10 pages. "The 2024 Form 5500-EZ may be filed on paper. File the official IRS printed Form 5500-EZ or the downloadable form found on the IRS website; or use approved software, if available." [Also available: 2024 IRS Form 5500-EZ (fillable PDF)]  MORE >>

"[T]he final amendments allow plan fiduciaries to self-correct late-deposited participant contributions or loan repayments, as well as certain other participant loan errors by filing a notice of correction with DOL, in lieu of filing a full VFCP application. The final amendments take effect on March 17, 2025."  MORE >>

"Internal Revenue Code Section 410(b)(6)(C) provides a grace period called the 'Transition Period' ... [which] allows entities involved in a business transaction time to assimilate the new entity and staff before requiring them to cover newly acquired employees in the retirement plans. This means the Transition Period could permit two retirement plans to operate separately for a limited period of time without having to worry about covering enough employees in each plan.... Transactions such as an acquisition of stock, acquisition of assets, or merger of entities all qualify under this rule, provided the transaction involves a change in the members of the group of employers aggregated under the Code."  MORE >>

"FINRA is focusing on services and recommendations by broker-dealers and their registered representatives to retirees, senior investors and investors with diminished capacity. [The 2024 FINRA Annual Regulatory Oversight Report] has one part that specifically focuses Reg BI's application to plan-to-IRA and IRA-to-IRA transfer recommendations."  MORE >>

"There has been a deluge of ERISA lawsuits alleging misuse of forfeiture assets to offset a plan sponsor's match contribution rather than benefit participants and beneficiaries ... If these cases are successful, it could change the way most defined contribution plans are run. Initially thought of as a nuisance, plan sponsors and defense counsel are starting to take these cases seriously, as heavyweights like Jerry Schlichter are betting they will be successful."  MORE >>

"A foundation of trust between a service provider and employees and clients is essential when sensitive information and processes are part of the relationship.... Business email is fraught with peril, [attorney Joshua Cook] suggested, remarking that it's 'shockingly easy' for email to be compromised. Also, almost 70% of U.S. organizations are victims of ransomware attacks, he said, remarking, 'that number is startling to me.' Further, 74% of those attacks were aimed at small and medium-sized businesses in the first quarter of 2024."  MORE >>

"[A] recent annual study on safe withdrawal rates ... looked at the role immediate and deferred annuities can play in retirement and found they can have a positive impact on spending in retirement. ... [E]ach of the scenarios ... tested with different allocations to both types of annuities did lead to higher lifetime spending than our base case scenario. However, they also had lower median ending balances and lower total spending + ending balances than the scenarios where the retiree only opted to use Social Security as their guaranteed income source."  MORE >>

"The funded status of the 100 largest U.S. corporate defined benefit pension plans increased by $12 billion during January ... The funding surplus improved to $71 billion as a result of liability decreases and investment returns that surpassed expectations. Pension liabilities fell during the month due to a small increase in the benchmark corporate bond interest rates used to value those liabilities. As of January 31, the PFI funded ratio climbed to 105.8%, up from 104.8% at the beginning of the year."  MORE >>

"Before the repeal of the WEP and GPO, stabilizing Social Security's finances without benefit reductions would have required an immediate and permanent payroll tax hike from 12.4 percent to 16.73 percent -- an increase of $2,660 for someone earning $61,440 per year. Now, the necessary rate is 16.84 percent -- costing the median worker an extra $68 per year. In other words, 180 million workers will pay more so 3.2 million retired public sector workers can collect more."  MORE >>

"Organizations have opened themselves up to cyber threats and potential sanctions through the remote hiring process.... Members of Famous Chollima pretend to be offshore tech hires, falsifying resumes, generating profiles via Artificial Intelligence, and utilizing deception during hiring. Once hired, they use 'laptop farms' to disguise their location ... collecting a salary while harvesting sensitive data and learning critical details of corporate IT and security infrastructure for later sale or direct exploitation. CrowdStrike has uncovered Famous Chollima applying to or working at more than 150 organizations."  MORE >>

"Companies that scale successfully typically: [1] Create a clear global benefits philosophy that allows for local adaptation. [2] Partner with international benefits experts who understand both global and local perspectives. [3] Invest in robust global benefits technology platforms. [4] Benchmark against local market practices regularly. [5] Maintain flexibility to adapt to changing market conditions."  MORE >>