"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

"The new version [of the Voluntary Fiduciary Correction Program (VFCP)] ... makes a number of important changes ... The underlying methodology of calculating the correction itself is the same.... [T]he submission [to DOL] hasn't been eliminated. It's been changed (actually added to since the existing option is still available). This table summarizes the key differences."  MORE >>

"Retirement plan fiduciaries now have an option to help manage small benefit amounts owed to individuals who cannot be located ... Under [a new EBSA enforcement relief policy], the department will not take action under the fiduciary duty provisions of [ERISA] against fiduciaries who transfer entire benefit payments owed to missing participants of $1,000 or less to state unclaimed property funds, if certain conditions are met."  MORE >>

"Under newly proposed regs, employers offering catch-up contributions wouldn't be required to offer the new supersize option for 60- to 63-year-olds. Plans with no Roth option could allow no catch-up contributions at all.... Starting in 2026, catch-up contributions for those earning more than $145,000 per year will have to be done after taxes to a designated Roth account."  MORE >>

"The proposed regulations make clear that the mandatory Roth catch-up provision will entail significant administrative complexity for employers and plan administrators, whether or not the plan offers a qualified Roth contribution program. Moreover, although the increased catch-up provision is an optional design change, plan sponsors have encountered a number of important considerations regarding implementation. Both require plan sponsors to coordinate with payroll, third-party administrators, and other stakeholders, and to work with counsel to ensure compliance with the legal requirements based on their particular circumstances."  MORE >>

"For pension funds covered by the [PBGC's] insurance programs, annual premiums have generally been due on the 15th day of the tenth month during that pension fund's plan year, but a provision in the Bipartisan Budget Act of 2015 seems to accelerate that due date by one month -- beginning with 2025 plan years -- but only for 2025 plan years."  MORE >>

"The purpose of the Database is two-fold: (1) to allow individuals to search for the contact information of any retirement plan from which they may be owed benefits (as either a participant or a beneficiary); and (2) to allow the Department of Labor to have access to retirement plan information to assist individuals with their searches for “lost” retirement savings. The Database is now live for retirement plans data submissions and individual searches."  MORE >>

"Many individuals may not even realize they have unclaimed accounts or might have forgotten about them over time. Here's everything you need to know about the Retirement Savings Lost and Found Database, additional steps to reclaim your retirement account, and tips to prevent losing track of accounts in the future."  MORE >>

"[PBGC] has approved the application submitted ... by the Legacy Plan of the UNITE HERE Retirement Fund (UNITE HERE Fund). The plan, based in White Plains, New York, covers 91,744 participants in the hospitality industry ... [and] will receive approximately $868.8 million in SFA.... The plan was projected to become insolvent and run out of money in 2030."  MORE >>

"Excessive fee lawsuits have become a lucrative way for a small group of plaintiffs' firms to monetize ERISA's fiduciary provisions.... Petitioners in this case -- who have already lost on their Section 1104 claim -- ask the Court to construe a neighboring provision to create a form of duplicative liability that would be even more susceptible to misuse." Cunningham v. Cornell Univ., No. 21-0088 (2d Cir. Nov. 14, 2023; cert. pet. granted Oct. 3, 2024)]  MORE >>

"Beginning with the 2025 proxy season, ISS will place greater scrutiny on the disclosure and design aspects of performance-vesting equity.... ISS also provided a non-exhaustive list of typical considerations it will take into account when reviewing the disclosure and design aspects of performance-vesting equity ... [Glass Lewis] updated its discussion on the treatment of unvested equity awards following a change in control transaction [.]"  MORE >>