"To protect against claims of fiduciary breach and therefore reduce the likelihood of litigation in the aftermath of Cornell University, plan sponsors must rely on procedural safeguards to ensure all service provider transactions firmly and unequivocally comply with the reasonable compensation for necessary services exemption of ERISA section 408.... [P]lan sponsors should engage in ongoing, comprehensive contract review and benchmarking of fees, focusing on [specific] key considerations."  MORE >>

"Adults in Generation Z who work with a financial adviser began at an average age of 23 -- more than two decades earlier than Baby Boomers. In some cases, members of Gen Z began working with an adviser before they began formally saving for retirement ... Millennial respondents started at an average age of 30, 10 years earlier than the average age for Gen X and close to 20 years earlier than Baby Boomers."  MORE >>

"For employers, [nonelective contributions] offer flexible tools to meet plan goals -- whether avoiding annual testing, maximizing owner contributions, rewarding employees, or fixing compliance issues. For employees, they can mean guaranteed retirement savings even without personal deferrals. This guide breaks down the three major types of nonelective contributions -- safe harbor, profit sharing, and corrective (QNECs) -- and when each may be appropriate."  MORE >>

"IRS guidance provides that generally, a partial termination occurs when there is a 20% or greater turnover rate during an applicable period.... A plan sponsor may be able to exclude some employees from the calculation if they were terminated for cause.... A plan sponsor may also provide evidence that the turnover rate is routine by providing proof of similar turnover in previous plan years and employee replacement rates."  MORE >>

"At her confirmation hearing before the Senate Finance Committee on June 3, Janet Dhillon -- nominated by President Trump on March 10 to be the new Director of the [PBGC] -- addressed committee members' questions and pledged to work with Congress in pursuing the agency's mission."  MORE >>

"In March 2024, 15 percent of private industry workers had access to a defined benefit plan.... Among private industries, financial activities was notable in that 31 percent of workers had access to a defined benefit plan and 16 percent of workers chose to participate.... Defined contribution plans ... [were] more widely available to private industry workers, as 70 percent of these employees had access and 50 percent chose to participate in March 2024."  MORE >>

"Baby boomers in Target Date Funds (TDFs) face high risk near retirement, with portfolios often 90% in equities and long-term bonds. TDFs fail to protect against Sequence of Return Risk, exposing retirees to potentially devastating losses during the critical Retirement Risk Zone. Most TDFs are not substantively prudent, with only a few options ... offering real protection for those near retirement."  MORE >>

"Opinion letters issued by the DOL are official publications that explain how the DOL enforces various laws and regulations under specific scenarios submitted by a requesting party. Opinion letters offer timely guidance to both employers and individuals, while also providing insight into the agency's likely positions in future rulemaking or litigation.... [T]he number of opinion letters issued by the DOL is likely to increase, especially following the limited number ... issued during President Biden's term."  MORE >>

"The DOL's decision to bring back opinion letters isn't just administrative housekeeping. It's a renewed invitation to employers: Ask us how the law applies, and we'll tell you. That kind of regulatory transparency tends to be sporadic -- and when it is offered, smart employers take advantage."  MORE >>

"Overall, the FY 2026 budget requests $181 million, compared to $191 million for FY 2025. The total full-time employee count would drop from 687 to 640 for FY 2026. Additionally, the [PBGC] is requesting $18 million less in administrative expenses or the equivalent of 85 full-time employees."  MORE >>

"As your organization grows (often around 50 employees or more), the potential downsides of a PEO -- lack of customization, transparency concerns, feeling constrained by their systems -- can outweigh the initial administrative simplicity.... Leaving a [PEO] allows you to gain greater control and customize HR solutions ... However, the transition itself involves significant effort and potential challenges."  MORE >>

"This roundtable reflects the SEC's broader effort to reassess whether current disclosures are providing investors with decision-useful information or simply contributing to compliance-driven volume without clarity.... The current disclosure regime has grown increasingly detailed since the SEC's 2006 rule overhaul and subsequent additions required under the Dodd-Frank Act.... Chairman Paul S. Atkins has questioned whether these layers of disclosure are producing meaningful insight or merely compliance-driven volume."  MORE >>