"The IRS is soliciting comments concerning Form 4461, Application for Approval of Standardized or Nonstandardized Pre-Approved Defined Contribution Plans; Form 4461-A, Application for Approval of Master or Prototype or Volume Submitter Defined Benefit Plan; and, Form 4461-B, Application for Approval of Standardized or Nonstandardized Pre-Approval Plans, and Form 4461-C, Application for Approval of Standardized or Nonstandardized 403(b) Pre-Approved Plans."  MORE >>

"Under the updated policy, now slated to take effect April 14, 2025, individuals applying for Social Security Disability Insurance, Medicare or Supplementary Security Income who cannot use their personal 'my Social Security' account online can complete their claim entirely over the telephone, without the need to come into an office.... Individuals who cannot use their personal online my Social Security account to apply for benefits will only need to provide proof of their identity at a Social Security office if applying for Retirement, Survivors or Auxiliary (spouse or child) benefits. The SSA said it will enforce online digital identity proofing or in-person identity proofing for these cases."  MORE >>

"Participants who turned 73 in 2024 must begin taking RMDs from their employer-sponsored retirement plans by April 1, 2025, unless they are still working, and their plan allows them to defer. Missing this deadline can be costly ... Plan administrators play a crucial role in promoting compliance and protecting participants from these penalties."  MORE >>

"[A]ssessing annuities is a dynamic process. It involves putting any contract under any particular plan or arrangement in 'context.' The designs, terms, crediting crates and the like shift over time and circumstance, and may well apply differently depending on the arrangement." [Gonzalez v. JPMorgan Chase Bank N.A., No. 25-1889 (D.N.J. complaint filed Mar. 14, 2025)]  MORE >>

"Decision making is a big part of being a plan sponsor, so whenever assessing plan options, it's imperative for plan sponsors to keep focused on their fiduciary obligations. Specifically, plan sponsors must 'be sure they understand any option before selecting it', and clarify the benefits and costs for participants."  MORE >>

"ESPPs drive account activity; employees in an ESPP log into NetBenefits 41% more often. Double-digit retirement savings results and longer tenure are seen at every income level, in every age group, and among both genders."  MORE >>

"[S]ponsors who haven’t done so already should evaluate (or re-evaluate) whether active lump sums present an accretive step in their derisking journey. As with any derisking option, there are factors to be considered and issues to be understood before moving forward."  MORE >>

"There are two broad categories of insured payment options -- income annuities and annuities with guaranteed lifetime withdrawal benefits (GLWBs). ... [T]here are important differences when offered within an employer-sponsored retirement plan.... There is no single option that will meet all plan participant needs due to differing participant demographics, household needs, other income, other retirement plans, etc. Plan sponsors may find that a choice from among a combination of two or more options may better meet the needs of most plan participants"  MORE >>

28 pages. "In mid-2024, 44 percent of U.S. households owned IRAs. Traditional IRAs were the most common type of IRA owned (33 percent of US households), followed by Roth IRAs (26 percent) and employer-sponsored IRAs (4 percent).... In mid-2024, 59 percent of traditional IRA-owning households indicated that their traditional IRAs contained rollovers from employer-sponsored retirement plans.... Across all US households, 16 percent contributed to traditional or Roth IRAs in tax year 2023."  MORE >>

14 pages. "This comment letter raises the following [mandatory auto enrollment (MAE)] questions and issues: [1] Small business exception; [2] Defining portions of years for automatic increase; [3] Application of QDIA requirements for employer-directed plans; [4] Application of MAE in company acquisitions; [5] Clarification of plan merger issues; [6] Correction of MAE failures; [7] Consequences for union employees; [8]The impact of MAE on deferral-only 403(b) plans."  MORE >>

11 pages. "This comment letter raises the following [catch-up contribution (CUC)] questions and issues: ... [1] Benefits, rights, and features testing in a non-Roth plan; [2] Participant notice requirement for Roth CUC; [3] Challenges with Roth CUC corrections; [4] Roth practices & procedures.... [5] Setting special limits for ages 60-63 CUC.... [6] Issues impacting Puerto Rican employees."  MORE >>

" 'Why would America's plan sponsors continue to offer retirement plans with generous company matches if the trial bar is going to turn these voluntary benefits into liability traps?' This question, which [EBSA nominee Daniel Aronowitz] asked in a blog from Sept. 2024, more or less summarizes his concerns with ERISA litigation, which he considers not just excessive but destructive.... Aronowitz ... suggests that fiduciary liability should be shifted away from sponsors and onto providers, especially in cases where the business model of that provider is an issue in the case."  MORE >>