"[T]he New York Secure Choice Savings Program requires certain employers to enroll employees in the State-sponsored retirement savings program. Importantly, employers that already sponsor or participate in a tax-qualified retirement plan, such as a 401(k) plan, are exempt from participation in the Program but must certify their exemption through the State's online portal."  MORE >>

"Nearly 45,000 comments poured into the [DOL] in response to its proposed rule on fiduciary duties in selecting qualified designated investment alternatives for 401(k) and other defined contribution retirement plans. They revealed a sharp divide about how far plan fiduciaries should be allowed to go when considering alternative investments ranging from private equity and private credit to digital assets."  MORE >>

"This article explains how pension funds can access best-in-class, high-growth, late-stage private technology companies at significant discounts to public market valuations through a small-ticket secondaries manager -- and why a disciplined underwriting framework makes this strategy particularly well-suited to pension funds' long-term, capital-preservation mandates."  MORE >>

"Only 45% of retirees say a workplace retirement plan is an income source, compared with 83% of workers who expect one to be. The median Vanguard 401(k)-style balance for Americans 65 and older is about $95,000, or roughly $3,800 a year using the 4% rule. Many 401(k)s get rolled into IRAs by retirement, so retirees may still be using old workplace savings but under a different label."  MORE >>

"[A] report from Cerulli Associates expects the merger and acquisition (M&A) market to move $4 trillion over the next decade. The number of advisors retiring is increasing daily, with over 26,000 expected to exit the workforce over the next decade ... Over half (54%) of RIAs in Cerulli's data are pursuing an acquisition, with hybrid RIAs being the most acquisitive independent channel."  MORE >>

"PwC openly admits that global implementation remains 'incomplete and inconsistent' and warns about weak oversight and fragmented supervision. That is not a retirement plan investment thesis. That is a warning label. ERISA fiduciaries are supposed to minimize conflicts, opacity, instability, and uncompensated risks. [Digital assets multiply] all four."  MORE >>

"Most large public pensions now claim to be 'among the most transparent in the world.' At the same time, they resist full disclosure of limited partnership agreements, side letters and fee breakdowns; aggregate or net away critical cost components and frame investment performance using metrics that flatter outcomes. This creates a form of performative transparency -- a system that appears open, but in practice controls what can be meaningfully understood."  MORE >>