"Although [Technical Release 2026-01] does not reflect a change in law, it highlights the DOL's current policy posture and serves as a reminder that proxy voting arrangements involving ERISA plan assets can carry fiduciary implications for both plans and their service providers. In light of that framing, asset managers that provide proxy voting services for ERISA clients (directly or indirectly) may want to review any existing proxy advisory engagements."  MORE >>

"This article will examine why the DOL published the Technical Release 2026-01, who is considered an ERISA fiduciary, why the DOL believes proxy advisors are fiduciaries, and what this means for plan sponsors."  MORE >>

"SECURE Act 2.0 modified [the] rule for an employer that replaces its SIMPLE IRA plan mid-year with a safe harbor 401(k). In that specific scenario, the SIMPLE IRA owner can roll over the account to the newly established safe harbor 401(k) without triggering the early distribution penalty, regardless of the two-year waiting period. Distribution restrictions in the new plan apply to the rollover, however."  MORE >>

"In ruling on Franklin's motion to dismiss, U.S. District Judge Vince Chhabria concluded that the suit 'plausibly alleged' that -- in the period prior to the amendment of the Plan in 2023 -- the relevant Franklin Defendants breached their fiduciary duties under ERISA by loading the Plan's investment options with Franklin-affiliated funds." [Ang v. Franklin Resources, Inc., No. 25-6130 (N.D. Calif. Apr. 17, 2026)]  MORE >>

"[A]dvisors who are permitted to are routinely recommending allocations of 1% to 5%, depending on the client, with 10% of advisors recommending allocations of 10% or more.... [E]xchange-traded funds are the overwhelming preference for both advisors and their clients[.]"  MORE >>

"[T]he Saver's Match Simulation [is] a ten-year, discrete-event simulation developed by Retirement Clearinghouse to evaluate not just the policy, but the infrastructure required to deliver federal matching contributions accurately and efficiently.... The results point to a clear conclusion: the Saver's Match Program can succeed at national scale, but only if it is paired with a specific solutions model built around a centralized clearinghouse, sophisticated locate-and-match technology, and transitional retirement accounts known as Saver's Match IRAs, or SMIRAs."  MORE >>

"The estimated funded status of the 100 largest U.S. public pension plans fell during March from 87.0% as of February 28, 2026, to 83.7% as of March 31, 2026 ... The geopolitical shock tied to escalating conflict in the Middle East caused a sizable monthly downturn in investment markets and drove this result. It came on the heels of a new PPFI highwater mark in funded status at the end of February. The PPFI last recorded a negative monthly asset return a year ago, during March 2025."  MORE >>

"The for-cause termination resulted in the automatic forfeiture of defendant's vested and unvested units under the Incentive Unit Grant Agreement. .... The Court emphasized that courts must examine whether adequate consideration was received at the time the contract was formed and that any subsequent diminishment in the value of the benefit does not negate consideration. Notwithstanding that the value units were 'somewhat contingent' at the time they were awarded, the Court found that value was not 'illusory.' " [North American Fire Ultimate Holdings, LP v. Doorly, No. 142, 2025 (Del. Feb. 3, 2026)]  MORE >>