"The most helpful delay applies to a CARES Act provision that requires changes to defined contribution plan language governing required minimum distributions.... [T]he December 31, 2025, amendment deadline applies to non-governmental qualified plans, 403(b) plans not maintained by a public school, and IRAs."   MORE >>

"On August 26, 2022, Governor Newsom signed Senate Bill 1126, which expands the definition of eligible employer to include a person or entity ... that has at least one eligible employee and that satisfies the requirements to establish or participate in a payroll deposit retirement savings arrangement, and would additionally exclude from the definition of 'eligible employer' sole proprietorships, self-employed individuals, or other business entities that do not employ any individuals other than the owners of the business."   MORE >>

"The Seventh Circuit is the first court ... to hold that non-fiduciaries fall within the scope of the DOL's investigatory authority under section 504(a).... The Seventh Circuit ... has provided targets of administrative subpoenas with a clear blueprint for demonstrating that the DOL's requests are unduly burdensome: they must articulate via affidavit or witness testimony precisely how responding will disrupt their normal business operations." [ Walsh v. Alight Solutions LLC , No. 21-3290 (7th Cir. Aug. 12, 2022)]   MORE >>

"Although conventional wisdom suggests having a retirement nest egg of at least $1 million, that's a difficult number to achieve for many Americans. To paint a more realistic picture of retirement finances ... the study analyzed average spending data -- including groceries, housing, utilities, transportation and health care -- for people ages 65 and older."   MORE >>

"Here are just a few reasons why you may want to pull the plug on 401(k) contributions -- and save your money elsewhere. [1] You don't get an employer match ... [2] You don't like your investment choices ... [3] You're tired of paying hefty administrative fees."   MORE >>

"Buffett is a practitioner of buy-and-hold investing.... Two characteristics of your 401(k) encourage you to practice the buy-and-hold approach: withdrawal restrictions and access to quality, large-cap funds."   MORE >>

"[The authors] spoke in depth with four retirees who saved enough to build comfortable retirements, with net worths ranging from roughly $2 million to $4 million.... The four live in different parts of the country and are at different phases of life -- with one just entering retirement at 61, while another is in his 80s. Among other things, they offer insight into some of the challenges that retirees -- even those with substantial savings -- face today."   MORE >>

"If the 401(k)-to-IRA rollover takes place before the RBD, it would make sense that no RMD should be required before the rollover occurs. But, as is the case with many IRA and workplace plan rules, what makes sense isn't always the correct answer. The correct answer is that a RMD from the 401(k) must be taken first, and only what's left can be rolled over."   MORE >>

"[T]he CommonSpirit decision may have done plan participants and ERISA plaintiff’s attorney a favor by opening “Pandora’s Box” as to a common issue with some 401(k)/403(b) plans and plan advisers/providers, that question being Are plan sponsors and ERISA plaintiff’s attorneys overlooking a potentially significant breach of a plan sponsor’s fiduciary duties of loyalty and prudence?"   MORE >>

"[1] Assuming that the worst-case deadline for depositing participant contributions IS the deadline for depositing participant contributions.... [2] Assuming that not being required to have an investment policy statement means you don't need to have an investment policy.... [3] Assuming that ERISA's required fiduciary bond covers your liability as an ERISA plan fiduciary.... [4] Assuming that hiring a fiduciary keeps you from being a fiduciary.... [5] Assuming you have to figure it all out on your own."   MORE >>

"The adopted rules add a new tabular disclosure requirement to S-K Item 402(v) ... The method of calculating the amount of compensation 'actually paid' has been significantly changed from the original rule proposal, with several new and technical provisions ... [C]ompanies must also provide a 'clear description,' which may be presented graphically, narratively, or through a combination of both, that compares pay versus performance."   MORE >>

"These new pay-for-performance rules will require reporting companies to disclose in their proxy and information statements a new standardized figure for compensation 'actually paid' (that is, total compensation otherwise reported in the proxy with the adjustments to pension and equity award methodologies) to the principal executive officer and to the remaining named executive officers; tabular disclosure of certain performance measures, including absolute and relative total shareholder return and net income; and a description of the relationship between the performance measures and compensation. Disclosure will be required for the last five fiscal years, subject to a transition period."   MORE >>