"The SECURE 2.0 changes affect the coverage and top heavy tests. They can help small businesses increase employee savings and reduce plan expenses by: [1] Simplifying the 'family attribution' rules when coverage testing, making it easier for spouses with separate businesses to maintain standalone plans. [2] Reducing the contribution obligation for 'top heavy' plans, making a short service requirement for plan eligibility more attractive."   MORE >>

"[1] Digital, self-serve retirement plans are as simple as it gets.... [2] Pooled employer plans offer additional support.... [3] Financial professionals, third-party administrators, and plan service providers open doors to customization."   MORE >>

"A shift in precedent has lowered the bar to establish a plausible argument sufficient to overcome a motion to dismiss -- and plaintiffs in yet another case are getting another shot at proceeding to trial." [Glick v. ThedaCare, Inc., No. 20-1236 (E.D. Wis. magistrate report Jul. 20, 2023)]   MORE >>

"The Pennsylvania Public School Employees' Retirement System [PSERS] filed a civil complaint ... against Aon Investments USA, saying the investment company cost it millions of dollars in damages.... PSERS said in the complaint that Aon's mistakes caused it to approve incorrect member contribution rates from 2021 through 2023." [Commonwealth of Pennsylvania, Public School Employees' Retirement Board v. Aon Investments USA, Inc., No. 221102792 (Com. Pleas Phila. complaint filed Jul. 31, 2023)]   MORE >>

"[P]lan sponsors are only winning approximately 30% of dismissal motions -- even less than the 35% success rate from the prior year.... [O]nly 17% of cases in 2023 have been dismissed with prejudice [8 out of 46], and half of those dismissals with prejudice involve anemic challenges to BlackRock LifePath index funds, cases that never had any merit.... [T]he dismissal percentage following the March 2023 Hughes II decision continues to decline as plan sponsors lose traction in the Sixth and Seventh Circuits."   MORE >>

"Rather than reducing their 401(k) contributions, Americans say they're cutting spending overall and saving less in other areas to respond to inflation and market volatility. Sixty percent of 401(k) savers would be willing to give up a portion of their next raise in exchange for better benefits. 401(k)s have become a non-negotiable benefit for workers, with nearly nine in ten saying it is a 'must have' when looking for a new job."   MORE >>

"When the first target-date funds emerged in the 1990s, they were primarily built using actively managed mutual funds.... But the pendulum has now begun to drift back in the other direction. More volatile markets, inflation, and the prospect of better investment performance have prompted managers to diversify the components of their target-date funds."   MORE >>

"The frequency of student loan debt means [repayment assistance programs] are a valuable lever for employers, too. While improving overall financial well-being and employee satisfaction, the programs may also increase awareness of and participation in retirement contribution programs like 401(k) plans."   MORE >>

"Since the start of 2022, Vestwell has won every contract awarded to a recordkeeper by state savings plans, including the CalABLE Colorado Secure Savings Program, the RetirePath Virginia, and the Colorado Secure Savings Program. It is now the administrator to more than 30 state savings programs, including education savings accounts, ABLE programs, and 75 percent of state auto IRA plans."   MORE >>

"More than half (53%) of women between ages 61 and 65 do not expect that their retirement savings and income sources will last throughout their lifetime compared to 36% of men in that age group; and 61% of women in the age 61 to 65 cohort reported they are extremely interested in a financial product that guarantees lifetime income compared to 53% of men, the research shows."   MORE >>

An unofficial monthly report of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).   MORE >>

"By reviewing demographic data, conducting employee surveys and performing benchmarking analysis, you can gain valuable insights into your employees' priorities. With the help of an expert, you can look into benefits solutions that address employee needs while remaining cost-effective."   MORE >>

"[T]wo in three employers [offer] tuition assistance to employees. However, adoption rates below 5% signal this isn't the benefit employees really want.... The vast majority of employees -- 86% -- say they'd commit to a job for five or more years if they received student loan repayment benefits. Yet only 8% of employers offer such a benefit. These statistics suggest there is a market gap, which gives companies offering these solutions a recruiting and retention advantage."   MORE >>

"83% of panelists agreed or strongly agreed that at least 10% of gig economy employers will offer contract workers voluntary payroll-deduction retirement savings mechanisms, such as IRAs, solo 401(k)s, and HSAs, by the end of 2026....  [E]mployers unable to provide work-from-home opportunities will need to enhance benefits packages and adopt flexible total rewards programs to attract and retain talent."   MORE >>