"It has been over two years since SECURE 2.0 was enacted, and a recent report confirms it remains a top priority for plan sponsors. In fact, 82% of plan sponsors emphasize that reviewing provisions and adopting relevant updates is a key focus this year."  MORE >>

"The IRS is accepting written comments on the proposed regulations until March 14, 2025. Specifically, the IRS invites comments explaining how the proposed regulations may affect small businesses. The IRS has also scheduled a public hearing on April 7, 2025."  MORE >>

"A plan fiduciary's choice of a distribution option for a missing participant's account is a fiduciary decision subject to the general fiduciary responsibility provisions of ERISA. Based on the DOL guidance on this subject, [this article provides] a discussion of what are considered to be best practices for locating missing participants. The DOL applies the list of best practices to both defined contribution plans and defined benefit plans."  MORE >>

"The [DOL] on Jan. 16, 2025, released its long-awaited proposed regulation interpreting the definition of 'adequate consideration' as applied to private company stock acquired or sold by an [ESOP] ... [along with] a safe harbor class exemption for certain ESOP prohibited transactions. Four days after the release ... the Trump Administration froze all pending proposals and withdrew the proposed adequate consideration and PTE regulations. Whether new or revised proposed regulations will be published by the DOL under the Trump Administration is yet to be seen."  MORE >>

"Following his termination, Mauer applied for his pension benefits ... However, the Pension Committee denied his application, arguing that Mauer had not clearly 'attained a distribution event' as defined by the Plan, citing the potential for his reinstatement due to a pending lawsuit against the NBA.... Citing definitions from authoritative dictionaries, the [Second Circuit] emphasized that 'termination of employment' clearly refers to the end of the employment relationship without any conditionality on future possibilities." [Mauer v. Pension Comm. of the Nat'l Basketball Ass'n Referees' Pension Plan, No. 24-1405 (2d Cir. Feb. 20, 2025; unpub.)]  MORE >>

"[T]he U.S. Supreme Court abolished the presumption of prudence and modified the pleading standards that plaintiffs must satisfy to state a viable claim for breach of fiduciary duty when the price of employer stock offered under a retirement plan drops.... Nevertheless, the risk of litigation in this area persists. This column explains the pre- and post-Dudenhoeffer legal landscape as well as considerations for plan fiduciaries as to how to reduce their fiduciary risk."  MORE >>

"The SECURE 2.0 Act of 2022 created an opportunity for employers to help their workers pay off student loans while still saving for retirement, but implementing this optional provision in connection with a retirement plan will look different, depending on the organization's needs."  MORE >>

"As if we didn't have enough acronyms already, the SECURE Act and SECURE 2.0 brought us a bunch of new ones…apart from the fact that SECURE is an acronym itself.... SECURE ... PLESA ... QBAD ... QSLP ... QLAC."  MORE >>

"The success of return-seeking strategies has improved U.S. pension funding positions to the point where less risk-taking may be needed to maintain plan stability. Pension plan sponsors with high allocations to return-seeking asset classes might consider de-risking strategies to help safeguard gains they may have achieved over the past four years."  MORE >>

"As of December 31, 2024, Milliman estimates that the aggregate funded percentage of all multiemployer plans hit 97%, up from 89% a year prior.... As of year-end 2024, 102 plans have received nearly $70 billion in SFA funding, including $16 billion paid during 2024. Without SFA, the MPFS plans' aggregate funded percentage at year-end 2024 would be approximately 89%"  MORE >>

11 pages. "In Fiscal Years 2020 through 2023, SSA reported it issued approximately $32.8 billion in OASDI and SSI overpayments ... SSA attributed 72 percent of OASDI overpayments to beneficiaries who did not report or timely report information to SSA that negatively affected their benefits. SSA determined the remaining 28 percent occurred due to other reasons."  MORE >>

"The HHS Rescission Notice does not expressly rely on the Trump administration's Deregulation Order, which was announced only a day before the rescission notice. ... [N]umerous employee benefit regulations and related guidance (whether recently issued or otherwise) could be vulnerable to identification, modification, or rescission under the grounds stated by the Deregulation Order."  MORE >>