"By providing the lifetime income disclosure using the DOL guidelines and model language, plan sponsors, plan fiduciaries, and third-party administrators (TPAs) can rely on this regulatory safe harbor in formal or informal disputes or challenges with the participants for the differences that will occur when benefits are certified."   MORE >>

"This column provides an overview of the plan correction process utilizing the Self-Correction Program (SCP) and Voluntary Correction Program (VCP) under the IRS's EPCRS. This column also describes certain best practices to help plan sponsors avoid making mistakes in the first place."   MORE >>

"[T]he failure to satisfy the requirements in the PTE will cause the compensation earned by the firm and the investment professional to be a prohibited transaction, resulting in loss of the compensation and penalties. But if [four] requirements are satisfied, the failure will not be treated as a prohibited transaction."   MORE >>

110 pages. "Saving and investing attention is shifting to how best to provide participants with a holistic financial wellness platform, via advice, which also helps meet another challenge -- offering guidance for the income needs of retirees who stay in their employers' plans. Meeting these needs, along with continually encouraging strong saving rates with appropriate investment diversification, are the primary drivers in creating successful retirement outcomes."   MORE >>

12 pages. "Broaden the scope of retirement plans to support participants' financial well-being with self-directed solutions and advice that focus on every step of their journey to and through retirement.... Combine automatic plan features with a higher default rate for a powerful savings boost.... Ensure plan portability, protecting employee retirement assets for the future and preserving the work you've put into the plan."   MORE >>

"[This article highlights] four proposals included in the RISE & SHINE Act ( S 4353 ): [1] a proposal to allow a DC plan sponsor to establish a separate 'emergency savings account;' [2] the imposition of new disclosure requirements on plans offering 'lump sum windows;' [3] a new 401(k) plan 'reenrollment' requirement; and [4] a clarification of the projected interest crediting rate rule for cash balance plans using a variable interest crediting rate."   MORE >>

"In [a recent survey ], 28% responded that oversight on investment management was a primary reason for offering a financial advisor to their 401(k) plan.... Sponsors also noted critical concerns related to compliance (75%) and fiduciary guidelines (67%) as areas where they welcomed oversight from a financial advisor. Sponsors also called out guidance on regulatory concerns (21%) and an ability to answer employee questions (17%) as key advantages."   MORE >>

"As interest in investing in cryptocurrencies grows, retirement plan fiduciaries need to understand the fiduciary duties owed to the plan's participants and beneficiaries. Investment of retirement plan assets in cryptocurrencies must be carefully evaluated by plan fiduciaries in light of the risks inherent in cryptocurrency investments in the current market. In addition, plan fiduciaries must be aware of any new tax developments."   MORE >>

"A subset of shareholders have recently increased pressure on large companies to align their retirement plan offerings with their climate agendas.... [S]ome stakeholders are pushing companies to allow shareholders to vote on whether a company should include in its annual proxy statement a report analyzing how its retirement plan options align with its stated climate action goals."   MORE >>

"Federal employees and retirees have reported problems with setting up new accounts for online access to the federal government's 401(k)-style retirement savings program, and the agency's call center has been deluged."   MORE >>

"Concentration risk applies to all stocks ... Core strategies: Selling, gifting, or donating ... Short-term strategies: Hedging ... Long-term strategies: Exchange funds and protection funds ... Incentive Stock Options (ISOs) and special tax issues."   MORE >>