Rev. Jun. 8, 2026. "The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account."  MORE >>

"[W]hile the consideration of three or more competing target date suites may be different than the common practice (particularly for small and mid-sized employers), there is something to be said for it. For example, plan fiduciaries should consider the participants in making decisions about the asset allocation and glide path of the various target date managers -- and then compare that to the needs and circumstances of the covered workforce."  MORE >>

"The proposed ERISA prudence safe harbor applies only to the selection of DIAs, not to brokerage windows, settlor plan design features, or ongoing monitoring obligations.... The proposal states that it is intended to be asset-neutral but is expressly aimed at 'democratizing access to alternative assets' in 401(k) and similar defined contribution plans ... Even if finalized, the DOL's proposed prudence safe harbor is expected to face litigation risk, including potential challenges to the rule itself and to fiduciaries' application of the six-factor framework, as well as separate claims alleging breaches of the duty of loyalty or prohibited transactions."  MORE >>

"The comment period for the Investment Selection Proposal closed last week.... Letters suggesting more significant changes to the proposal were submitted by the CFP Board, AARP, the AFL-CIO, and Morningstar. However, none explicitly recommended that the [DOL] fully rescind the proposal. Some agreed in principle that alternative assets could benefit savers in certain contexts and welcomed additional clarity for fiduciaries."  MORE >>

273 pages. "Since last year's report, the Trustees ... have made changes to the intermediate assumptions in three primary areas. [1] Fertility ... [2] Immigration ... [3] Near-term economics ... In addition, [OBBBA] ... is projected to have a substantial effect on Social Security's financial status.... The OASI Trust Fund is projected to become depleted in the fourth quarter of 2032, one quarter earlier than projected in last year's report. Upon reserve depletion in 2032, projected income is sufficient to pay 78 percent of scheduled benefits. This percentage declines gradually to 62 percent by 2100." [Also available: [1] Tables Included in the Report; [2] Figures Included in the Report; [3] Supplemental Single-Year Tables]  MORE >>

"66% of sponsors completed fiduciary training for committee members. 70% of sponsors reviewed recordkeeping fees within the past year. 96% of those sponsors benchmarked fees against peers. 65% evaluated forfeiture account usage.... 14% of sponsors evaluated private markets in target date/target risk option.... Only 2% of sponsors added lifetime income features inside of target date funds."  MORE >>

"Gone are the days of a board of directors taking on sole fiduciary responsibility for a plan. Here is the era of delegating duties to a committee.... [A]mong the ingredients to crafting an excellent committee are: outsourcing fiduciary responsibilities as necessary; knowing and following plan documents; and making sure the committee structures align with plan demographics and committee member strengths."  MORE >>

"In the fiscal year ended Dec. 31, 2025, the median public DB plan gained 13.8%, nearly double the median assumed rate of return of 7.0%.... This bodes well for an improvement in funded status across public pension plans. Many use an actuarial smoothing period of five years. Over the last five years, the median public DB plan has an annualized gain of 7.2%."  MORE >>

"For years, the retirement industry struggled to push annuities into 401(k) plans. Participants distrusted them. Fiduciaries worried about liability. Regulators remained cautious.... So the industry changed the marketing. Instead of selling 'fixed annuities' or 'index annuities,' it began selling 'lifetime income.' ... But behind the softer language sits the same insurance-driven business model that has long dominated retail annuity sales: opaque pricing, embedded spreads, insurer credit risk, weak benchmarking, and conflicts of interest between insurers, consultants, recordkeepers, and product manufacturers."  MORE >>

"The SEC Form S-1 filing for the SpaceX IPO provides some insights into the company's stock options, restricted stock units (RSUs), and other forms of employee equity compensation beyond the more extensive details it had to disclose about grants for its executive officers.... This includes the unexpected revelation that for some years the company has had an employee stock purchase plan (ESPP), a rarity among private companies."  MORE >>

"Executives holding dual clinical and administrative roles, or receiving incentives tied to service line growth, may need fair market value support, commercial reasonableness analysis, and assurance that pay is not tied to referral volume or value. Performance bonuses linked to profitability or revenue growth should be analyzed closely; tying incentives to quality and compliance metrics can mitigate risk but must be carefully structured."  MORE >>