"[OPM has] launched a new online portal for federal retirees ... The improved platform will streamline the retirement application process for federal employees, HR professionals, and payroll offices.... [U]sers accessing the platform will be met with a streamlined entry point tailored to both agency partners and members of the public. The new experience reinforces OPMʼs broader goal of transforming the retirement process into one that is faster, paperless, and easier to navigate."  MORE >>

"Recent legislative and regulatory developments, including the American Rescue Plan Act of 2021 (ARPA) and [SECURE 2.0], have significantly updated the AFN requirements, particularly for plans receiving Special Financial Assistance (SFA) under ARPA. This article outlines the key changes made to the AFN requirements since the [DOL] issued its final rule regarding AFN requirements in 2015, as applicable to single-employer plans, multiemployer plans, and multiemployer plans that have received SFA."  MORE >>

"This post outlines practical considerations for plan sponsors regarding their defined contribution plan's default beneficiary hierarchy. [1] Keep it simple.... [2] [T]he effective date for [any] change should be prospective ... [3] Take care when moving onto a new recordkeeper's plan document.... [4] Disclose the default beneficiary hierarchy in participant communications."  MORE >>

"[A recent] incident highlights the problem with mailed paper checks still being common in 401(k) rollovers despite some obvious and unnecessary risks.... [P]aper checks remain a common element of the rollover process as 43% of individuals who rolled over were forced to receive and forward a paper check during their transfer.... 82% of savers surveyed think rollovers should be as easy as an Automated Clearing House (ACH) bank transfer, and unsurprisingly 84% want the option to complete a rollover entirely online."  MORE >>

"Understanding your responsibilities isn't just about avoiding legal pitfalls or risk management -- it's about making prudent decisions that directly impact your employees' financial futures. Comprehensive fiduciary training should address these key areas: [1] ERISA fundamentals ... [2] Plan governance ... [3] Investment management responsibilities ... [4] Day-to-day operations ... [5] Best practices and industry trends ... Red flags: When your advisor isn't meeting the mark ... What excellent fiduciary training looks like."  MORE >>

62 pages. "This practice note replaces the June 2023 version ... This updated practice note reflects the changes in ASOP No. 27 that are effective for actuarial reports issued on or after Jan.1, 2025, with a measurement date on or after Jan.1, 2025."  MORE >>

"Compliance Assistance Release 2025-01 footnote 2 makes it clear that the ordinary fiduciary principles from the ERISA still apply.... [A] fiduciary must do his/her due diligence prior to putting bitcoin or any other cryptocurrency on a plan menu.... At this point the better question is why don't you have a position in bitcoin or should your bitcoin position be larger. To help get you there the remainder of this paper will explain what makes bitcoin unique compared to all other investment options and cryptocurrencies."  MORE >>

Video of June 5 hearing. Opening statement: Chairman Tim Walberg (R-MI) Witness: DOL Secretary Lori Chavez-DeRemer.  MORE >>

"[W]hen claims are denied, employees often find themselves navigating complex administrative appeals without adequate support or guidance. This critical gap between benefit promises and actual employee experiences presents both significant risk and opportunity for employers. For HR leaders and executive teams, employee benefits advocacy through structured legal support is now a strategic necessity."  MORE >>

"Arthur Martin and his son Wade, 50- and 37-year industry veterans, respectively, raised arguments that have been brought in a separate court case and dozens of arbitrations. They claim that Morgan Stanley's deferred compensation program falls under federal law governing pension plans, which would make forfeiture illegal.... Morgan Stanley has strongly denied that the deferred plans are governed by ERISA."   MORE >>