"To stay compliant with the latest DOL rules, plan sponsors should ... [1] Check with your service providers to ensure your AFN complies with the new model notice.... [2] Send the updated 2024 AFNs to participants by the deadline: April 30, 2025, for most plans; Sept. 15, 2025, for small plans (fewer than 100 participants)."  MORE >>

"As explained by the court, the fiduciary duty of prudence is both procedural and objective -- that is, procedural prudence does not excuse an objectively imprudent investment, and procedural imprudence is not fatal if the investment was objectively prudent. The court also highlighted the flawed notion that there is only one prudent choice for fiduciaries in selecting services and providers to achieve plan goals."  [Cutrone v. Allstate Corp., No. 1:20-6463 (N.D. Ill., Jan. 27, 2025)]  MORE >>

"Market volatility can cause even the most experienced investors to feel anxious, especially when it comes to their 401(k) accounts. Sudden downturns and unexpected swings in the stock market can cause you to question your investment strategy and move to more conservative investments. However, when it comes to investing in retirement plans, it is important to maintain a long-term perspective."  MORE >>

"Your RMD is effectively cooked as of the year-end of the previous year. So, the RMDs that people are taking out for 2025 depend on whatever their balance was at the end of 2024. Of course, balances were elevated, so RMDs are a little high for 2025. If the market stays down for 2025, then people will see that reflected in the amounts that they have to take out for 2026. There's a little bit of a lag effect. There's not as much opportunity to add some art to when you take out your RMDs, as you might hope."  MORE >>

"[The Retirement Savings for Americans Act (HR 2696}] would include a matching contribution for low- and middle-income workers, but only for those who participate in the plan. While proponents of the bill contend it could improve retirement outcomes, critics argue that the controversial proposal would undermine the nation's private retirement system, as employers would be less likely to sponsor a retirement plan if the federal government provided a plan and covered the costs."  MORE >>

"Atkins, founder and chief executive of Washington, D.C.-based consultancy Patomak Global Partners, was also an SEC commissioner under President George W. Bush from 2002 through 2008, focusing on the financial services industry and securities regulation. His nomination as SEC chair was announced in December 2024."  MORE >>

"The extra money from employer matching is like getting a head start on your retirement without the extra work. It’s essentially "free money" to help boost your savings, and the compound growth on that money can really add up. But even if your company plan doesn't offer matching, you can still benefit from maxing out your 401(k)."  MORE >>

"Lisa Gomez, the former head of EBSA, says that these staff cuts, focused on 'people who are far along in their careers will no doubt drain EBSA of the incredible wealth of institutional knowledge that is held by long-term employees. This leads to not only a brain drain but also works against efforts to build the bench when more experienced staff educates and mentors newer staff.' "  MORE >>

"An ex-Merrill Lynch advisor plans to appeal a ruling tossing his proposed class action against the wirehouse over allegations it illegally withheld brokers' deferred pay when they joined another firm ... [The advisor] claimed that Merrill's deferred compensation plan qualifies as an employee benefit or pension plan under [ERISA]. The appeal will likely face an uphill battle given [the district court's] finding that Milligan's 'expansive interpretation reaches far beyond Congress' intent and ignores ERISA's fundamental premise.' " [Milligan v. Merrill Lynch, Pierce, Fenner & Smith, Inc., No. 24-0440 (W.D. N.C. Mar. 11, 2025; appeal to 4th Cir. filed Apr. 9, 2025)]  MORE >>