24 pages. "What's New: [1] Certain corrective distributions not subject to 10% early distribution tax.... [2] Disaster tax relief.... [3] E-filing returns.... [4] Increase in required minimum distribution (RMD) age.... [4] Information Reporting Intake System (IRIS). " [Also available: Draft 2024 Form 1099-R and Draft 2024 Form 5498 ]   MORE >>

12-page chart details provisions of the proposed regulations, along with plan document requirements and cautionary notes.   MORE >>

"[This article] provides you with a 'To Do' List of items on which you may want to take action before the end of 2023 or in early 2024."   MORE >>

"While the current version of PTE 2020-02 does not extend relief for prohibited transactions resulting from robo advice, the proposal would extend the PTE's protections to conflicts of interest so long as the conditions of the exemption are satisfied. Some commenters have suggested that the new definitions of fiduciary status and of covered transactions are so broad that investment education would be considered fiduciary advice.... [T]hat is an exaggeration."   MORE >>

"[The Voluntary Correction Program (VCP)] gives the plan sponsor the opportunity to strategize proposed corrections with some flexibility and creativity, negotiating for a golden IRS stamp of approval at the end.... VCP tips: [1] Be prepared for the worst case scenario ... [2] It's okay to make an aggressive first move ... [3] Have a Plan B (or C or D) ... [4] Ask for a conference with manager.... Anything other than a straightforward correction should be assessed for VCP advantages."   MORE >>

"[W]hile IBM may have been uniquely positioned to revert to its cash balance plan, as the company's [defined benefit] plan, frozen in 2006, is likely now overfunded, many more firms may also be in the position of having an overfunded plan as a result of discount rate changes and high interest rates."   MORE >>

"When crafting messages for up to five generations of workers, a more succinct, informal approach can help 'maximize the exposure.'.... Big, blocky chunks of text are out. Short videos and visuals that succinctly drive home a key point are in. Email may reach older generations, but Facebook, LinkedIn and TikTok or Instagram are how many younger plan participants get information."   MORE >>

45 pages. "This report focuses on five states that ... closed or significantly changed their public pension plans.... Costs have risen markedly for plan sponsors since closing these plans.... This report documents some ways in which these states have attempted to address growing negative cash flows, but those efforts have mostly proven to be temporary fixes rather than long-term solutions that address fundamental challenges."   MORE >>

"A Social Security Bridge option that is formalized, accessible, and easy to understand would allow beneficiaries to boost monthly benefits and help protect against downward mobility in retirement. This bridge, while important for many, is not as relevant for those with little to no retirement savings. Thus, [the authors] also advocate for increasing the Social Security minimum benefit to ensure adequate lifetime retirement income for the over 63 million Americans who will retire without any retirement savings."   MORE >>

"As of December 1, the public company you work at or with will have adopted a compliant Dodd-Frank clawback policy. Now the hard work begins to figure out exactly how the clawback process will work ... This article covers the essential steps required to complete the process of clawing back erroneously paid incentive compensation. They are process-intensive and scalable to meet each company's unique circumstances."   MORE >>