Rev. Dec. 2025; 85 pages. "This publication gives you the information you need to determine the tax treatment of your pension and annuity income under the General Rule.... The General Rule is one of the two methods used to figure the tax-free part of each annuity payment based on the ratio of your investment in the contract to the total expected return."  MORE >>

"In response to recommendations from the [GAO], the IRS has made the new model notices easier for participants to read and is urging plans to make each notice available as soon as possible before the distribution date so the participant can make educated decisions about whether to receive or roll over the distribution.... Plan administrators that use the safe-harbor notice should switch to the new model notices as soon as possible."  MORE >>

"[S]ponsors of qualified and Section 403(b) plans have until December 31, 2027, to amend their plans for the RMD changes included in the 2025 RAL. The SECURE 2.0 RMD changes that were not included in the 2024 final regulations are expected to be included in a later RAL ... The 2025 RAL also states that the final regulations issued in 2025 regarding SECURE 2.0's Roth catch-up requirement for high earners are expected to be included in the 2027 RAL. If that proves to be the case, plan sponsors will have until December 31, 2029, to amend their plans to include the Roth catch-up provisions."  MORE >>

"In this article [the authors] explain why postmarks matter to retirement plans, clarifications in the final rule, and what plan administrative changes may be needed to ensure mail is timely postmarked, and [they] list the operational items plan sponsors and their advisors may need to review and potentially adjust going forward."  MORE >>

"[T]he court held that the plaintiff had Article III standing to seek plan reformation under Section 502(a)(2). The court emphasized that the plaintiff plausibly alleged a concrete injury -- reduced monthly benefits -- and that reformation of the plan's actuarial assumptions could redress that injury.... The court reaffirmed that Section 502(a)(2) claims are inherently representative and must be brought on behalf of the plan. Enforcing an individual-only arbitration clause would therefore operate as a prospective waiver of a statutory remedy[.]" [Duke v. Luxottica U.S. Holdings Corp., No. 24-3207 (2d Cir. Feb. 5, 2026)]  MORE >>

"Here is an example showing the results of comparing seven plans for a small business. The owner was willing to spend on staff an amount equal to 5.0% of their total combined payroll.... The results show the differences that can be obtained from various plan designs."  MORE >>

"This summary focuses on the responsibilities and role of ERISA fiduciaries in managing plan investments.... [1] Evaluate and update the investment structure ... [2] Draft and periodically review the Investment Policy Statement (IPS) ... [3] 404(c) and QDIA oversight ... [4] Review and monitor investment manager performance ... [5] Monitor and benchmark plan fees ... [6] Managed accounts evaluation and monitoring ... [7] Oversee required employee communications ... [8] Review overall plan utilization ... [9] Review defined contribution trends and overall plan effectiveness."  MORE >>

"Social Security constitutes half of income for the typical older adult. Income from retirement plans ... represents about a fifth of income on average.... The typical employee contribution rate to a defined contribution savings plan is between five and six percent and the typical employer contribution rate is just under three percent.... Retirement savings represent about a quarter of financial assets on average for the typical working adult, while home equity represents about a third."  MORE >>

"Delphi Technologies ... was spun off from General Motors (GM) in 1999. In May 2009, Delphi's pension plans were terminated, and responsibility for the payment of plan participants' benefits was turned over to the [PBGC]... Some participants in Delphi pension plans whose benefits were reduced by PBGC claimed that their pension plans were wrongly terminated and have sought relief via both judicial and legislative processes." [IF12171 updated Feb. 5, 2026]  MORE >>

"The EBSA's position falsely suggests that fiduciary prudence is an either-or proposition, while fiduciary prudence under ERISA actually requires consideration of both procedural and substantive prudence.This analysis argues that an exclusive focus on proceduralism is inconsistent with ERISA's legislative history, ignores the dual nature of fiduciary prudence, and creates a regulatory environment that favors the insurance industry over plan participants and at the expense of both plan participants and their beneficiaries."  MORE >>

"Perhaps the biggest open question: Will Trump Accounts be subject to ERISA? ... [Until] guidance arrives, employers face uncertainty about fiduciary obligations, reporting requirements, and administrative burdens.... Early adopters like the major financial institutions have the resources and expertise to navigate ambiguity. For most employers, waiting for final regulations and ERISA guidance before committing may be the prudent path."  MORE >>

"HR 7362, the Form 5500 Filing Simplification Act ... would extend the deadline for filing the form by almost three months.... This effectively would mean that the deadline for calendar-year plans to file the Form 5500 would be Oct. 15, not the current July 31."  MORE >>

"Nearly 70% of remote and hybrid workers say their work-life balance has improved over the past year, with a similar share reporting lower work-related stress compared with office-based work. Job confidence remains strong as well: 75% of workers feel secure in their roles, and close to 80% report high job satisfaction."  MORE >>