"The DOL is signaling that how plan fiduciaries make decisions matters more than what they ultimately select. A robust, well-documented investment selection process, grounded in the proposed rule's six factors, will be critical to managing fiduciary risk, particularly as plans consider more complex or alternative investment options. The proposed rule provides a roadmap for how fiduciaries should select (and ultimately monitor) investments, and how to document their process."  MORE >>

"[Morningstar's] diversified test portfolio gained 18.3% in 2025, compared to 13.3% for a basic 60/40 portfolio consisting of U.S. stocks and investment-grade bonds.... [T]raditional methods outperformed in the long-term ... Over a 10-year period, 60/40 portfolios delivered higher risk-adjusted returns at 9.55%, compared to 8.19% for diversified portfolios. In two decades, traditional portfolios returned 9.68% relative to 7.13% for diversified portfolios."  MORE >>

"Reviewing the investment policy statement (IPS) was the most prevalent fiduciary action taken in 2025, consistent with 2024.... Plan governance and process returned as the top area of focus for DC plan sponsors in 2025 ... In 2025, relatively few respondents reported they currently include or are considering alternative investments in their DC plans' TDFs.... About 7 in 10 plan sponsors calculated their recordkeeping fees within the past 12 months.... 78% calculated investment management fees within the past 12 months ... All respondents offered some type of advisory service to participants."  MORE >>

"The city carries more than $36 billion in unfunded pension liabilities across its four primary funds ... Simultaneously, over 20,000 city-owned vacant lots sit idle ... [This] proposal offers a new framework: micro-districting.... [T]his model converts dormant public-sector assets into recurring revenue rather than one-time windfalls.... [By] transforming long-standing liabilities into investable assets ... this approach offers a fiscally sound, politically feasible, and equity-focused path forward."  MORE >>

"[I]ndividuals and businesses in Mississippi affected by the severe winter storm that began on Jan. 23, 2026 ... now have until June 8, 2026, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in [all 82 counties of] Mississippi qualify for tax relief."  MORE >>

"The overall shift [described in FAB 2026-01] seems to be an emphasis on violations of loyalty, rather than prudence. At a high level, this suggests a lowered focus on technical mistakes, good-faith process errors, and 'gray-area' interpretations -- and a heightened emphasis on self-dealing, hidden conflicts of interest, misuse of plan assets, and acting for reasons other than participants' benefit."  MORE >>

"Democrat leaders in the House of Representatives called on the Inspector General for the [DOL] to look into why the ERISA Advisory Council (EAC) has not met since 2024 and has not been carrying out its required duties or swearing in new members."  MORE >>

"On January 1 a new California law (AB 692, enacting California Business and Professions Code section 16608) became effective. It broadly regulates payments to employees or independent contractors that are subject to repayment. As applied to executives, the law potentially invalidates any payments subject to repayment (such as buyout awards when executives are newly hired), unless they fit within a specific and detailed exception."  MORE >>

"For leaders of compensation planning, the rise of artificial intelligence (AI) creates new unknowns. Proxy voting is one immediate example. This season marks the first year that the full capabilities of generative AI will be available to -- and increasingly used by -- investors as a supporting tool for their proxy voting process."  MORE >>