"2024 is the first year that clients can roll 529 plan assets into a Roth IRA. This option should give clients peace of mind about 'committing' to a 529 plan ... Questions remain on how the lifetime rollover limit and 15-year rule apply if the beneficiary is changed."  MORE >>

"SECURE 1.0 laid the groundwork for PEPs by allowing for their establishment and easing regulatory burdens for plan sponsors. Key provisions included: Increased Access ... [and] Fiduciary Relief ... SECURE 2.0 introduced several optional provisions designed to further incentivize participation in retirement savings plans, particularly through PEPs."  MORE >>

"The Sixth Circuit's decision is a reminder that it is not just the employer that has withdrawn from a multiemployer pension plan that may owe withdrawal liability, but under certain circumstances, its owners, their spouses, and affiliated companies as well." [Local No. 499, Bd. of Trs. of Shopmen's Pension Plan v. Art Iron, Inc., No. 22-3925 and 22-3926 (6th Cir. Sep. 26, 2024)]  MORE >>

77 pages. "More than four in five retirees (86%) cite positive word associations with the word 'retirement,' while 37% cite negative word associations.... Their top two priorities in life are enjoying life (70%) and being healthy and fit (67%).... Most retirees (65%) say their standard of living has stayed the same since retiring.... More than one in three retirees (37%) are currently serving and/or have served as a caregiver for a family member or friend since retiring[.]"  MORE >>

"Perhaps more important today than in recent memory, investment portfolios need to be built for resilience across a range of outcomes. To navigate this challenging environment, some investors seek more tactical approaches, such as moving up the risk/return curve or increasing allocations to fixed income products. These options may be suitable depending on one's investment goals or risk appetite, but both bring added investment or volatility risk."  MORE >>

"During October, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 101.7% of a plan's accounting liabilities (accumulated benefit obligation, or ABO) to 101.2% of those liabilities.... During the same time period, the average annuity purchase cost across all insurers in our index also decreased, from 104.4% to 103.9%. "  MORE >>

"[PBGC] has approved the application submitted ... by the International Longshore and Warehouse Union Employers' -- Warehousemen's Pension Plan. The plan, based in Los Angeles, covers 1,821 participants in the manufacturing industry.... [and] will receive approximately $41.5 million in SFA ... The plan was projected to become insolvent and run out of money in 2037."  MORE >>

"In contrast to the state of play of the legal rules and their interpretation, a more common thread from administration to administration has been that basic enforcement efforts continue apace. Regardless of whether any particular current administration is perceived as pro- or anti-business, the DOL has continued to pursue the interests of participants and beneficiaries who are faced with allegedly noncompliant plan sponsors, allegedly breaching fiduciaries and the like."  MORE >>

"EBSA Disaster Relief Notice 2024-01 -- extends the time for plans to furnish ERISA-required notifications, including SPDs, SMMs, and benefit determinations ... Final Regulations -- delays/suspends participant COBRA, HIPAA special enrollment, and claims/appeal-related deadlines, as well as the deadline for the plan administrator to provide the COBRA election notice. FAQs for Participants and Beneficiaries -- help participants impacted by the hurricanes/tropical storm understand their rights under ERISA.... Insurance Standards Bulletin ... encourages non-federal governmental plans and health insurance issuers offering group or individual health insurance coverage to also extend the participant deadlines and provides non-enforcement relief."  MORE >>