"If a business wants to comply with CalSavers, what does it need to do? ... How does a business prove it is exempt from CalSavers? ... How does a business count employees, for the 5 or more threshold? ... What are the consequences of noncompliance with CalSavers requirements? ... Does CalSavers apply to out-of-state employers? ... Does CalSavers apply to businesses located in California, with workers who perform services out of state? ... Can an employer be held liable over the costs, or outcome of CalSavers investments?"   MORE >>

"Though the council considered several topics, its sole recommendation is for DOL to conduct additional fact-finding on 'brokerage window only' plans -- DC plans that offer one or more brokerage windows but no designated investment alternatives.... [T]hese findings may help alleviate concerns for plan fiduciaries currently offering -- or looking to offer -- a brokerage window by making the case for DOL to preserve the status quo."   MORE >>

28 pages. "While there were some common themes, revealing a growing trend towards recognition of ESG factors in pensions generally, these international 'snapshots' also reveal that different countries are in very different places on their ESG and pensions journey."   MORE >>

32 pages. "This paper describes a method for estimating current workplace retirement plan coverage rates by age, race and ethnicity, education, gender, employer size, and earnings levels across U.S. states using data from the Current Population Survey, IRS Statistics of Income, and Survey of Consumer Finances."   MORE >>

"Pensions saw mixed experience again in February, as higher interest rates and lower stock markets pushed pension assets and liabilities down last month. Both model plans ... were close to even on the month, with Plan A improving less than 1% while the more conservative Plan B held steady."   MORE >>

"To help their heirs dodge a big tax bill, many people are converting traditional IRAs to Roths.... The strategy isn't just generous; it may also be more tax efficient, especially if the conversions occur early in retirement.... Along with tax-free withdrawals, a Roth IRA has an added bonus for heirs: They can leave the funds in the account to grow tax-free for 10 years. Because of that, their inheritance could be even more substantial."   MORE >>

"Those living in rural areas were more likely to have their assets from businesses ... In contrast, urban individuals held more of their assets in their homes and retirement accounts as well as stocks and mutual funds. Rural Americans were more likely to own their home and a vehicle, while they were less likely to own a retirement account or stocks and mutual funds than were urban Americans."   MORE >>

"No matter what type of plan you have, or whether it's administered in-house or outsourced to a professional recordkeeper, consider conducting a proactive operational compliance review, or self-audit, to help your organization avoid added costs and liabilities in the future.... [C]reate a retirement plan compliance checklist. Include everything from documentation and benefit calculations to day-to-day administrative processes."   MORE >>

"On average, small-plan participants pay slightly more than double the fees of those who invest through the largest companies. The main issue is not fund expenses. Gone are the days when most small 401(k) plans held costly investments. Their current problems come instead from their administrative fees, which are 6 times higher than those paid by the largest plans."   MORE >>

"One-third of employees overpay for health insurance each year by $1,700 and simultaneously make no voluntary retirement contributions. Over just a few years, these choices result in lost savings equal to 4% of the median net worth of families at retirement.... This finding suggests consumers could reallocate funds from health insurance to retirement saving without sacrificing consumption."   MORE >>

"[T]here is a presumption under the Section 280G rules that certain payments (including equity grants) made in the 12-month period prior to a change in control are considered parachute payments under Section 280G. If a future transaction seems to be in the cards, companies may want to consider planning around the 12-month rule and taking other measures to reduce potential parachute payments in the hopes of avoiding a cleansing vote."   MORE >>

"The Second Circuit's decision ultimately turned on a Plan term instructing the administrator to interpret the Plan in conformance with Internal Revenue Code Section 409A. Citing a regulation under 409A requiring that an employee be 'willing and able to continue performing services' in order to be involuntarily terminated, the Second Circuit concluded that the Plan administrator reasonably interpreted 'Layoff' to exclude a termination based on disability and affirmed the dismissal below." [ Soto v. Disney Severance Pay Plan , No. 20-4081 (2d Cir. Feb. 16, 2022)]   MORE >>