"These withdrawals underscore a dramatic priority shift away from regulation in many areas ... In announcing the withdrawals, the SEC noted any regulatory action in these areas would require restarting the rulemaking process."  MORE >>

"The U.S. Supreme Court is seeking the U.S. solicitor general's input on a case alleging Parker-Hannifin Corp.'s 401(k) plan kept underperforming target-date funds that charged high fees ... The complaint ... alleged that the company breached its fiduciary duties under [ERISA] by mismanaging its retirement plan by retaining high cost, underperforming target-date funds." [Johnson v. Parker-Hannifin Corp., No. 24-3014 (6th Cir. Nov. 20, 2024)]  MORE >>

"The Supreme Court's decision in this case will resolve a split between the D.C. and Second Circuits as to whether a plan actuary can calculate an employer's withdrawal liability using different assumptions than were in place as of the end of the prior plan year." [M & K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 22-7157 (D.C. Cir Feb. 9, 2024; cert. pet. granted Jun. 30, 2025 No. 23-1209)]   MORE >>

"Additionally, the settlement calls for: the phased removal of certain Board members[iii], and A competitive bidding process[iv] for the Plan's recordkeeping and administrative services overseen by an independent fiduciary." [(Khan v. Bd. of Directors of Pentegra Defined Contribution Plan, No. 20-7561 (SDNY order and settlement agreement Jul. 2, 2025)]  MORE >>

"The [DOL] has released a prerule item titled 'Pooled Employer Plans' (PEPs) to the Office of Management and Budget for review. According to an abstract of the rule, the action will explore the need for regulatory or other guidance regarding implementation of the ERISA amendments in section 101 of the SECURE Act."  MORE >>

"When a 401(k) account contains both pre-tax and after-tax amounts, the owner can’t later move the after-tax dollars to a Roth IRA or move the pre-tax dollars to a traditional IRA and leave the after-tax dollars alone. Any distribution from the account must contain both pre-tax and after-tax dollars in proportionate shares."  MORE >>

"The Retirement Fairness for Charities and Educational Institutions Act of 2025 would expand the available investment options, allowing certain Section 403(b) plans to include collective investment trusts among the investment options offered to their participants. If enacted, this legislation will help redress the balance for Section 403(b) plan participants."  MORE >>

"The aggregate funded ratio for U.S. corporate pension plans is estimated to have increased by 1.3 percentage points in June, ending the month at 101.2% ... Although the aggregate funded ratio is estimated to have decreased by 0.2% over the trailing twelve months, it is estimated to have increased by 3.9% and 3.4% in the second quarter and year to date, respectively."  MORE >>

"The purpose of this post is to discuss how to use the Actuarial Financial Planner models to plan for a future decrease in your current Social Security benefit assuming that the benefit reduction will be take place in 2034, 9 years from 2025.... It is arguably more prudent and conservative to assume some level of benefit cuts will occur than to assume none."  MORE >>

"The TDF industry is an oligopoly dominated by just a few firms. Oligopolies stymie innovation, but the next market crash will generate an outcry for a movement to safety, especially from those near retirement, namely our 75 million baby boomers. TDFs can and should be safer."  MORE >>

"This notice continues the process of eliminating extraneous and unnecessary Internal Revenue Bulletin guidance by identifying and obsoleting 83 IRB guidance documents.... These guidance documents no longer provide useful information, and clarifying their status as obsolete will streamline administration of the tax laws; reduce the volume of guidance that taxpayers and their advisors need to review for compliance with the tax laws; and increase clarity of the tax law.... Guidance to be eliminated [includes]:

• Notice 2016-75, Section 45R -- 2016 Guidance with Respect to the Tax Credit for Employee Health Insurance Expenses of Certain Small Employers
• Notice 2015-8, Section 45R -- 2015 Guidance with Respect to the Tax Credit for Employee Health Insurance Expenses of Certain Small Employers
• Notice 2014-6, Section 45R -- Transition Relief with Respect to the Tax Credit for Employee Health Insurance Expenses of Certain Small Employers
• Notice 2011-73, Request for Comments on Health Coverage Affordability Safe Harbor for Employers (Section 4980H)
• Notice 2008-94, Guidance on Sections 162(m)(5) and 280G(e) of the Internal Revenue Code"

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"The DOL outlines 12 best practices that reflect key areas of responsibility for ERISA plan sponsors and service providers ... Taking steps now puts plan sponsors in a stronger position for when the guidance eventually shifts from recommendation to requirement."  MORE >>

"Under the OBBB, employers have new benefit options available going forward with respect to HSAs, dependent care FSAs, student loan repayment assistance, and 'Trump Accounts'."  MORE >>

"The conversation largely focused on the effectiveness of the current executive compensation disclosure rules, whether the rules achieve the goals of the underlying legislation, and areas where the rules can be improved.... [A] few areas of agreement emerged: [1] The benefits of some disclosures do not justify the costs.... [2] Current disclosure rules encourage overly long and complex disclosures ... [3] Perquisite requirements have unintended consequences."  MORE >>