"Recoupment of inadvertent overpayments to participants and beneficiaries is generally no longer required ... [If] plan fiduciaries do decide to recoup, they must heed new limitations designed to protect participants/ beneficiaries. These new rules became effective immediately upon SECURE 2.0's enactment in December 2022[.]"   MORE >>

"It is highly unlikely that a public pension plan would adopt an all-bond investment strategy, and there is no indication that any plans intend to do so. For that reason, the new disclosure has limited practical application for public sector plans. However, understanding this new measure is critically important to ensure the new disclosure is not used to mischaracterize the financial health of a pension plan."   MORE >>

"The Proposed Rule would apply to forfeitures incurred in plan years beginning on or after January 1, 2024. Any forfeitures incurred before then would be treated as arising in the first plan year beginning on or after January 1, 2024."   MORE >>

"The D.C. Circuit held that the district court abused its discretion by denying the amended class certification motion based on a stand-alone rule against 'fail-safe' classes, rather than applying the factors set forth in FRCP 23(a), including numerosity, commonality, typicality, and adequacy of representation." [ In re White , No. 22-8001 (D.C. Cir. Apr. 4, 2023)]   MORE >>

24 pages. "[This article] discusses the cybersecurity risk to retirement plans, examines the challenges participants face in recovering stolen funds, and explores the enhanced cybersecurity risk associated with plan investments in cryptocurrency and other crypto assets."   MORE >>

"In the event of missed or delayed payrolls, no issues arise with employee deferral contributions (since no payroll means no deferrals are taken). However, when payrolls resume, an evaluation of the impact of missed payrolls on participant loan repayments is necessary to account for any catch-up payments or re-amortization of future payments that may be required. Furthermore, any employee deferral or loan payment remittances from prior payrolls that may not have yet been contributed to the plan trust should be deposited in the plan trust as soon as possible."   MORE >>

"Recent appellate decisions favor employers, but a [PBGC] proposed rule would restore plan actuaries' prerogatives. The question is what balance to strike between protecting plans from opportunistic withdrawals and protecting employers from unfair withdrawal liability assessments. Litigation over that issue may continue even after the regulation is finalized."   MORE >>

"[A] Roth IRA is considered a better choice than a traditional IRA if the objective is a lower income tax bracket. But what if an individual is not eligible to make a regular contribution to a Roth IRA because their income is too high? They can get around this limitation using the backdoor Roth IRA contribution strategy."   MORE >>

"[1] Permit deferral of Social Security benefits beyond age 70.... [2] Permit a gradual move into Social Security benefits.... [3] Allow buy-in to the Social Security system from 401(k) or rollover individual retirement account (IRA) savings.... [4] [G]radually increase normal retirement age to reflect Americans' increased longevity and slowly push back the date of retirement for full benefits."   MORE >>