"A key decision for employers is whether to implement the deemed election process.... A plan may use either of the two new correction methods, but it must apply the same correction method to similarly situated participants.... The deadline to correct a failure using these correction methods depends on which limit is the basis for the redesignating pre-tax deferrals as catch-up contributions.... Special rules apply to dual-qualified plans (plans qualified under both U.S. and Puerto Rico law). "  MORE >>

"457(b) plans ... were neglected and excluded from the IRS Notice that extended the amendment deadline for other plans and governmental sponsors of 457(b) plans from the end of 2025 to the end of 2026.... Tax Exempt 457(b) Plans must be amended by the end of this year for the new RMD ages and it doesn't appear there will be any further extensions."  MORE >>

"SECURE 2.0 Act § 107, Increase in Age for Required Beginning Date for Mandatory Distributions ... applies to dual-qualified plans but not to Puerto Rico-only qualified plans. And since SECURE 2.0 Act § 125, Improving Coverage for Part-Time Employees, amended ERISA ... all ERISA-covered retirement plans in operation in Puerto Rico must comply with this change.... [D]ual-qualified 401(k) plans can safely and validly limit catch-up contributions by their Puerto Rico participants to a maximum of $1,500 per year, always on a pre-tax basis."  MORE >>

"The court issued tailored injunctions aimed at stewardship practices, fiduciary independence and transparency while declining to disturb the plans' investment structure.... [E]ven though there are no monetary damages, [the judgment] imposes significant restrictions on how American Airlines and its plan fiduciaries can manage their plans going forward.... ERISA fiduciaries should be taking steps to demonstrate how all investment decisions and shareholder engagement/proxy voting activities are driven by pecuniary objectives." [Spence v. Am. Airlines, Inc., No. 23-0552 (N.D. Tex. Sep. 30, 2025)]  MORE >>

"As plan sponsors grapple with the complexities of new investment options, they also face a very different and rapidly escalating threat -- AI-driven phishing attacks on retirement accounts.... The SECURE 2.0 provisions are nuanced, introducing new requirements for plan sponsors each year since 2023, and 2026 will be no different.... Litigation pressures are also expected to intensify, particularly around forfeitures and plan fees."  MORE >>

"Nearly half of respondents ... stated they just process all requests or allow self-certification while 20% stated that the plan limits the number of hardships per year. Some respondents state it's not their job to oversee it and people should be allowed to manage their money as they see fit, while others limit access. Most provide additional education or assistance with resources."  MORE >>

"Higher stocks again drove improvement in pension finances during September.... [T]raditional Plan A gained a fraction of 1%, ending the month up almost 6% for the year, while the more conservative Plan B gained a fraction of 1% last month, ending the month up more than 1% through the first three quarters of 2025."  MORE >>

"The aggregate funded ratio for U.S. corporate pension plans is estimated to have increased by 0.4 percentage points in September, ending the month at 102.6% ... The aggregate funded ratio is estimated to have increased by 2.0%, 4.8% and 1.0% in the third quarter, year-to-date and over the trailing twelve months, respectively."  MORE >>

"[M]any SECURE 2.0 projects are still on the list. And, many OBBBA projects made the list, including changes to Code sections 162(m), 4960, and 223.... Several important guidance projects have been dropped, including a longstanding guidance project on VEBA and other welfare benefit funds under Code sections 419, 419A, etc."  MORE >>