"[T]he 2024 proposed regulations covered ... [1] Determination of the applicable age for employees born in 1959. [2] Partial annuitization of an individual's account in a defined contribution plan. [3] Distributions from designated Roth accounts. [4] Treatment of corrective distributions following missed RMDs. [5] Surviving spouse's election to be treated as the employee. [6] Effect of divorce after the purchase of a QLAC. [7] Distribution to a trust beneficiary."  MORE >>

"Given the absence of guidance, will the IRS be satisfied with a reasonable, good faith interpretation of the law for 2025? ... Probably, yes ... Does everyone in an existing plan have to be automatically enrolled? Our guess: no.... Can we continue to have EACAs without participant direction of investments? Our guess: maybe not ... Are pre-SECURE 2.0 single employer plans that merge into post-2022 MEPs and PEPs grandfathered? Our guess: no.... What does 'normally employs fewer than 11 employees' mean? Our guess: facts and circumstances, ... If a tax-exempt organization sponsors a deferral-only 403(b) plan that is not subject to ERISA, does MAE apply? Our guess: yes."  MORE >>

"The database can be accessed here. Users of the database should be patient if they are unable to find specific information as the DOL is still building it out and it will take some time before it is complete, despite being launched.... The DOL's fall 2024 agenda says that the regulator expects to issue a Notice of Proposed Rulemaking in July 2025 related to the Lost and Found[.]"  MORE >>

"The ability of a plan sponsor to self-correct an eligible inadvertent failure indefinitely and with no last date appears to broaden the time allowed in the EPCRS' correction process that applies to significant operational failures. However, the reality is that plan sponsors must still diligently identify and correct errors. Plan sponsors should implement established practices and procedures to support compliance with the Code as required by Notice 2023-43 and have an effective process for identifying and correcting operational errors and then documenting the correction efforts."  MORE >>

"The SECURE 2.0 changes have eased some of the burdens of offering relief to employees affected by a disaster, but the decision to offer that relief is still not always an easy one. Employers may choose whether, and to what extent, to adopt these disaster relief provisions. They are not mandatory. Employers will need to weigh an interest in helping its employees who are impacted by a disaster, both economically and emotionally, against the administrative burdens these special relief options may place on their plans."  MORE >>

"Baby boomers are the least likely to use the Roth 401(k), which allows for tax-free withdrawals in retirement. More than a quarter of Gen Xers have a 401(k) loan outstanding. Millennials and Gen Zers could benefit from stepping up their savings rate and reviewing their investment options. The $22,924 Social Security bonus most retirees completely overlook"  MORE >>

"Over the past year, eligible employers that have been in business for at least two years and have five or more employees have been registering for MERIT -- or have claimed an exemption if they offer a qualifying plan. Nearly 2,500 eligible employers have registered with the program throughout 2024[.]"  MORE >>

"[M]ost retired families own an IRA and a home, but very few are considering how they could work together in a plan for retirement income.... This article focuses on a version of this IRA/home combination that defers distributions and lowers taxes and at the same time increases the long-term growth in the account value, liquidity and legacy."  MORE >>

"Despite their inception nearly a century ago, it is only now that CITs are stepping into the spotlight. The industry's hesitance to embrace such proven innovations not only delays participant benefits, but also questions our commitment to serving those who depend on us for their future financial security."  MORE >>

"[T]here are three clear-cut cases that may shape the future of ERISA litigation and ERISA itself: [1] the ongoing litigation in the Fifth Circuit over the DOL's Retirement Security Rule, [2] the Sixth Circuit's Parker-Hannifin case, and the Cunningham v. Cornell University case, which is scheduled for oral arguments before SCOTUS on January 22, 2025.... SCOTUS' decision in the Cornell case will likely impact the ultimate disposition of both of the other two cases." [FACC. v. DOL, No. 24-0163 (E.D. Tex. Jul. 25, 2024); ACLI v. DOL, No. 24-0482 (N.D. Tex. Jul. 26, 2024); Johnson v. Parker-Hannifin Corp., No. 24-3014 (6th Cir. Nov. 20, 2024); Cunningham v. Cornell Univ., No. 21-0088 (2d Cir. Nov. 14, 2023; cert. pet. granted Oct. 3, 2024)]  MORE >>

"[S]everal professional and governmental studies (by the AICPA, GAO, and DOL) have shown audit quality problems with employee benefit plans ... To resolve these matters, the AICPA and GAO could [1] require annual reviews; [2] impose stricter punishments on firms and partners with repeated violations; or [3] disclose violator's names to their state boards of accountancy, other regulators, and other key parties. If deficiencies do not decrease, the authors believe that the U.S. Congress should consider having the GAO and DOL oversee peer reviews of audits of ... employee benefit plans."  MORE >>