"First, the 2019 SECURE Act increased it to age 72 starting in 2020 (for those turning 70½ or older in 2020 or later).... SECURE Act 2.0 of 2022 came along and raised the mandatory age at which RMDs must begin, once again. Now any individual who turns age 72 after December 31, 2022, and reaches age 73 before January 1, 2033, will have a compulsory RMD age of 73.... [T]he law ups the RMD age to 75 for an individual who turns age 74 after December 31, 2032."   MORE >>

"[T]he 7th Circuit stated in its most recent ruling that the real emphasis should be on the 'difficult tradeoffs' that fiduciaries face, as well as the 'reasonable range of judgments.' When viewed through that lens, the 7th Circuit considered whether there was an 'obvious alternative explanation' that the fiduciary should have assessed for the plan." [ Hughes v. Northwestern Univ. , No. 18-2569 (7th Cir. Mar. 23, 2023)]   MORE >>

"According to the 2023 report ... the program's finances are in a similar, albeit marginally worse, position in 2023 relative to what they were in 2022.... In the 2023 report, the size of the payroll tax increase and benefit reduction needed to maintain solvency are larger than estimated in 2022.... [As] time elapses, the magnitude of the changes needed to maintain Social Security solvency increases." [IF12375 Apr. 5, 2023]   MORE >>

"[PBGC] has approved the supplemented application submitted ... by the Cement Masons Local 783 Pension Plan (Local 783 Plan). The plan, based in Houston, Texas, covers 51 participants in the construction industry.... The Local 783 Plan will receive approximately $16,800 in supplemented SFA, which is in addition to $4.5 million in SFA approved for the plan in April 2022[.]"   MORE >>

"[PBGC] has approved the supplemented application submitted ... by the New York State Teamsters Conference Pension and Retirement Plan. The plan, based in Syracuse, New York, covers 33,643 participants in the transportation industry.... The NYS Teamsters Conference Plan will receive approximately $438 million in supplemented SFA, which is in addition to $963.4 million in SFA approved for the plan in November 2022"   MORE >>