"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"   MORE >>

"The first quarter 2024 interest assumptions will be 5.45 percent for the first 20 years following the valuation date and 5.22 percent thereafter. In comparison with the interest assumptions in effect for the fourth quarter of 2023, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), an increase of 0.39 percent in the select rate, and an increase of 0.85 percent in the ultimate rate (the final rate)."   MORE >>

"Pursuant to section 320 of SECURE 2.0, after the initial year of eligibility, sponsors of defined contribution, 401(k) and 403(b) plans may choose to give an otherwise eligible employee that elects not to participate a single 'Unenrolled Participant Annual Reminder Notice' for a year in lieu of myriad other DOL and IRS notices typically required."   MORE >>

"The plaintiffs allege that the re-leveraging transaction diluted the value of the existing participants' accounts ... [B]oth the complaint and FAB 2002-01 serve as reminders that fiduciaries considering re-leveraging transactions must engage in due consideration of the transaction ... [T]he Fiduciaries [in this case] may have concluded that ... [w]ithout the additional purchased shares, future employees would not achieve meaningful ownership in the Company, which is necessary to drive motivation and commitment to increase the Company's value." [Shipp v. Central States Manufacturing, Inc., No. 23-05215 (W.D. Ark. complaint filed Nov. 28, 2023)]   MORE >>

"The [DOL's] advice to 401(k) fiduciaries about approaching crypto with 'extreme care' is something that plan administrators should take to heart. Fortunately, there are a few things that administrators can do to limit risk and ensure that their plan remains compliant with all relevant rules and regulations."   MORE >>

"[S]tarting in 2024, [IBM's] captive excess pension assets can be deployed to free up an estimated half-billion dollars of cash expense annually.... Greatly oversimplifying, this is creating a retirement benefit funding holiday for IBM which should last about ten years ... A well-designed, well-managed cash balance plan may hold minimal risk to sponsors while diversifying risk and delivering lifetime benefits to employees."   MORE >>

191 pages. "Two thirds (66 percent) of people are confident they will be able to have or maintain a comfortable retirement lifestyle ... About three in 10 people fear not being able to meet the basic financial needs of their family ... Seven in 10 people (71 percent) are concerned that Social Security will not be there for them when they are ready to retire.... Among those who are not yet retired, more than four in 10 people (42 percent) expect to retire at age 70 or older or do not plan to retire[.]"   MORE >>

"The rise in popularity of these arrangements may show the challenges participants face in achieving retirement readiness in traditional defined contribution plans. They are tasked with determining how much they need to save, making investment decisions, and how to structure distributions during retirement. Compared to a pension with a stated benefit payment at retirement, it’s easy to understand an employee’s preference. "   MORE >>

"If the Department moves forward with changes to the advice definition, the proposal must be narrowed and provide clearer guidelines. It must ensure that typical marketing and financial education related communications are not subject to fiduciary standards. Some of the areas that must be addressed include [1] Platform providers assisting plan sponsors with platform selection; [2] RFP responses and other 'hire me' situations; [3] Call center representatives responding to questions from a plan participant; and [4] Communications between asset managers and financial institution intermediaries."   MORE >>

"A recent report found that health savings accounts (HSAs) can have a substantial impact on retirement income adequacy. The report found that the cumulative baseline deficit decreases by 6.2 percent to $3.44 trillion when status quo HSA utilization is considered."   MORE >>

"Section 6039 ... requires businesses to report to the IRS when employees have exercised Incentive Stock Options (ISOs) or have purchased company stock under an Employee Stock Purchase Plan (ESPP).... Deadlines for filing these forms with the IRS for transactions that occurred in 2023 are February 28, 2024 for paper filers and April 1, 2024 for electronic filers."   MORE >>