"[IRS Announcement 2024-38 includes:] [1] Opinion letters for Cycle 2 Section 403(b) pre-approved plans issued by November 29, 2024 ... [2] Deadline for adopting a Section 403(b) pre-approved plan under Cycle 2 ... [3] Determination letters for Cycle 2 Section 403(b) pre-approved plans ... [4] Procedural restatement rule for all pre-approved plans."  MORE >>

"On November 18, 2024, the [DOL announced] it has started accepting information from retirement plan administrators and authorized service providers of ERISA-covered plans on a voluntary basis to populate the new Retirement Savings Lost and Found database and expects it to go live for public use by December 29, 2024.... The notice was accompanied by a DOL News Release and Fact Sheet on the subject."  MORE >>

"The SECURE Act 2.0 required that 'new' 401(k) and private sector 403(b) plans automatically enroll their eligible employees, but not until plan years beginning after December 31, 2024 ... [It] is likely that some of the affected plan sponsors will fail to automatically enroll their eligible employees on a timely basis.... This article discusses corrections for those failures if they did not result from a 'reasonable administrative error' or if they were not corrected on a timely basis."  MORE >>

"This report examines [1] the presence of crypto asset investment options in 401(k) plans, [2] the potential effects of crypto assets on participant savings, [3] how fiduciaries meet ERISA responsibilities when offering crypto assets in 401(k) plans, and [4] the extent of federal oversight of crypto asset investment options in 401(k) plans." [GAO-25-106161 pub. Nov 19, 2024, rel. Dec 04, 2024]  MORE >>

"49% of retirees forego a formal withdrawal strategy, opting to take what they need as they go. 22% draw down their savings using a systematic process based on a fixed annual percentage ... 46% say their 401(k) provider offered minimal or no resources on decumulation strategies as they approached retirement.... 53% of respondents tap Social Security before any other sources of savings or income.... 39% say healthcare costs don't play a significant role in their withdrawal strategies, while 37% note it is a significant or minimal factor."  MORE >>

"Some theorize that a pension system's sheer size would give it more bargaining power and the ability to negotiate better management fees -- a matter where every basis point matters. However, a closer look at data over the past two decades years reveals that asset size is not meaningfully related to investment performance."  MORE >>

"Group health plans: HIPAA and reproductive health care ... Gag clause attestation ... MHPAEA and the fiduciary certification ... HDHPs, HSAs, and telehealth ... 401(k) plans and 403(b) plans: Elective deferral eligibility for long-term, part-time employees ... 401(k) plans, 403(b) plans, and governmental 457(b) plans: Increase in catch-up limit for individuals aged 60-63 ... 12-month time frame to allocate forfeitures."  MORE >>

"Manufacturing and construction industries face unique workforce challenges, including a high turnover rate and safety concerns. Offering competitive benefits like comprehensive health insurance, retirement plans, and flexible scheduling can help attract and retain top talent."  MORE >>

"Section 83(b) elections can provide significant tax benefits for those receiving equity that is subject to vesting, but they must be carefully considered and executed within the required time frame. If filing a Section 83(b) election is advantageous, taxpayers should consider using Form 15620 to ensure that all applicable requirements of a Section 83(b) election are satisfied."  MORE >>

"Form 15620 provides a uniform format for filing Section 83(b) Elections, offering an alternative to submitting a written statement using sample election language provided in Revenue Procedure 2012-29 ... While the IRS still requires that the Form 15620 be filed via mail ... the IRS is expected to support electronic filing eventually.... Form 15620 provides clear guidance on required information[.]"  MORE >>