"[Field Assistance Bulletin (FAB) 2025-01] may be particularly helpful in the context of uncashed checks (e.g., amounts that have been involuntarily distributed or trailing distributions that go uncashed). However, plan fiduciaries should think carefully and consult with counsel about whether escheatment makes sense under various scenarios. It may also take some time for state treasurers to prepare to make the necessary representations, or for plan fiduciaries to conduct the necessary diligence if these representations are not available."  MORE >>

"The plaintiffs argued that the plan, with over $1.7 billion in assets and 14,000 participants, should have leveraged its size to negotiate lower fees but instead paid double the market rate for comparable plans.... The Sixth Circuit found the plaintiffs' comparison to other plans insufficient because the complaint lacked specifics about the services and quality provided to the DENSO plan versus the comparator plans." [England v. DENSO Int'l Am. Inc., No. 24-1360 (6th Cir. May 6, 2025)]  MORE >>

"Employers have been challenging the Central States Pension Fund's efforts to include post-2014 contribution rate increases in its withdrawal liability calculations for several years. Barring a subsequent appeal and reversal, the Seventh Circuit's decision stands to conclusively resolve those cases, and provide interpretive guidance for other plans administered in the Seventh Circuit." [Event Media Inc. v. Central States, Southeast and Southwest Areas Pension Fund, Nos. 24-1739, 24-1740, 24-1741, 24-1742 (7th. Cir. Apr. 24, 2025)]  MORE >>

"Consider adding an arbitration clause to the plan document.... Create prudent processes and procedures for selecting, monitoring, and removing plan service providers.... Have a well-developed investment policy statement that has clear guidance on how and when to remove underperforming funds. Have regular meetings of plan trustees and other plan fiduciaries.... Engage the plan's counsel or service providers for fiduciary training at least annually and ensure any new plan trustees get training up front."  MORE >>

"Two recent class action lawsuits charging a breach of fiduciary duty under [ERISA] have increased the stakes and raised important considerations regarding a plan fiduciary's duty of loyalty/prudence and engagement in prohibited transactions. This follows a string of cases over the years that have expanded the responsibilities of ERISA fiduciaries in the context of the use and investment of retirement plan assets."  MORE >>

"[1] No representatives from IRS, DOL, JBEA, or PBGC appeared ... [2] Websites showing segment rates for funding and calculating 417(e) lump sums are not being updated ... [3] In response to [a] question ... about what to expect from the new administration on pensions the feeling was fewer audits, regulations, and oversight[.]"  MORE >>

"This document is a foundation to define what an API (Application Programming Interface) is, what it will be used for, and how it is different from other data exchange practices in the Retirement Plan Industry ... This document ... is an overview to help TPAs and Record Keepers work together to build precise specifications at much higher detail. [The authors] also discuss security concepts[.]"  MORE >>

"Many executives assume that a trust equates to safety, but in the case of a rabbi trust, that assumption can be dangerously misplaced. This article explains what a rabbi trust is, why it poses a risk in times of financial distress, and what options -- albeit limited -- executives and other plan participants may have if trouble arises."  MORE >>