68 pages. "What's New: The filing requirements for 2024 are almost identical to the filing requirements for 2023.... [K]ey changes to note for 2024 ... [1] Single-employer plans other than CSEC plans: The Flat-rate Premium is $101 per-participant, up from $96; The cap on the Variable-rate Premium is $686 per person, up from $652.... [2] Multiemployer Plans: The Flat-rate Premium is $37 per-participant, up from $35.... [3] The Premium Customer Service email address has changed from pbgc_premiums@custhelp.com to premiums@pbgc.gov. Emails sent to the old address will be forwarded to the new mailbox."   MORE >>

16 pages; Jan. 5, 2024. "What's New: [1] SEP IRAs and SIMPLE IRAs ... [2] References to 2023 Form 8915-F ... [3] Certain corrective distributions not subject to 10% early distribution tax.... [4] Coronavirus-related distributions ... [5] Modified AGI limit for Roth IRA contributions increased.... [6] Due date for contributions."   MORE >>

"The VT Saves plan will be phased in starting mid-year 2025. Covered employers must auto-enroll their employees into the program. The phase-in dates are as follows: ... 25 or more employees: July 1, 2025; 15 to 24 employees: January 1, 2026; 5 to 14 employees: July 1, 2026. The initial employee contribution rate is 5% of salary; it appears the program will also feature an automatic annual savings increase of 1% of salary up to a maximum of 8%."   MORE >>

" Notice 2024-02 doesn't purport to be comprehensive guidance, and existing regulations on auto-enrollment permit more flexibility than SECURE 2.0.... Additional guidance should come sooner rather than later ... Even though the SECURE 2.0 amendment deadlines have been extended by Notice 2024-02, the compliance deadline remains the same, and operational compliance and communications require planning."   MORE >>

"[Q]ualified retirement plans are not required to have cash-out provisions at all.... Each plan has the option to set its own cash-out threshold within the prescribed limit (anywhere from $0 to $7,000 for 2024 and later years). The threshold must be written into the plan document."   MORE >>

" EBSA's review found that 70 percent of the audits fully complied with professional auditing standards or had only minor deficiencies ... However, 30 percent of the audits (3 out of 10) contained major deficiencies with respect to one or more relevant generally accepted auditing standards requirements. This puts $927 billion and 11.7 million plan participants and beneficiaries at risk, an increase of $274 billion compared with prior EBSA studies."   MORE >>

"[P]lan sponsors have complained about longstanding issues such as: [1] case review delays; [2] the absence of oversight and management; [3] communication lapses; [4] departmental coordination issues; and [5] an overall lack of transparency about PBGC processes and procedures. The report notes that ... plan sponsors applying for a distress termination under the business continuation test encounter 'a lengthy and inefficient review process' that can take months or years."   MORE >>

"While the concept of socially responsible investing has been around for more than 70 years, the term has made its way to mainstream media over the past year as a political talking point -- and public pensions are increasingly being caught in the crossfire.... These pro- and anti-ESG policies have resulted in several key lawsuits -- the results of which will likely have last implications for public pensions across the country."   MORE >>

"The company said pension-eligible nonunion employees will accrue benefits until Dec. 31, 2028 ... 3M had closed its primary U.S. pension plan to new hires effective Jan. 1, 2009. The change will affect employees at both 3M and Solventum, the healthcare company that is expected to spin off from 3M in the first half of 2024."   MORE >>

"A household actuarial valuation involves calculating and comparing present values of household assets and household spending liabilities for the purpose of determining the household's Funded Status. To do this, [the authors] suggest you follow the easy 5-step valuation process outlined [in this post, using the] Actuarial Financial Planner (AFP) models."   MORE >>

"Due to IRS administrative issues involving the EFAST2 system, the IRS is postponing electronic filing of Form 5558 through EFAST2 until Jan. 1, 2025. Plan sponsors and administrators should continue to use a paper Form 5558 to request a one-time extension of time to file a Form 5500 series or Form 8955-SSA (up to 2½ months after the normal due date for Form 5500s or Form 8955-SSA)."   MORE >>