"Rev. Rul. 2025-15 addresses the following issues. Is an adjustment or refund available under IRC Sections 6413 and 6414 for amounts withheld and remitted regarding the first check? What federal income tax withholding obligations apply regarding the second check? What reporting obligations apply under IRC Section 6047(d) regarding the first check and the second check?"  MORE >>

"Another in a continuing line of plan asset forfeiture cases out of California ends in the employer's favor chiefly due to solid plan language, demonstrating the advantage of intentional drafting. Here, the applicable plan language did not merely give the fiduciaries discretion to use forfeitures to pay plan expenses and future contributions, but, in fact, required that they do so. " [Wright v. JPMorgan Chase & Co., No. 25-0525 (C.D. Calif. Jun. 13, 2025)]   MORE >>

"The suit alleges that the defendants 'based the decision of how to allocate forfeitures solely on the company's own self-interest and failed to consider … the interests of the plan and its participants.' In the past two years, at least 50 class-action 401(k) lawsuits have been filed by plan participants over misuse of forfeited assets from former employees." [Tillery v. WakeMed Health & Hospitals, No. 25-0408 (E.D. N.C. complaint filed Jul. 10, 2025)]  MORE >>

"The attorneys ... included one-third of the settlement amount in fees, [along with] $735,163 in litigation costs ... The $69 million deal ... is widely recognized to be the largest ERISA settlement for breach of fiduciary duty based on the plan's failure to remove a poorly performing Wells Fargo investment option." [Snyder v. UnitedHealth Group, No. 21-1049 (D. Minn. proposed settlement filed Dec. 13, 2024)]  MORE >>

"While the mechanics of recency bias are nothing new to wealth management professionals, its real-world implications for retirement plan participants and, by extension, plan sponsors, are more pressing than ever. In investment terms, employees often expect recent high returns to continue indefinitely, leading them to underestimate potential market volatility. This can distort participants' investment decisions, creating fiduciary challenges for plan sponsors."  MORE >>

"U.S. regulators (SEC/DOL) and lawmakers are advancing proposals to allow private equity in 401(k) plans ... Retail investors face existential risks compared to institutional peers, with fees 67x higher than index funds and no capacity to absorb illiquidity. Experts urge savers to demand transparency, limit exposure, and advocate for ERISA-aligned regulations prioritizing pecuniary investor protections."  MORE >>

"Administrators of 403(b) plans in the Bay State would be subject to heightened disclosure requirements if legislation before both chambers of the Massachusetts legislature is enacted.... It would require companies administering such plans to disclose, for each investment ... [1] fee ratio; [2] returns; [3] net of fees; and [4] amount of compensation sales agents receive."  MORE >>

"[A]llowing collective investment trusts (CITs) in 403(b) plans could save the median plan participant about 0.08% to 0.09% annually compared to mutual fund fees -- translating into $23,000-$28,000 less paid in fees by age 65 for someone earning $74,000 a year. That's enough to cover six months of living expenses in retirement for one person."  MORE >>

"With hundreds of annuities in the market to choose from, some will cost you more than others. It doesn't help that there are a variety of potential fees from administrative costs to commissions that can be hard to spot and will ultimately impact your payouts. How much is too much when it comes to fees, and how do you know if you're paying too much?"  MORE >>

"PBGC OIG investigated the Trucking Employees of North Jersey and determined the plan included 89 deceased participants among the more than 6,100 plan participants used in the plan's SFA application.... [B]ecause of the inclusion of deceased participants, the Trucking Employees of North Jersey's SFA payment was overstated by approximately $7.6 million. The Board of Trustees for the Trucking Employees of North Jersey fully cooperated with PBGC OIG's investigation and voluntarily repaid the entirety of the excess SFA funds on July 2, 2025."  MORE >>

"The exponential growth of misleading content -- misinformation, disinformation, and AI slop -- is polluting digital ecosystems. Compounding the risk is the fact that no current detection system can reliably verify the authenticity of all forms of digital information. Institutional allocators may not even be aware of the systemic risk they face, which could compromise investment outcomes on an unprecedented scale."  MORE >>

"[I]ndividuals and businesses in parts of New Mexico affected by severe storms, flooding, and landslides that began on June 23, 2025 ... now have until Feb. 2, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households residing or having a business in Chaves, Lincoln, Otero, and Valencia counties qualify for tax relief."  MORE >>

"The OBBBA contains a number of provisions that impact employee benefit matters, including changes to: [1] controlled group application to the limits to deductibility of certain compensation in excess of $1 million, [2] health savings accounts, [3] dependent care assistance plans, [4] 529 savings accounts, [5] ABLE accounts, [6] new Trump savings accounts, [7] transportation fringe benefits, [8] employer payments of students loans, [9] paid family and medical leave credit for the employer, [10] moving expenses and [11] Federal student loan changes[.]"  MORE >>

Video of July 17 hearing, with testimony by: [1] Mrs. Patrice Onwuka, Center for Economic Opportunity; [2] Ms. Kim Kavin, Imagine Media LLC; [3] Mr. Kev Coleman, Paragon Health Institute; [4] Mr. Timothy J. Driscoll, International Union of Bricklayers and Allied Craftworkers; and [5] Ms. Karen Friedman, Pension Rights Center.  MORE >>