accounts yield billions for Wall Street firms. Pension systems pay far less because they demand lower fees in exchange for allowing firms to manage their large, billion-dollar portfolios."  MORE >>

"The DOL's reissued cybersecurity guidance should remind plan sponsors, fiduciaries and service providers of all ERISA plans of the critical importance of safeguarding plan assets and plan data against cybersecurity threats. Additionally, ERISA plan stakeholders should continue to maintain awareness of the ever-changing legislative and regulatory landscape."  MORE >>

"For 2025, that amount will be $176,100 (up from $168,600 for 2024).... Some 401(k) plans that provide for profit-sharing contributions use the Social Security taxable wage base for their permitted-disparity allocation formulas. The taxable wage base also impacts certain fringe benefits and is relevant when determining the tax savings from a cafeteria plan."  MORE >>

"A profits interest is an interest in a partnership, granted in exchange for services, that gives the recipient the right to future appreciation or profits of the company. Unlike a capital interest, which provides a right to share in the current value of the company, a profits interest entitles the recipient only to the company’s future gains.... Similar to restricted stock, profits interests are often subject to restrictions, meaning they are typically non-transferable and at risk of forfeiture until they vest."  MORE >>