"While final guidance is still needed in some areas, the Treasury and the IRS have issued sufficient guidance for recordkeepers to be able to administer the numerous plan design options SECURE 2.0 made available to DC plan sponsors.... [1] Emergency funds ... [2] Student debt payment ... [3] Catch-up contributions ... [4] Matching and employer contributions as Roth contributions ... [5] Automatic enrollment ... [6] Self-correction and overpayments ... [7] Long-term, part-time employees."  MORE >>

"You have probably become used to being assaulted by legal and regulatory changes that you need to address for your retirement plan.... Several issues are waiting for you in 2025, either because they are truly effective then, or because government guidance has been issued that makes an option available to you now.... [Here is] a quick summary of what is lurking around the corner for 2025 that may need your attention."  MORE >>

"The IRS has issued its 2024 Required Amendments List for individually designed qualified retirement plans (including 401(k) plans) and 403(b) plans.... Part A lists no 2024 changes. Part B lists two items: provisions relating to rural electric cooperative retirement plans and changes in the family attribution rules made by the SECURE 2.0 Act. Part C is the most extensive, listing numerous optional plan provisions and relevant IRS guidance."  MORE >>

"The court emphasized the necessity of context-specific allegations to support claims of excessive fees. Plaintiffs’ comparisons were deemed lacking as they failed to detail the specifics of the recordkeeping services provided to the Deloitte plan versus those of the comparator plans.... The decision also highlighted Plaintiffs’ reliance on outdated and irrelevant benchmarks, such as past market surveys, which did not provide a meaningful comparison to the services rendered during the class period in question." [Singh v. Deloitte LLP, No. 23-1108 (2d Cir. Dec. 10, 2024)]  MORE >>

"DOL supports the plaintiffs' position that it was unreasonable for the defendants to use mortality assumptions from the mid-1900s to convert the plaintiffs' SLA benefits into their actuarial equivalent QJSA benefits -- an actuarial assumption that did not 'reasonably approximate the SLA benefits participants would have received over their actual lives' -- in violation of ERISA's actuarial equivalence requirement, its nonforfeiture provision ... as well as its fiduciary standards provision ... DOL argues that the district court departed from 'virtually every other court to consider the question.' " [Drummond v. Southern Company Services, Inc., No. 22-0174 (N.D. Ga. Jul. 30, 2024; on appeal to 11th Cir. No. 24-12773, DOL amicus brief filed Dec. 4, 2024)]  MORE >>

"By including a loan option, your employees may perceive the plan design as a suggestion to use 401(k) assets for nonretirement reasons, known as the endorsement effect. These design tips are intended to provide participant education, avoid the endorsement effect, lower the balance of outstanding loans and prevent loan defaults, regardless of employees' job stability."  MORE >>

"Plans that follow best practices for keeping their employees' beneficiary information up to date can help ensure the smooth transition of their assets to their intended recipients."  MORE >>

"[T]he SEC is focusing on advice to retirees and older investors, as reflected in the 2025 Examination Priorities.... This reflects a policy concern that older investors are in a category where abuses could be more likely and that therefore warrants special focus for examination.... Broker-dealers and investment advisers should review and consider augmenting their policies, practices and supervision for services to older investors and retirees."  MORE >>

"What do we know about crypto investments in 401(k)s? ... What's being done to protect investors and their 401(k) investments? ... What more could be done to improve monitoring of crypto assets?"  MORE >>

"Morningstar Inc. has lowered what the investment research firm considers a safe retirement savings withdrawal rate for new retirees based on a 30-year outlook.... Morningstar researchers considered forward-looking asset class returns and inflation assumptions for new retirees, excluding what they may be getting from Social Security or other nonportfolio income sources such as a company pension."  MORE >>

"This retirement industry landscape map offers a clear, comprehensive view of 60 digital-forward companies tackling the biggest challenges in workplace retirement. Organized into nine focus areas, our map highlights industry innovation and helps stakeholders see where these solutions fit within the broader retirement ecosystem."  MORE >>

"Retirement Plans: Plan sponsors should engage in conversations with their recordkeeper about implementation of the many optional provisions under SECURE 2.0.... Though SECURE 2.0 plan amendments are not due until December 31, 2026, plan sponsors should update the plan's summary plan description to include any SECURE 2.0 changes already in effect.... Health and Welfare Plans: [HIPAA] reproductive healthcare rights ... Section 408(B)(2)(b) fee disclosures ... Mental health parity ... Cybersecurity."  MORE >>

23 pages. "The IRS, [PBGC], Social Security Administration (SSA), and [CMS] have issued 2025 cost-of-living adjustments (COLAs) for retirement, health and fringe benefit plans; Medicare; and Social Security and Supplemental Security income (SSI). Puerto Rico's Treasury Department has not yet announced 2025 limits for retirement plans qualified in Puerto Rico, but those figures are tied to US limits."  MORE >>