"Investment management services may incorporate investment alternatives such as lifetime income products and features as QDIAs as long as they satisfy the QDIA regulation’s transferability requirements and other provisions, says [Advisory Opinion 2025-04A]. The DOL adds that the discussion in the QDIA regulation regarding variable annuity contracts does not preclude use of an LIS in an investment management service."  MORE >>

"[T]he IRS did not extend the administrative transition period with respect to the Roth catch-up requirement for higher earners, which must still be implemented by 2026. The final rules nonetheless offer plan administrators helpful -- albeit last minute -- guidance on several aspects of administration, including operation of the deemed Roth catch-up election, an optional employer aggregation rule, and greater flexibility for corrections."  MORE >>

"While the plan sponsor would have to contribute any matching contributions with earnings that were missed as a correction, because of the circumstances, no QNEC was required.... Relying on AI alone could have exposed the plan sponsor to a costly, unnecessary QNEC of $50,000 plus earnings in this example.... The IRS offers a framework for correcting this mistake through the Employee Plans Compliance Resolution System (EPCRS)[.]"  MORE >>

"[The Cunningham] ruling is somewhat puzzling, since to state a plausible claim sufficient to survive a motion to dismiss, it would seem plaintiffs would still need to do more than merely assert a prohibited transaction.... On the other hand, the Cunningham ruling may make it more difficult for retirement plan sponsors and parties in interest to dismiss cases at the outset of the litigation and may subject those parties to costly discovery." [Cunningham v. Cornell Univ., No. 23-1007 (S.Ct. Apr. 17, 2025)]  MORE >>

"The appellate court agreed with the bankruptcy court that the relevant language in MPPAA permitted the two plans to enforce their contract with Yellow and demand liability at the contractually-bargained-for rate, despite that rate being higher than Yellow's actual contributions at the time." [In re Yellow Corp., No. 25-1421 (3d Cir. Sep. 16, 2025)]  MORE >>

"[T]he plaintiff alleged that WillScot breached its fiduciary duties under [ERISA] because the plan's documents 'required' WillScot to use the forfeitures to pay for the administrative expenses before later using them to reduce contributions. However, [the judge] ruled that WillScot did not violate its duty to act in accordance with the plan or its duty of loyalty, since 'the plan terms and the law allow WillScot to reallocate forfeitures for plan contributions.' " [Armenta v. WillScot Mobile Mini Holdings Corp., No. 25-0407 (D. Ariz. Sep. 15, 2025)]  MORE >>

"Government employees who use artificial intelligence (AI) technology at work are more than twice as likely to incorporate it to retirement planning compared to those who don't ... [A]mong employees who are comfortable using AI, 82% expressed interest in applying it for retirement planning and were likelier to believe that the tool boosts retirement preparedness."  MORE >>

"Advisers' compensation structure has greater influence on the equity allocation they recommend than their views on the relative risk of investing in stocks and their risk premium, according to a [recent study] ... The study also found that advisers tend to advise greater allocations to equity for investors with an average risk tolerance than those investors would prefer, but advise a proportion to low-risk clients that is similar to their preference."  MORE >>

"[E]stimates from the Morningstar study ... show that, depending on the behavioral response, the Saver's Match could increase retirement wealth at 65 for Gen Z and Millennials by 8 to 12 percent ... Since Roths are currently used in state auto-IRA programs, the states will need to ensure that workers have access to a separate traditional account for receiving the Saver's Match. So far, they appear to be stepping up, but the withdrawal process may still be hard for workers to understand."  MORE >>

"Aronowitz's appointment signals a potential turnaround in EBSA's regulatory posture, with implications for ongoing litigation, compliance strategies and fiduciary risk management. His leadership is expected to bring a more pragmatic and business-friendly approach to EBSA's enforcement and rulemaking priorities."  MORE >>