"[Rev. Proc. 2026-4] outlines user fees for IRS opinion and determination letters and VCP fees, among others. The new fees are effective as of January 1, 2026. In particular, the user fees for VCP filings are up $500 at each level.... If you are requesting a determination letter of any sort, you will also experience increased fees."  MORE >>

"Litigation reform and the Supreme Court's Cornell decision ... Risk transfer litigation ... Alternative assets Executive Order.... Proxy advisory firm Executive Order.... DOL intends to revise ESG regulation.... Aronowitz confirmed as EBSA head ... DOL advisory opinion on lifetime income QDIA.... DOL 'non-enforcement' policy for transfers of small retirement benefits to state unclaimed property funds.... DOL files amicus briefs requesting Supreme Court review of two key ERISA fiduciary decisions and supporting sponsor fiduciaries.... Forfeiture litigation."  MORE >>

"The [DOL] has withdrawn its previous support of plaintiffs in a case concerning the burden of proof involving a university 403(b) plan. The suit against Yale University was one of the first to be filed against university 403(b) plans ... in August 2016." [Vellali v. Yale Univ., No. 16-1345 (D. Conn. Jun. 28, 2023; on appeal to 2d Cir. No. 23-1082)]  MORE >>

"Delta Air Lines and [the named] plaintiffs ... agreed to stay court proceedings for 120 days as the parties explore a settlement in a legal case that accuses the airline of spousal pension underpayment. The complaint ... filed in December 2021, alleges that the airline violated [ERISA] by using outdated actuarial assumptions, which resulted in lower retirement benefits payments for married employees who chose joint-and-survivor annuities." [DuVaney v. Delta Airlines Inc., No. 21-2186 (D. Nev. complaint filed Dec. 10, 2021)]  MORE >>

"Many firms are at a crossroads. Baby Boomer founders are preparing to retire, while younger professionals, ambitious, curious, and digitally fluent, cycle through roles faster than ever. The result is a widening talent gap, an urgency for succession planning, and a real need to rethink how we build and sustain advisory teams for the next decade. But here’s the opportunity. This period of change can also be your greatest growth window if you approach it strategically."  MORE >>

"There really is no such thing as a 'kind of' correction with a qualified retirement plan. An error is either fixed or it's not. A plan either remains qualified or it doesn't. There is nothing in between. Some people do not understand this or choose to ignore it, putting their company's entire qualified retirement plan (and all the employees' money in it) at risk of taxes and penalties. So, what's the best way to handle these situations?"  MORE >>

"Plan fiduciaries must document annual fiduciary training (meeting minutes or certifications). 404(c) protections require ongoing proof of compliance; they are not an evergreen arrangement just because the plan document states the intention to comply. Implementation and documentation of a prudent process is the strongest defense against audits, IRS actions, or lawsuits."  MORE >>

"[TIAA's] retirement security Policy Roadmap ... aims to provide an actionable, bipartisan path forward for employers, workers, and policymakers to improve retirement outcomes for America's workers.... [T]he Policy Roadmap calls for ... defined contribution plan sponsors to set default employee contribution rates at 6% with annual auto-increases, and for retirement policymakers to require minimum default contribution rates of 6% for plans with annual auto-increases."  MORE >>

"Before embarking on a pension risk transfer or plan termination, plan sponsors should think about their goals, which may range from reducing administrative costs and insurance premiums to managing risk and internal workforce changes.... The plan termination process can take 18 months or more. Taking key strategic steps -- including adjusting the investing strategy and cleaning up participant data -- can help smooth the process."  MORE >>

"WTW examined pension plan data for 349 Fortune 1000 companies that sponsor U.S. DB pension plans and have a December fiscal year-end date. The aggregate pension funded status of these plans at the end of 2025 is estimated to be 104%, an increase from 101% at the end of 2024. Pension obligations declined slightly from $1.16 trillion at the end of 2024 to an estimated $1.11 trillion at the end of 2025."  MORE >>

"Section 280E of the Internal Revenue Code prevents taxpayers from claiming deductions for expenses related to carrying on a trade or business that involves trafficking Schedule I or II substances under the Controlled Substances Act (CSA).... In a non-leveraged ESOP, company contributions to the ESOP to buy shares are tax-deductible. In a leveraged ESOP, the company makes tax-deductible contributions so the ESOP can repay acquisition debt. The key benefit for cannabis operators is that ESOPs do not pay federal income tax on their proportionate share of S-corporation income."  MORE >>

"According to the Federal Trade Commission's annual report to Congress released earlier this month, adults age 60 and older reported $2.4 billion in scam losses last year, which is an increase of 26.3% from $1.9 billion in 2023 and a 300% jump from $600 million in 2020. To avoid wasting your retirement savings, here's how to spot and stamp out 401(k) and retirement account fraud so you can keep your savings safe."  MORE >>

"Social Security faces long-term financing challenges that require action.... Recent proposals ... call for drastic changes, shifting the Social Security program from focusing on wage replacement to poverty alleviation. While reducing the federal budget deficits, these plans face strong political opposition and require long, phased implementation. Properly measured, elderly poverty is only about 6%, making such drastic changes unnecessary for a successful, popular program.... [S]olvency and poverty reduction can be achieved through modest, bipartisan tax and benefit adjustments plus targeted safety net improvements."  MORE >>

"This revenue procedure explains how the [IRS] (Service) provides advice to taxpayers on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements Office (Employee Plans Rulings and Agreements). It also details the types of advice available to taxpayers, and the procedures for requesting and receiving such advice."  MORE >>

"Employers may make their employer contributions or may facilitate employee salary reduction contributions. The employer contributions will not be taxable income to the employee. The employee salary reduction contributions will be taken on a pre-tax basis. In order for either type of contribution to occur, the employer must adopt a Trump Account Contribution Program."  MORE >>