"The Third Circuit affirmed the Bankruptcy Court's order in full: [1] PBGC's Phase-In and No-Receivables Regulations were valid exercises of authority under ARPA and not arbitrary or capricious under the APA. [2] The major questions doctrine did not apply, because Congress clearly delegated authority to PBGC regarding special financial assistance and withdrawal liability. [3] Yellow's contractual agreements with two pension funds to pay withdrawal liability at 100% contribution rates were enforceable, as the MPPAA sets a liability floor but does not prevent employers from agreeing to higher obligations." [In re Yellow Corp., No. 25-1421 (3d Cir. Sep. 16, 2025)]  MORE >>

"This is a suit against the provider, not the plan sponsor. The complaint alleges that Empower -- which functioned primarily as plan recordkeeper (an administrative, not a fiduciary function) -- was nevertheless a fiduciary.... Casting the provider as defendant allows plaintiffs (and their attorneys in this class action) to sue (and claim relief/damages with respect to) all the plans Empower is recordkeeper for, increasing (by orders of magnitude) the dollar value of this lawsuit." [Williams‑Linzey v. Empower Advisory Group, LLC, No. 25‑14660 (D.N.J. complaint filed Aug. 15, 2025)  MORE >>

"According to the lawsuit, the firm allegedly permitted high administrative and investment management fees that disadvantaged the participants, without adequate due diligence to explore better options. It suggests that Husch Blackwell's oversight or lack thereof led to unnecessary financial burdens on employees participating in the 401(k) plan." [Paetkau v. Husch Blackwell LLC, No. 25-0721 (W.D. Mo. complaint filed Sep. 16, 2025)]  MORE >>

"Cryptocurrency markets operate with minimal regulatory oversight compared to traditional financial markets.... The inherent volatility of cryptocurrency markets presents significant challenges for retirement planning.... Integrating cryptocurrency into retirement plans requires careful compliance and due diligence efforts.... Cryptocurrency investments can be complex and challenging to understand ... The long-term viability of cryptocurrency as a retirement investment remains uncertain."  MORE >>

"When a plan changes custodians during the year, the transfer of assets from the old to the new custodian typically creates many recordkeeping challenges and audit issues.... Late remittances of employee contributions continues to be the most common issue noted [in] plan audits.... Plan sponsors are not reviewing the SOC-1 reports of the key service providers ... [D]efinition of compensation issues continue to pop up[.]"  MORE >>

"[T]he Unclaimed Retirement Rescue Plan [HR 5325] would direct the [DOL] to issue a regulation that would permit retirement plan fiduciaries to 'transfer unclaimed retirement distributions to state unclaimed property programs.' ... Before transferring the balance, the fiduciary must first try to contact the participant by sending notices, among other requirements. The fiduciary must also report the transfer for the DOL so the data can be used for the Lost and Found database."  MORE >>

"During August, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.1% to 100.0% of a plan's accounting liabilities (accumulated benefit obligation, or ABO). That means the estimated retiree PRT cost is now 100.0% of -- that is, the same as -- a plan's ABO."  MORE >>

"There are several arbitrations and even lawsuits over the Plan which Morgan has been defending for years. In those cases, the plaintiff-advisors maintain that the Plan is subject to ERISA and violates its minimum vesting rules. Morgan has been winning many arbitrations. However, in July the United States Court of Appeals for the Second Circuit held the Plan was subject to ERISA and the plaintiff's in the class action could go to arbitration with their claims.... The DOL's Advisory Opinion gives Morgan even more ammunition to defend the arbitrations and may even chill future claims." [Shafer v. Morgan Stanley, No. 24-3141 (2d Cir. Jul. 9, 2025).]  MORE >>

"The employer claimed that it had received consent because it had revised its SPD to include the arbitration agreement and to inform participants that their continued participation in the plan would constitute consent to arbitration. The court responded that the SPD the employer sent to participants was 170 pages long." [Platt v. Sodexo, S.A., No. 23-55737 (9th Cir. Aug. 4, 2025)]  MORE >>

"With so many people opting to strike out on their own, ... some professional groups are setting up systems to make it a little easier for the entrepreneurial-minded, offering group health insurance and, in some cases, retirement funds.... Long-time freelancers and contract workers, though, say that while it's nice to have those as a backstop, the smartest thing to do is to find a good financial professional and consult with them first."  MORE >>