"[If] 25% or more of a fund's assets are tied to ERISA-governed benefit plans, then 'the fund becomes a fiduciary under ERISA.' ... Since a retirement plan would entail a steady flow of investment to the fund, this flow must be managed if the fund is keen to avoid the 25% threshold ... All this compliance work means that many plans and private funds, especially smaller ones, will just avoid this hassle altogether. Unless, of course, the rules were changed."  MORE >>

"Many private equity funds operate as partnerships or LLCs, which can result in retirement investors like 401(k) plans being treated as partners for tax purposes when they invest in these funds.... Many retirement plans lack the infrastructure to monitor UBTI exposure, handle tax filings, or manage the related administrative tasks. If these obligations are overlooked, the plan may face penalties and interest from both federal and state tax authorities."  MORE >>

"AD No. 25-03 provides that amendments for SECURE 2.0 provisions -- whether optional or mandatory -- do not constitute Qualification Amendments. This clarification is important because under long-standing PR Treasury guidance, a Qualification Amendment must be submitted to the PR Treasury for a new determination letter (even if the plan already has a recent determination letter)."  MORE >>

"[L]ess than one-quarter of employees ... who don't understand their retirement benefits are satisfied with them. But more than three times as many employees -- more than 70% -- were satisfied with the retirement plan their employer offered if they understood that benefit.... One of the means by which an employer/plan sponsor can inform employees about the benefits it offers is the total compensation statement (TCS)."  MORE >>

"One crucial consideration is the impact on plan participants' pension benefits due to the transition from the protections afforded by federal standards under ERISA and the PBGC to the state insurance guarantees, which vary. This article is an introduction to partial pension risk transfers for plan sponsors that are interested in learning more before deciding whether to pursue the strategy, which isn't right for every organization."  MORE >>

"This article discusses considerations for trustees of plans that have received SFA: [1] Rehabilitation plan updates; [2] Investment strategy; [3] Actuarial assumptions review; [4] Accrual rate increases; [5] Variable benefit designs; [6] New employer engagement; [7] Small benefit cash-outs; [8] Plan mergers."  MORE >>

"In the fiscal year ended June 30, 2025, the median public pension plan gained 11.3%, well in excess of the median assumed rate of return of 7.00%. This marks the third consecutive fiscal year where the median public DB plan’s return was well in excess of the assumed rate of return (2023: 8.9%; 2024: 10.6%). This bodes well for an improvement in funded status across public plans."  MORE >>

"Kimberly admitted she initialed the distribution terms and didn't claim fraud or any mutual legal mistake. Her objections didn't challenge the substance of the deal -- just side issues. So the court found the agreement binding.... Once material terms are clear, they're enforceable, ... The court didn't hesitate to sanction Kimberly via fee-shifting.... Lawyers aren't helpless just because they withdraw -- they're still owed fair compensation under quantum meruit." [Bennett v. The Prudential Ins. Co. of Am., No. 23-11070 (E.D. Mich. Aug. 26, 2025)]  MORE >>