Jan. 2025. "For Forms W-2, W-2G, 1042-S, 1095, 1097, 1098, 1099, 3921, 3922, and 5498...  Do not use this form to request an extension to file information returns with the IRS (use Form 8809)."  MORE >>

Rev. Dec. 2024. "Use Form 8915-F for 2021 and later disasters. Also, use it after 2020 for coronavirus-related and other 2020 disasters instead of Form 8915-E."  MORE >>

"[T]he court found the plan language unambiguous in providing benefits for workers in the optional retirement class who lost their employment with Historical DuPont for reasons other than cause.... The court also ruled in plaintiffs' favor on Count IV, their breach of fiduciary duty claim, finding that 'Defendants did not inform Class Members how the spin-off would affect their benefits in a manner that a reasonable employee could understand,' and therefore defendants breached their fiduciary duties." [Cockerill v. Corteva, Inc., No. 21-3966 (E.D. Pa. Dec. 18, 2024) ]  MORE >>

"Between 2018 and 2023, plan participants who did not fully vest forfeited about $349 million in matching funds, according to the lawsuit. Instead of using that money to cover administrative fees for the plan, which totaled more than $18 million during that period, Amazon used it to reduce its own matching contributions, Curtis alleged in the complaint." [Curtis v. Amazon Inc., No. 24-2164 (W.D. Wash. complaint filed Dec. 30, 2024)]  MORE >>

"[The] lawsuit ... alleges Verizon and SSGA violated their fiduciary duties under [ERISA] by obtaining the 'cheapest available annuity provider' as opposed to the 'safest available' annuity provider as required by Interpretive Bulletin 95-1.... The lawsuit also alleges Verizon and SSGA purchased 'substandard annuities' which are 'heavily dependent upon transactions with affiliates that are not transparent and expose plan participants to unreasonable amounts of risk and uncertainty.' " [Dempsey v. Verizon Comm. Inc., No. 24-10004 (S.D.N.Y. complaint filed Dec. 30, 2024)]  MORE >>

"According to the abstract filed with OMB, the VFCP is designed to encourage the voluntary correction of fiduciary violations by permitting persons to avoid potential civil actions and civil penalties if they take steps to correct identified violations in a manner consistent with the VFCP."  MORE >>

"The ongoing fiduciary requirement that plan sponsors benchmark their retirement plans to ensure they maintain competitive offerings can—and probably should—be more nuanced than merely looking at costs and investment performance. Attorneys and advisers see benefits in digging deeper to find better ways to analyze how each retirement plan is meeting its goals. At a time when automatic features abound, measuring a plan’s success in engaging plan participants must necessarily go beyond tracking plan participation rates."  MORE >>

"[As] life circumstances change over time, tools like permanent life insurance may no longer meet an individual's needs. And while other strategies like taking a policy loan or simply surrendering the policy might be viable in some circumstances, a 1035 exchange into an annuity can be a more tax-efficient way to access the policy's underlying value when the need for life insurance is replaced by a need for retirement income."  MORE >>

"In 2023, the national aggregate funded ratio for public pensions was 76%, excluding unfunded health and lifestyle benefits, which now surpass pension debt.... This article shares figures  ... [from] a project to aggregate municipal financial statements to shed light on and compare the financial positions of states, cities, counties, and school districts."  MORE >>

"You have to trust the work you've already done -- whether it's saving half your income, living modestly or building multiple streams of income.... If you're done waiting but aren't sure what final steps to take, this monthly early retirement checklist is for you. By January 1, 2026, you can ceremoniously update your LinkedIn profile headline to include one very satisfying word: 'former.' "  MORE >>

"As of this year's research, 3.7% was the highest that you could have taken. That highest safe withdrawal rate over the 30-year horizon corresponds with a fairly low equity weighting of just 20% to 50%. Retirees who want to spend more can explore flexible or dynamic withdrawal strategies."  MORE >>

Rev. Jan. 2025. "Form 8868 includes the extension of time to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans. If approved, you may be granted an extension of up to 6 months after the normal due date for Form 5330." [Also available: IRS Form 8868, rev. Jan. 2025]  MORE >>