"Any changes in the plan's terms must be made by following the plan's amendment procedures and disclosing the changes to participants in a summary of material modifications (SMM) or a revised SPD.... [S]afe harbor matching contributions have specific notice requirements in addition to the SPD or SMM requirements."  MORE >>

"Personal liability for losses to the plan is a significant potential consequence of breaching one's fiduciary duty under ERISA.... [T]his case is a reminder that the DOL will exercise its investigative powers to the fullest extent possible." [Micone v. iProcess Online, Inc., No. 24‑0061 (D. Md. Apr. 21, 2025)]  MORE >>

"Retirement savers pay annual fees of between 0.4% and 0.6% of the account balance, on average, for a managed account. That's on top of the underlying expenses of the fund.... [Y]ou get a customized asset allocation that accounts for your personal goals, risk tolerance, the different types of income you may have in retirement and when you plan to retire.... The adviser can also help you determine strategies to save more or less in your 401(k), when to start drawing down in retirement and even when it makes sense to do a Roth conversion[.]"  MORE >>

"Here are some important factors to consider: [1] Life expectancy ... [2] Monthly living expenses ... [3] Taxes ... [4] Safety and security."  MORE >>

"[M]any individuals may be compelled to increase their contributions to 401(k) plans.... It's possible businesses would shift the funds normally paid into Social Security taxes to a larger company match or even provide nonelective contributions to each employee's 401(k), even if they don't participate.... Companies may offer access to financial advisors and planning tools to help employees feel more confident about their investment decisions.... If the average worker were to lose part of their Social Security benefits, it could be more difficult to determine the right time to retire."  MORE >>

"Even in these days of its early development, it appears that Artificial Intelligence may already be helpful in explaining the complexities of public pension-private equity corruption and, in so doing, AI will hopefully expose and end these costly abuses."  MORE >>

"The PR Supreme Court determined that, even if a statute's language may be ambiguous, the final interpretation of such statute is ultimately under the courts' purview and not administrative agencies. Similar to U.S. law, Puerto Rico courts are no longer required to provide deference to administrative agencies." [Vázquez v. Consejo de Titulares y Junta de Directores del Condominio Los Corales, 2025 TSPR 56 (May 21, 2025)]  MORE >>

"The intersection of releases with ERISA governed benefits, as well as with a fiduciary's obligations, is a little backwater corner of ERISA law that ... can give rise to a great deal of misunderstanding and confusion in the relationship between plan sponsors and plan participants. This decision -- particularly since its guidance is likely to be borrowed in decisions and lawsuits elsewhere -- will help with those problems." [Schuman v. Microchip Technology Inc., Nos. 24-2624, 24-2978 (9th Cir. Jun. 5, 2025)]  MORE >>