"[T]he proposed amendment significantly bolsters the ineligibility provisions of PTE 84-14 due to criminal convictions or other acts of prohibited misconduct. But in seeking to accomplish these objectives, the DOL has proposed various additional conditions that could make the QPAM Exemption ... potentially less appealing or even unavailable in some situations."   MORE >>

"This article discusses both the consequences of a recommendation to transfer an IRA from another firm and the consequences of investment advice to an IRA that involves a conflict of interest."   MORE >>

30 pages. "The central question here is whether the delegation of those investment responsibilities protects the company and company insiders from liability for the plan's continued offering of Boeing stock as an investment option for employees before and during a time when the value of Boeing stock dropped significantly.... We agree with the district court that the delegation ... means that neither Boeing nor the other defendants acted in an ERISA fiduciary capacity in connection with the continued investments in Boeing stock." [Burke v. The Boeing Company, No. 19-2203 (7th Cir. Aug. 1, 2022)]   MORE >>

"The [DOL] recently published its Spring 2022 Regulatory Agenda , and here is a summary of several big ticket items: [1] ESG & ERISA ... [2] Fiduciary rule ... [3] Form 5500."   MORE >>

" Risk comes in many forms that sponsors have to take into consideration for participants in plan oversight—market volatility, downside risk, shortfall risk in retirement, inflation risk, interest rate risk, and participant behavioral risk, to name the primary risk factors.... Plan sponsors who take the time to understand each risk and the impact on the choices they make on behalf of participants will be in a position to establish a hierarchy of risk prioritization to guide their work, leading to more informed decision-making.... [The authors] have provided a list of considerations [for plan committees]."   MORE >>

"No. Even in multiple recordkeeper plans, there is one document per plan. If you have multiple plan documents, you have multiple plans. Though this sort of thing (each vendor using their own document) was common years ago before the most recent 403(b) regulations were finalized, it is much less common now."   MORE >>

"[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Pension Plan of the Printers League -- Graphic Communications International Union Local 119B (GCIU Local 119B Plan). The plan, based in East Farmingdale, New York, covers 1,213 participants ... [and] became insolvent in August 2021.... The plan will receive $85.2 million in SFA, including interest to the expected date of payment to the plan."   MORE >>

12 pages. "Congress structured the Trust in an effort to ensure investment independence and limit political interference.... The Trust's assets are invested in a diversified portfolio ... The Trust is a tax-exempt entity independent of the federal government, and it is not subject to the same oversight as federal agencies." [RS22782 Aug. 1, 2022]   MORE >>

"In both lawsuits, Miller Shaw flips the script of the typical excessive fee lawsuit by alleging that the respective plan fiduciaries 'chased the low fees' charged by the BlackRock index target-date funds and saddled the plans with purportedly inferior returns compared to other target-date funds. The complaints are filled with charts ... implying that Morningstar validates their fiduciary malpractice claims. But they leave out the most important chart in the entire Morningstar survey -- the one that identifies the very same BlackRock target-date funds as the number one rated target-date funds in the 2022 Morningstar survey."   MORE >>

"Victims of severe storms, flooding, landslides and mudslides beginning July 26, 2022, now have until November 15, 2022, to file various individual and business tax returns ... Individuals and households ... that reside or have a business in Breathitt, Clay, Floyd, Johnson, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike, and Wolfe counties qualify for tax relief."   MORE >>

"[H]uman resources executives must look for ways to engage more deeply with their technology peers and embrace that overlooked resource. Doing so will help enlighten EBP plan managers about the difference between a cybersecurity risk management process and the technology that protects internet-connected systems such as hardware, software, and data from cyber threats."   MORE >>

"Even with Medicare coverage and ignoring long term care, retirees face sizable out-of-pocket costs for premiums, copays, and uncovered services.... After subtracting these costs, the typical retiree has only 75 percent of Social Security and 88 percent of total income left."   MORE >>