"Employees in New York State whose private-sector employers do not offer a retirement plan will soon be marching into coverage. The first registration deadline for New York Secure Choice, the state-run program into which such employees will be automatically enrolled, arrives on March 18.... [That] deadline applies to private-sector employers with 30 or more employees and that do not offer a plan."  MORE >>

"Participants 50 years and older own approximately 85% of stable value assets offered in retirement plans.... Stable value litigation has been increasing with most complaints following a similar pattern where plaintiffs identify a period when another fund provided higher returns and argue that the plan's selection and monitoring of its stable value fund was imprudent by comparison."  MORE >>

"The lack of alternatives in DC plans is not due to regulatory prohibition -- nothing in [ERISA] bars them -- but, rather, plan sponsors' fear of litigation.... Interviews with advisers and legal experts suggest that even favorable regulatory guidance may not lead to broader adoption of alternatives in DC plans."  MORE >>

"When a transactional mistake is made with retirement plan or IRA assets, there is oftentimes a mechanism to correct the error.... [S]ome transactional mistakes have no corrective steps.... Such missteps can create massive tax bills and result in unintended penalties. Many of these 'fatal errors' involve rollovers.... [1] Non-spouse beneficiary rollovers.... [2] Spousal rollover.... [3] Exceeding the one-rollover-per-year rule. "  MORE >>

"[T]here are several advanced ways annuities can be designed to support clients with early retirement, including: ... An annuity ladder, which includes annuities with staggered maturity dates ... Those with significant assets and philanthropic goals may want to consider pairing a CRT with an annuity.... Annuity splits."  MORE >>

"The report notes that from 2013 through 2023, the number of ESOP participants grew by 8%, driven largely by leveraged ESOPs and nonleveraged public company KSOPs. The number of nonleveraged stand-alone ESOPs declined.... [T]he report estimates that these firms employ 13,520 people and have a total combined revenue of $806 million, with the number of worker co-ops doubling over the last 10 years."  MORE >>

11 pages. "[On] a national basis, contributions made by employers -- states and local governments -- in 2024 accounted for 76 percent of all contributions received by public pension plans. The remaining contributions were paid by employees.1 A 2025 NASRA issue brief finds that contributions made by state and local governments to pension trust funds in recent years account for 5.1 percent of all non-federal spending."  MORE >>

"Managed accounts have been praised, criticized, and litigated -- often on the theory that they're little more than expensive target-date funds. However, a recent report actually quantifies their impact -- and turns out, it's not an investment story, it's behavioral."  MORE >>

"[1] Annuities fail the most basic investment principle: diversification ... [2] Participants are told they are 'guaranteed.' They are not told the guarantee depends on a lightly regulated balance sheet. [3] Pension risk transfer: swapping PBGC for private credit risk ... [4] The structural risk difference: insurance contracts vs. securities ... [5] Athene and the private equity model ... [6] Balance sheet reality: TIAA vs. Vanguard synthetic stable value ... [7] Hidden spreads: the $billions nobody sees ... [8] Pricing is arbitrary -- not risk-based."  MORE >>

"According to the [DOL], this is the most significant revision to EBSA's enforcement framework in recent years. The goal is to make investigations more efficient and responsive and to prioritize serious misconduct and abusive practices."  MORE >>

"The DOL identifies several concerns with the 2024 rule, including lack of clarity and predictability due to six broad, equally weighted factors with limited guidance on resolving conflicts among them, and overlapping concepts across factors that invite duplicative weighing. The DOL also cites a potential chilling effect on legitimate independent contracting ... Finally, the DOL views the 2024 rule as misaligned with Supreme Court precedent and the modern economy[.]"  MORE >>

"[Independent contractor (IC)] compliance and misclassification has been front-page news for many years.... While this proposed regulation may be construed as favoring IC status, it will likely increase attention on this matter and prompt more class action lawsuits by plaintiffs' attorneys, as an unintended consequence."  MORE >>

"[If] finalized, the Proposed Rule will be welcome news for employers and workers, as it provides to courts the regulatory agency’s interpretation of the economic realities test, including a modern, well-balanced, clear analysis that gives greater weight to the two core factors and interprets all factors in an even-handed manner consistent with decades of case law."  MORE >>