"his document provides a notice of public hearing on the ... proposed regulations [for] making an election to open a Trump account ... The hearing is scheduled to be held on July 16, 2026, at 10:00 a.m. Eastern Time (ET). The IRS must receive speakers' outlines of the topics to be discussed by [10 days after publication in the Federal Register, which is currently scheduled for June 5, 2026]."  MORE >>

"The DOL's proposed regulation on selecting investments, including alternative assets, identifies six factors that need to be considered in the process of selecting any investments for participant-directed plans ... Many of the examples in the proposal (including this one) include, as relevant considerations, the use of non-discretionary 3(21) advisors and/or discretionary 3(38) investment managers. In totality, that suggests that the DOL views the use of qualified advisors as indicative of a prudent process. That is consistent with the holdings of some courts."  MORE >>

"For asset and fund managers, the Proposed Rule lays out the framework under which such persons can create new, more diversified investment products with asset categories not traditionally found in participant-directed 401(k) plans and introduce these alternative investment products within a zone of safety from certain fiduciary challenges under ERISA section 404....For plan sponsors and fiduciaries [the] proposed safe harbor rewards documented process, not investment outcomes."  MORE >>

"While the proposal introduces a more defined framework for evaluating prudence, it does not lower the fiduciary standard. In several respects, it may raise expectations by making the elements of a prudent process more explicit.... [1] A higher bar for documented process ... [2] A false sense of security around the safe harbor ... [3] Increased complexity in investment decisions ... [4] Misalignment between selection and monitoring ... [5] Litigation will likely evolve, not disappear"  MORE >>

"Two critical deadlines are converging. Calendar year plans must adopt amendments reflecting the SECURE Act, CARES Act, and SECURE 2.0 by December 31, 2026... and must complete pre-approved plan restatements within the current IRS cycle (anticipated to be July 2026-2028). Missing either deadline can jeopardize the tax-qualified status of the plan -- triggering immediate taxation of all plan assets to participants."  MORE >>

"Future disputes will weigh the consistency of application of valuation metrics, justifications for changing discount rates, the facts and circumstances surrounding rate changes, and other factors.... Discount rate applications may dramatically affect withdrawal liability payments and may change after the effective date of withdrawal." [M&K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 23-1209 (S. Ct. May 21, 2026)]   MORE >>

"On its face, M & K is narrow in scope. It resolves a simple timing issue about when a rate may be changed. It does not directly answer the bigger question that is on every withdrawal liability practitioner's mind: To what extent may an actuary use a lower discount rate for withdrawal liability purposes (e.g., 6.5%) than for minimum funding purposes (e.g., 7.5%)? In practice, that bigger question about when actuaries may use different rates for different purposes arises far more frequently and will likely need to be resolved by the Supreme Court at some point soon." [M&K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 23-1209 (S. Ct. May 21, 2026)]  MORE >>

"The appellate court reasoned that the 'best estimate' standard permits the actuary to set assumptions after the valuation date as long as they are 'based on the body of knowledge available up to the valuation date.' The Supreme Court unanimously affirmed, holding that, in context, 'as of' is 'understood to 'assign an event to one time and the recognition of it to another.'' Thus, the facts must exist on the valuation date, but the valuation may be performed after that date. And an assumption is not a fact but a valuation tool, adopted when the need for a valuation arises." [M&K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 23-1209 (S. Ct. May 21, 2026)]  MORE >>

"[It] typically takes between 90 and 120 days from the minute a plan sponsor says, 'I'm ready to make a change' to when that sponsor's plan goes live with the new provider.... Having accurate data and payroll systems set up correctly are among the steps a sponsor can take to help minimize transition time"  MORE >>

"FACT actuaries were contacted by staff at PBGC and ... were told that we may proceed in completing applications on behalf of these terminated multiemployer plans to pursue SFA, and that PBGC would agree to pay expenses incurred by professionals on behalf of affected, insolvent funds applying for this SFA.... PBGC conceded ... that they will accept, into 2027, additional data that they may request to incorporate into a successful application.... The PBGC stated that they will not consider applications from outside the 2nd Circuit at this time."  MORE >>

"The aggregate funded ratio for U.S. corporate pension plans is estimated to have increased by 1.7% points in May, ending the month at 108.9% ... The aggregate funded ratio is estimated to have increased by 5.4% and 9.0% year-to-date and over the trailing twelve months, respectively."  MORE >>

"The PPFI funded ratio stood at 87.6% as of April 30, in stark contrast to the 83.7% observed as of March 31 and closer to the 87.0% mark seen as of February 28, illustrating recent market volatility."  MORE >>