"[1] In calculating whether the benefit is $1,000 or less, the amount of outstanding plan loans are disregarded and rollover contributions are included; [2] The plan fiduciary must conclude that the state unclaimed property fund is a prudent destination; [3] The plan fiduciary must have implemented and exhausted a prudent program to find missing participants and [4] The summary plan description must explain that missing participants may have their account balances transferred to a state unclaimed property fund and identify a plan contact for further information."  MORE >>

"Key takeaways for small businesses ... [1] Don't ignore plan errors.... [2] Make sure your error is eligible and fix it completely.... [3] Use the self-correction option for small mistakes.... [4] Keep detailed records."  MORE >>

"These rules afford employers significant flexibility in designing their student loan matching programs. The IRS even noted that the employer can require the use of payroll to be eligible for QSLP match and generally may require verification through a third party (provided accommodations are made if the third party cannot monitor a loan). This significantly decreases the burdens of implementation and makes these programs more practical to administer."  MORE >>

"On Tuesday, the [DOL] filed a motion in the U.S. 5th Circuit Court of Appeals to hold its appeals in two court cases about the DOL's fiduciary rule, saying the new administration and agency officials need time to onboard and familiarize themselves with the cases. In the motion, the government noted that the opposing parties, led by the American Council of Life Insurers and the Federation of Americans for Consumer Choice, do not oppose the motion." [FACC. v. DOL, No. 24-0163 (E.D. Tex. Jul. 25, 2024; on appeal to 5th Cir. No. 24-40637); ACLI v. DOL, No. 24-0482 (N.D. Tex. Jul. 26, 2024; on appeal to 5th Cir. No. 24-10890)]  MORE >>

"The Court noted that the resulting increase in benefits predated the Fund's rehabilitation plan, and thus could not satisfy the statute's requirement that increased contributions be used to pay for additional benefits or benefit accruals ... Several other employers have challenged the Fund's efforts to include post-2014 contribution rate increases in its withdrawal liability calculations, and the Seventh Circuit is expected to resolve the issue later this year." [Central States, S.E. & S.W. Pension Fund v. McKesson Corp., No. 23-16770 (N.D. Ill. Jan. 13, 2025)]  MORE >>

"President Donald Trump has nominated Daniel Aronowitz to lead the [DOL's] Employee Benefits Security Administration. Aronowitz is president of Encore Fiduciary, a fiduciary liability insurance underwriting company.... Aronowitz has thirty years of experience in the professional liability industry as a coverage lawyer and underwriter ... and authors a blog highlighting key developments impacting retirement plan fiduciaries."  MORE >>

"As both defined contribution recordkeepers and their plan sponsor clients increasingly recognize the benefits of auto portability, its adoption has begun to accelerate. Market adoption theory provides a useful framework for explaining why auto portability is on the cusp of becoming a mainstream feature in retirement plans.... Market adoption theory also highlights the role of market forces in driving adoption."  MORE >>

"Nearly two-thirds (62%) of advisers surveyed believe recommending a speculative asset like bitcoin does not align with their legal obligation to act in their clients' best interest ... 74% of respondents said the pressure to align with traditional financial goals conflicts with the push from cryptocurrency firms to make digital assets a core portfolio component."  MORE >>

"Best practices related to investment menus suggest that committees employ a diligent process when designing a menu and selecting managers. This would also include a documented rationale for the investment lineup and diversification options offered to plan participants as well as ongoing monitoring. It is also important to consider the variety of external factors that can impact and ultimately influence DC investment menus."  MORE >>

"[This article provides] an analysis of ... how 2024 interest rates (generally used for valuing 2025 lump sums) may affect sponsor decisions to de-risk (or not de-risk) defined benefit plan liabilities via a lump sum window in 2025.... For plans contemplating a 2025 lump sum window that have latitude with respect to lookback month and stability period ... interest rate volatility during late 2024 means different lookback months produce very different 2025 lump sum values."  MORE >>

"[Initial] research concluded that 3.3% was a more realistic estimate of a safe starting withdrawal rate in 2021 -- assuming a balanced portfolio, fixed real withdrawals over a 30-year retirement, and a 90% probability of success. That number has fluctuated in the years since.... [T]hese are conservative estimates for fixed withdrawal rates, and retirees can also use flexible withdrawal systems to enlarge their starting and lifetime withdrawals."  MORE >>

"There is a telltale sign that you are a true benefit nerd ... you have printouts of the annual benefit plan limits tacked to the wall by your desk."  MORE >>

153 pages. "This strategic plan begins by offering a brief history of ERISA, what it was designed to achieve, and other significant events affecting the U.S. labor market. It then reviews the fundamental elements of the Council's prior strategic plans and identifies the organization's foundational vision and values. These include: [1] The value of tax incentives for benefit plans and principles for smart tax policy.... [2] ERISA's primacy, and the balancing act between federal and state action.... [3] The critical partnership between people, employers and government.... [4] The importance of bipartisanship for stable benefits policy.... [5] Flexibility drives coverage and innovation."  MORE >>

"[1] Range of services ... [2] Technology and integration ... [3] Customer service ... [4] Cost and value ... [5] Reporting and analytics "  MORE >>

"Form 5500 is an annual report that contains information about a company's benefits, including welfare benefit plans (including medical, dental, life insurance and disability benefits), retirement plans, fully-insured plans, and self-funded plans. [This update covers] the essentials of Form 5500, including who is required to file, the filing deadline, and the potential penalties for failing to file."  MORE >>

"Non-qualified stock options grant employees and certain non-employees, such as consultants and board members, the right to purchase company shares at a fixed price within a set timeframe. The strike price, determined by the company's 409A valuation or fair market value, remains fixed, allowing individuals to potentially profit if the share price increases over time."  MORE >>