"The 2026 Cumulative List covers a host of changes for recently issued regulations and significant pieces of legislation, including the Setting Every Community Up for Retirement Enhancement (SECURE 1.0) Act of 2019, the SECURE 2.0 Act of 2022, the Coronavirus Aid, Relief, and Economic Security Act, the Bipartisan American Miners Act of 2019, and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. Many of the legislation-related changes were explicitly excluded from Cycle 3 review."  MORE >>

"By endorsing a cumulative headcount method for the 'substantially all' test, the 8th Circuit Court of Appeals' decision provides a participant‑level measurement methodology for plans and employers within that circuit and may be persuasive authority for courts in other circuits looking at this issue. Plans that had been using month‑by‑month headcounts or other approaches may need to reevaluate their methodologies to avoid inconsistency with this interpretation[.]" [General Electric Co. v. Boilermaker-Blacksmith National Pension Trust, No. 25-1442 (8th Cir. May 26, 2026)]  MORE >>

"The court noted that ERISA defined 'present value' as 'the value adjusted to reflect anticipated events,' and that 'anticipated events' contemplated 'a connection to real-world data and realistic premises' ... [T]he court held that plaintiffs plausibly alleged that the QPSA charges also violated ERISA's nonforfeiture rule. The court explained that ERISA allows plans to deduct charges for providing a preretirement survivor annuity, but under Treasury regulations these charges must 'reasonably reflect[] the cost of providing the QPSA[.]' For the reasons already advanced by the court, calculation of these charges required 'reasonable, realistic actuarial assumptions.' " [Drummond v. Southern Company, No. 24-12773 (11th cir. May 26, 2026)]   MORE >>

"Just over one year ago, the US Supreme Court addressed the pleading requirements for prohibited-transaction claims under ERISA ... The Court recognized the 'serious concern' that its decision could lead to an 'avalanche of meritless litigation,' and suggested five tools that district courts could use to screen out meritless, 'barebones' suits.... While the Supreme Court's five suggestions have not been widely adopted in the year since Cunningham, three of them have been utilized at least once, showing that courts are willing to use these tools in the right circumstances."  MORE >>

51 pages. "This paper focuses on income as the foundation of retirement security.... The goal is ... to provide a clear framework for making confident spending decisions, understanding the trade-offs of those decisions, and navigating retirement with greater peace of mind.... [F]our principles for retirement income are: [1] Start with purpose ... [2] Cover the essentials ... [3] Make your wealth last ... [4] Simplify."  MORE >>

"Whereas the federal government previously exerted itself through a mix of tax deductions, exclusions, credits, and deferrals, the current Administration is pursuing a more engaged role. Building on the successes of 2022's SECURE Act 2.0, the One Big Beautiful Bill Act, and a slate of executive orders, the Administration has sought avenues to put money directly in Americans' pockets, or rather, their retirement accounts."  MORE >>

"State insurance regulators are seeking to reopen a key annuity illustration model regulation as they consider a significant overhaul of how illustrations are used in the sales process.... [R]egulators are weighing revisions addressing illustration length, disclosure requirements, accountability measures and how insurers present non-guaranteed crediting rates.... The group is simultaneously considering a temporary 'stopgap' approach through an actuarial guideline that could be used before any model revisions are adopted by individual states."  MORE >>

13 pages. " Selling to an ESOP is expensive, usually costing 2% to 4% of the sale price,... The cost of selling to a non-ESOP buyer generally ranges from 4% to 9% of the deal, ... [M]any sellers balk at the costs of setting up an ESOP, even if they will ultimately pay more to sell to another buyer.... In an ESOP sale, the company pays some of the fees up front and the rest at close. While these fees are tax-deductible and thus have a significantly lower real cost, they still come up front."  MORE >>

"In mid‑2025, 44% of US households owned IRAs. Traditional IRAs were the most common type of IRA owned (33% of US households), followed by Roth IRAs (28%) and employer-sponsored IRAs (4%).... All told, nearly three‑quarters of US households had retirement plans through work or IRAs; being later in the lifecycle of saving, 86% of near‑retiree households did.... In mid‑2025, 61% of traditional IRA -- owning households indicated that their traditional IRAs contained rollovers from employer-sponsored retirement plans.... Recent years show a slight upward trend in contribution activity, although fewer than one in five US households make contributions to IRAs."  MORE >>

"[A recent Morningstar whitepaper] is undeniably positive in its assessment of the need for, and the opportunities with, [retirement income] solutions.... But ... much of the paper reads like a litany of unresolved complications: [1] Different annuity structures behave very differently. [2] Fees and guarantees can be difficult to evaluate. [3] Liquidity tradeoffs remain significant. [4] Portability remains a significant concern ... [5] Participant understanding is limited ... [m]uch less the understanding of the plan fiduciaries (and advisors) considering these options. Little wonder that current adoption remains fairly muted despite years of industry attention and encouragement."  MORE >>

"DOL's work here is important. They aren't changing the standard. The proposal doesn't raise or lower the bar for investment selection. It aims to add clarity. A clearer process-based rule can help fiduciaries evaluate investments carefully, document their decisions, and have more confidence that a prudent process will be respected.... [1] Asset neutrality must stay at the center. [2] The final rule should address the broader range of fiduciary investment decisions. [3] DOL should provide additional clarity on certain concepts while preserving maximum fiduciary discretion."  MORE >>

"In response to a request for input on what regulatory projects should be in the IRS's 2026-2027 Priority Guidance Plan, the American Retirement Association (ARA) has submitted a detailed list it believes will help reduce regulatory burdens and improve the retirement system overall.... Anti-cutback relief for elimination of new SECURE 2.0 distribution types.... Long-term, part-time revisions and relief.... Electronic disclosures.... Guidance on MEPs and PEPs.... Excise taxes owed on late contributions."  MORE >>