Rev. Dec. 2025. Eligible small employers use this form to claim the credit for qualified startup costs incurred in establishing or administering an eligible employer plan.  MORE >>

"This latest IRS publication of 'no ruling' areas [Rev. Proc. 2026-3] ... adds section 420 transactions as a 'no rule' area, including where the employer is asking for guidance on the use of the 401(h) account assets that may have involved a section 420 transfer. And Rev. Proc. 2026-3 continues the IRS 'no rule' position on spinoff-termination transactions  ... where less than all of the surplus assets are being spun off[.]"  MORE >>

"[T]he maximum annual elective deferral cap of $20,000 applicable to a Puerto Rico resident employee participating in a dual qualified retirement plan is increased to $22,000 for 2025 and $22,500 for 2026.... Puerto Rico employees participating in a retirement plan qualified only under the PRIRC continue to be subject to the annual elective deferrals limit of $15,000[.]"  MORE >>

"Besides making routine revisions for dates, cross-references and citations to other revenue procedures, Rev. Proc. 2026-4 includes an update regarding refunds of user fees, clarification of the electronic filing requirement for all Form 5300 series determination letter requests and increases in certain user fees."  MORE >>

"The 2025 forms are largely the same as the 2024 versions, but include the following new defined benefit (DB) plan characteristic codes on Line 8a of Form 5500: [1] 1G for a plan using a variable annuity benefit formula ... [2] 1J for a PBGC-covered multiemployer plan that terminated by mass withdrawal; [3] 1K for a PBGC-covered multiemployer plan that terminated by plan amendment; [4] 1L for a PBGC-covered multiemployer plan that was insolvent as of the end of the plan year."  MORE >>

"[T]he DOL argued that the plaintiff's claims of fiduciary breach do not hold up under the plan's documents. The DOL pointed out that the plan 'expressly permits the fiduciary to use forfeited contributions to offset employer contributions or to pay the employer's share of administrative expenses.' " [Wright v. JPMorgan Chase & Co., No. 25-0525 (C.D. Calif. Jun. 13, 2025, on appeal to 9th Cir. No. 25-4235; DOL amicus brief filed Jan. 8, 2026)]   MORE >>

"A federal judge in California invoked a little-used procedural rule last month to force plaintiffs in an ERISA prohibited transaction lawsuit to spell out their factual case before discovery begins ... By requiring a so-called 'Rule 7' reply, [the judge] signaled that the plaintiffs may be required to do more than allege technical statutory violations before imposing on defendants the heavy burdens of discovery. The requirement could be used in other courts to counter the recent Supreme Court decision." [Dalton v. Freeman, No. 22-0847 (E.D. Calif. Dec. 30, 2025)]  MORE >>

"The opportunities are real, but so are the operational, legal, and reputational implications for any manager who accepts 401(k) capital.... For managers ... there is now a clear policy tailwind for defined contribution plans to invest into private markets. However, no regulatory guidance or statutory efforts have been made to relax the DOL's core standards regarding investment management by plan fiduciaries ... The foregoing creates several practical implications."  MORE >>

"The plaintiffs chose to abandon their petition rather than risk Supreme Court review after the [DOL] urged the Court to hear the case and reject the plaintiffs' legal theory,' said Solicitor Jonathan Berry. 'The department made the facts clear: ERISA does not impose a special burden-shifting framework requiring defendants to disprove loss causation." [Pizarro v. Home Depot, No. 22-13643 (11th Cir. Aug. 2, 2024; cert. pet. filed Dec. 3, 2024; DOL amicus brief filed Dec. 9, 2025; motion to dismiss filed Jan. 7, 2026)]   MORE >>

"Proxy voting should not be a rote box-checking exercise. It is a discretionary act within a relationship of trust that can influence corporate behavior, shareholder value, and client outcomes. A fund manager should be free to ask itself tough questions and to act in accordance with the honest answers."  MORE >>

"The main critique of the Social Security program ... is that it operates on a pay-as-you-go basis, which makes it very vulnerable to demographic shifts.... The appeal of the Australian system to organizations ranking national retirement systems is that the main plan is fully funded and protected from demographic shifts, and the Age Pension ensures that no one falls below any adequate standard of living."  MORE >>

"[T]he pension reforms that [a recent study] claims are detrimental to employees often lead to better benefits and retirement security, while ensuring the sustainability of retirement systems. These reforms also prevent pension debt from crowding out essential public services during economic downturns -- ensuring that state and local governments can continue to serve their communities."  MORE >>

Rev. Dec. 2025. "Use Form 4547 to make the election to establish an initial Trump account for the exclusive benefit of a child who is eligible for a Trump account. Also, use Form 4547 to make an election for a $1,000 pilot program contribution from the U.S. Treasury to a child's Trump account if they are eligible for the contribution." [Also available: IRS Form 4547, Trump Account Election(s), and IRS Form 8879-TA, IRS e-file Signature Authorization for Form 4547, Trump Account Election(s)]  MORE >>

"[B]eginning July 4, 2026, employers may contribute to the Trump Accounts (TAs) of their eligible employees or the employees' dependents through a Trump Account Contribution Program (TACP).... [E]mployers making contributions pursuant to a TACP must affirmatively indicate to the TA trustee that the contribution is an employer contribution excludable from the employee's gross income."  MORE >>

"According to Internal Revenue Code Section 7502, when you mail a tax form, payment, or other document, the date shown on the USPS postmark is considered the date your item was received by the required entity ... However, in light of the new way the USPS processes mail, the postmark date might actually be after the day you gave your item to the USPS. This means your document could be considered sent later than you expected, depending on when it gets processed and stamped. As year-end contribution and reporting deadlines approach, those still using the USPS and relying on a postmark date as proof of timely contribution, delivery, or filing should be aware of these developments."  MORE >>