"[Notice 2026-33] speaks to Section 334 of SECURE 2.0 which permits participants to make distributions from their DC plan account to pay premiums for a qualified long-term care insurance contract. Participants may make annual distributions totaling the lesser of the cost of the premiums, 10% of their vested benefit, or $2,600 for 2026 (indexed)."  MORE >>

"The guidance applies to clients with 401(k) plans and other defined contribution retirement plans. Sponsors can choose whether to offer the LTCI payment distribution option. Eligible clients can use at least $2,600 of the assets per year to pay for LTCI coverage without paying an early distribution penalty."  MORE >>

"[O]nce the regulation is finalized, there [is likely to] be a challenge to the DOL's authority to grant a regulatory safe harbor of this type. The key question is whether this regulation limits the scope of the prudent person rule of ERISA.... [S]ection 505 was not broad enough to allow the DOL to write a new regulation defining fiduciary advice, so it may not be broad enough to allow a grant of a fiduciary safe harbor."  MORE >>

"[In] making a qualified long-term care distribution, [Notice 2026-33 provides that] the plan administrator can rely on the long-term care premium statement furnished by the issuer to the plan at the request of the participant.... [T]he Notice announces a limited extension just for this feature. The new amendment deadline for adding this distribution option is December 31, 2027 (collectively bargained and governmental plans still have their extended deadlines)."  MORE >>

15 pages. "The question presented in this case is whether the 'as of' language sets the measurement date as the deadline by which actuaries must select the assumptions that underlie the withdrawal-liability calculation. The Court of Appeals for the D. C. Circuit held that it does not, concluding that actuaries may select their assumptions after the measurement date. We agree. The statute governing the selection and use of actuarial assumptions in the withdrawal-liability context contains no requirement that actuaries use assumptions adopted prior to the measurement date." [M&K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 23-1209 (S. Ct. May 21, 2026)]  MORE >>

"The plan's qualified default investment alternative -- a suite of custom target-date funds spanning vintages from 2025 through 2060 -- allegedly underperformed its benchmarks and was invested largely in other challenged funds, effectively compounding the harm." [Rivetti v. American Express Co., No. 26-4082 (S.D.N.Y. complaint filed May 15, 2026)]  MORE >>

"A divorce should trigger a comprehensive review of beneficiary designations across all retirement accounts and related benefits ... [A]ny changes must be made using the plan's required process. A fax, letter, email, or even a provision in a will or divorce agreement may reflect intent, but it may not be sufficient to change the beneficiary if it does not meet the plan's procedural requirements. Finally, it is important to confirm that the change has actually been completed." [Packaging Corp. of Am. Thrift Plan for Hourly Emps. v. Langdon, No. 25-1859 (7th Cir. Feb. 2, 2026)]  MORE >>

"Retirement industry stakeholders appear split on the [DOL's] proposed safe harbor for alternative investments in defined contribution plans, with public comments revealing sharp divides over fees, risk, liquidity standards and fiduciary liability.... [I]ndividuals and organizations have weighed in during the public comment period, with some praising the regulatory clarity and others warning that the six-factor framework doesn't go far enough to protect plan sponsors or participants."  MORE >>

"[O]nly about one-third of DC plan advisors are familiar with PEPs ... About 17% of occasional advisors are familiar with PEPs ... These occasional advisors don't focus on defined contribution, they don't focus on workplace, and they only generate up to 20% or so of their practice income from their defined contribution advising."  MORE >>

"A majority of firms – 55% of respondents – have integrated AI into at least one of their investment processes, while 27% report integrating AI as a pilot or proof-of-concept.... 69% of firms cited enhanced operational efficiency, and 55% cited faster or higher‑quality insights. Only 8% of firms reported measurable improvements in investment returns from implementing AI, and 8% reported reducing portfolio volatility."  MORE >>

"Workers for Philadelphia-based businesses or nonprofits that have been in operation at least two years and do not offer a 401(k), pension, or other retirement plan would be eligible to participate and enroll their workers, with contributions at a rate of three to six percent of wages automatically deducted into a Roth IRA (or traditional IRA, or both)."  MORE >>

"The mainstream retirement industry keeps pretending annuities are equivalent to government-backed guarantees. They are not. They are unsecured obligations of highly leveraged insurance companies increasingly tied to private equity and private credit risk. That distinction matters enormously under ERISA."  MORE >>

"Section 401(a)(39)(E) of the Internal Revenue Code permits distributions from a defined contribution plan for the payment of certified long-term care insurance premiums if certain disclosure requirements are met, including that the issuer of the certified long-term care insurance must file an 'Issuer Disclosure' with the IRS. IRC Section 401(a)(39)(E)(iii) provides that a long-term care premium statement will be accepted by a defined contribution plan only if you (the issuer) file an Issuer Disclosure with the IRS describing the specific coverage life insurance product that is the subject of the long-term care premium statement. Use the procedures on this webpage to make an Issuer Disclosure only if you plan on filing a long-term care premium statement with a defined contribution plan with respect to a policyholder's request for qualified long-term care distributions."  MORE >>

"[FAB 2026-01] [1] Prioritizes egregious misconduct, participant harm, and fiduciary loyalty breaches; flags ESG-driven decisions as potential disloyalty.... [2] Limits actions to ERISA text, final regs, guidance, and case law; curbs novel theories; impacts ESOP valuation and prudence-only claims.... [3] Leadership review of significant matters; 18-30 month timelines; reinforces independence from plaintiff firms."  MORE >>

"The [DOL] recently released guidance explaining when the agency considers proxy advisors to be acting as ERISA fiduciaries. DOL Technical Release 2026-01 ... also says DOL believes ERISA doesn't preempt state laws that require proxy advisors to disclose when recommendations involve consideration of nonfinancial factors. The guidance applies to proxy advisory services for both retirement plans and funded health and welfare plans, such as voluntary employees' beneficiary associations (VEBAs)."  MORE >>