"The origination of the new Form 5498-TA is to comply with the requirements set forth in P.L. 119-21, Sec. 70204 and IRC Section 530A(i) which established Trump Accounts and contribution pilot programs. Form 5498-TA reports contributions, rollovers, basis or investment in the contract, and the fair market value (FMV) of the account for the calendar year shown on the form and is furnished by the trustee of the Trump account."  MORE >>

"This notice specifies updated static mortality tables to be used for defined benefit pension plans ... These updated static mortality tables ... apply for purposes of calculating the funding target and other items for valuation dates occurring during the 2027 calendar year. This notice also includes a modified unisex version of the mortality tables for use in determining minimum present value under Section 417(e)(3) ... for distributions with annuity starting dates that occur during stability periods beginning in the 2027 calendar year."  MORE >>

"While the reversion to the 1975 five-part test generally narrows the universe of ERISA fiduciaries, the DOL is simultaneously signaling through [Technical Release 2026-01] that proxy advisory firms will 'ordinarily' satisfy that same narrow test based on their typical business practices. "  MORE >>

"It is possible to prudently select an investment option that includes alternative investments, but it will take time and acquired expertise.... Fiduciaries who do decide to prudently offer alternative investments can start by using professionally managed funds or offering them through self-directed brokerage accounts.... While not mentioned in the guidance, communications with participants should clearly describe the risks and fees of the investments offered."  MORE >>

"[T]he Second Circuit affirmed the District of Connecticut's denial of class plaintiffs' motion for an accounting or post-judgment discovery, and the denial of reconsideration ... The class argued that the district court had erroneously imposed a requirement of actual noncompliance as a prerequisite to obtaining the requested relief. The Second Circuit rejected that characterization of the lower court's reasoning." [Amara v. Cigna Corp., No. 24-2913 (2d Cir. Apr. 24, 2026)]  MORE >>

"The [DOL] has previously lent its support to a number of different defendants in forfeiture reallocation suits. Now, they're asking to participate ... in Ninth Circuit oral arguments -- scheduled for May 20 -- in a suit challenging how HP Inc. handled forfeited contributions in its 401(k) plan." [Hutchins v. HP Inc., No. 23-5875 (N.D. Calif. Feb. 5, 2025; on appeal to 9th Cir. No. 25-826; DOL amicus brief filed Jul. 9, 2025)]  MORE >>

"Plaintiff's lawyers are using AI tools to help identify plans covered by [ERISA] to identify outliers and anomalies and target employers with lawsuits over their handling of investment choices and forfeiture funds, while defense attorneys are turning to AI for assistance with benchmarking and comparing fees and performance across plans. The nascent technology isn't without risks, with benefits attorneys pointing to hallucinations and the potential for lawsuits down the road if AI is used to second-guess fiduciaries."  MORE >>

"[Of] the 80% of respondents who use automatic enrollment, 20% are re-enrolling participants. The approaches used vary from periodically re-enrolling non-participants to auto-escalating all employees by one percent each year (including those with a 0% rate) and requiring opt-out of the escalation annually. Reasons for not re-enrolling include already high participation rates that don't need it, concern about it affecting employee trust and culture, and complexity."  MORE >>

"While employers await more guidance, here are some of the pros and cons to consider ... [Digital assets are an] unlikely choice for plan sponsors due to a lack of income generation, which could undermine fiduciary obligations and adherence to the prudent person standard.... The most likely entry for PE into 401(k) plans is through a target date lineup, where the PE allocation is part of a broader strategic asset allocation and liquidity is managed at the target date fund level."  MORE >>

"Many providers and firms are still stuck in silos, which inhibits their ability to fully leverage the new opportunities.... Convergence is the driving force bringing in wealth advisors, their broker/dealers and the asset managers that serve them. Private equity is fueling the growth of wealth by RPA aggregators, with some pushing RIAs to leverage DC plans to grow."  MORE >>

"The Proposed Rule would reinstate a four-factor test for determining 'vertical' joint employment and readopt a well-established criterion for 'horizontal' joint employment.... [T]he Proposed Rule would also align joint employer determinations under the Family and Medical Leave Act (FMLA) ... with the FLSA standard ... According to the DOL, the goal is to provide clarity and a measure of uniformity for employers, workers, and federal wage and hour enforcement alike."  MORE >>

"Some organizations have Employee Resource Groups (ERGs), also known as affinity groups, that provide support to groups of employees ... Not quite 40 percent of respondents indicated they have ERGs and of those that do, forty percent use those groups to provide tailored retirement plan education (15 percent of all respondents)."  MORE >>

"[1] Phantom stock is often the cleanest solution for private companies.... [2] SARs are similar to phantom stock but more focused.... [3] Performance-based compensation tied to measurable metrics can dramatically shift behavior in privately held businesses.... [4] Long-term incentive plans (LTIPs): Encourage strategic thinking ... [5] Profit-sharing ... A percentage of profits goes into a pool. Key employees receive allocations based on role, performance, or structure.... [6] Deferred compensation for senior leaders."  MORE >>