"Use Form 8880 to figure the amount, if any, of your retirement savings contributions credit (also known as the saver's credit). The maximum amount of the credit is $1,000 ($2,000 if married filing jointly)."  MORE >>

"[A recently added] web page from the IRS summarizes the remedial amendment cycles for preapproved defined contribution (DC), defined benefit (DB) and 403(b) plans. The table contains the full history of the applicable starting and ending dates for each plan type, for every cycle, from the first to the most recent.... IRS hasn't yet issued opinion letters for the fourth cycle for DC plans, so that cycle's end date hasn't been determined."  MORE >>

"The court emphasized that ERISA's prudence requirement is based on conduct rather than outcomes. To establish a breach of this duty, plaintiffs must show that the fiduciaries failed to employ appropriate methods in their investment decisions. Plaintiff's claims were primarily circumstantial, relying on comparisons between Intel's funds and other funds." [Anderson v. Intel Corp. Inv. Policy Comm., No. 22-16268 (9th Cir. May 22, 2025)]  MORE >>

"The Ninth Circuit affirmed that ERISA's duty of prudence looks to a fiduciary's prospective decision-making, not hindsight performance, and that 'apples-to-oranges' comparisons on returns or fees cannot, by themselves, establish imprudence.... Echoing the [DOL's] 2020 information letter, the court found that private funds are not per se off-limits.... Intel's almost seven-year, ultimately meritless lawsuit -- and the possibility that other circuits could apply a more plaintiff-friendly standard -- means that fiduciaries may still hesitate absent an express statutory or regulatory safe harbor for including professionally managed, diversified fund options in which private market investments are a component." [Anderson v. Intel Corp. Inv. Policy Comm., No. 22-16268 (9th Cir. May 22, 2025)]  MORE >>

"A quarter of plans only allow rollovers via check, and 15 percent only allow checks for other distributions, but most plans allow employee choice in how they receive or move their money. It seems the consensus from plan sponsors is that they prefer electronic methods, though some of the check restrictions come from the recordkeepers. An additional benefit to electronic transfers is no uncashed checks, which is an administrative and audit concern for many."  MORE >>

"Plan sponsors seem afraid of annuities that can guarantee lifetime income or just unaware that they are an option. Is fear of annuities valid and, if so, what can be done about it?"  MORE >>

"[C]urrent trends affecting TPAs. [1] Consolidations.... [2] Issues concerning long-term, part-time employees ... [3] Pooled employer plans have an impact ... [S]trategies TPAs can follow that could enhance their service and build the business. Be an ally.... Local flavor ... Hard work.... Know the clients.... Be prepared."  MORE >>

"Unlike 401(k) plans, where employers and trustees can direct existing investments to be mapped or transferred to replacement funds, 403(b) plans are generally not invested in trusts, but in fixed or variable annuity contracts and/or custodial accounts (mutual funds). Some of these contracts may not permit mapping of investments to replacement investments without obtaining individual consent from participants."  MORE >>

"[T]he Federal Retirement Thrift Investment Board Inspector General Act of 2025 [HR 3364] ... seeks to amend the Inspector General Act of 1978 to include the FRTIB among the federal entities required to have an inspector general.... If enacted, the inspector general would be responsible for conducting audits, investigations and evaluations to promote efficiency while preventing any fraud, waste or abuse within the agency."  MORE >>

"20% of retirees and 35% of pre-retirees have experienced an unexpected financial shock resulting in a loss of more than 25% of assets ... [T]he biggest stealth costs in retirement. [1] Health care costs ... [2] Taxes ... [3] Emergencies ... [4] Family crises ... [5] Inflation-related costs."  MORE >>

"[The first part of this article] analyzes why plaintiff-participants bear the burden of proof on liability, causation and damages under ERISA, and why the Solicitor's and DOL's historical burden-shifting position is wrong. The second part ... addresses the additional issue of objective prudence that is often missed in ERISA causation analysis.... A proper application of the objective prudence inquiry to ERISA investment challenges is the only way to stop the litigation abuse challenging any investment option that does not meet the investment return in hindsight of top-performing investments." [Pizarro v. Home Depot, No. 22-13643 (11th Cir. Aug. 2, 2024; cert. pet. filed Dec. 3, 2024; Solicitor General brief requested Apr. 21, 2025)]  MORE >>

"ERISA requires that the disclosure method of plan materials to employees be 'reasonably calculated to ensure actual receipt.' The DOL has a 2002 safe harbor approach to meet that standard, which is based on whether employees have work-related computer access integral to their job duties. Nonetheless, many employers today are comfortable operating outside that dated safe harbor approach given the current widespread access to online materials by most employee populations."  MORE >>