"This notice ... provides initial guidance regarding anti-abuse rules under section 402A(e)(12) of the Internal Revenue Code to assist in the implementation of SECURE 2.0 Act section 127 provisions.... This [Notice] provides examples of anti-abuse procedures that are not reasonable and thus may not be used to limit the frequency or amount of matching contributions made to the account ... [and] highlights several statutory provisions within section 402A(e) to which a plan might look to limit the ability of participants to manipulate the rules of the plan to cause matching contributions to exceed the intended amounts or frequency."   MORE >>

"The increases in the civil monetary penalties under sections 4071 and 4302 of [ERISA] provided for in this rule apply to such penalties assessed after January 12, 2024."   MORE >>

"Are plans required to allow employees to elect to make Roth employer contributions? ... Does a separate five-year period apply to Roth employer contributions? ... What does it mean to be 100% vested when received? ... What about nondiscrimination testing? ... When are designated Roth employer contributions included in a participant's gross income? ... How are designated Roth employer contributions reported if they aren't included in wages?"   MORE >>

"The [SEC] on [January 10] approved applications for a 'number of spot bitcoin exchange-traded product (ETP) shares.' An SEC order confirmed that a total of eleven ETFs were approved.... [DOL guidance issued] in March 2022 cautioning sponsors against using cryptocurrency in plans governed by [ERISA] is 'still good agency guidance.' "   MORE >>

"[As] a fiduciary, you should consistently review what your plan needs are, what you currently receive in terms of services, the amount you pay for those services, and what else is out there on the market. Before you do any legwork, and certainly before you make any decisions, it's important to formulate a game plan because no two plan providers are exactly alike, and there are no 'cookie cutter' solutions."   MORE >>

"Congress continues to pass laws that move 403(b) plans ever closer to 401(k) plans, but 403(b) plans remain distinct.... Special aspects of 403(b) plans include ... [1] Types of plan sponsors ... [2] ERISA coverage ... [3] Universal availability ... [4] Special 15-year catch-up contributions ... [5] Contributions on behalf of former employees ... [6] Investment choices."   MORE >>

"There is a range of different strategies to mitigate and/or transfer pension risk.... A plan typically has three cohorts of participants: actives, terminated vested, and retirees. Terminated vested and retiree participants are generally targeted in pension risk transfers. [This article highlights] current options to transfer pension risk and the suitable cohort for each."   MORE >>

"These penalties cover a wide range of benefit plan compliance failures. The DOL has discretion to impose lower penalties in some instances -- such as under programs designed to encourage Form 5500 filing -- so not all violations will result in the maximum permitted penalty."   MORE >>

"While changes to the FLSA's independent contractor analysis may significantly impact many businesses and workers, most employee benefit plan rules determine employee status under ERISA or the Code (not the FLSA), often in conjunction with the common-law standard. It is important to properly classify workers under the appropriate set of rules -- particularly for purposes of the Code's rules regarding retirement plans, cafeteria plans, and employer shared responsibility penalties."   MORE >>

"[B]usiness groups have argued the new rule only adds confusion and will result in workers improperly designated as employees when they instead are operating as independent contractors. The DOL's change of course concerning the proper standard so quickly after a different standard was announced a few years ago ... might reduce any deference courts will give to the new rule if it becomes effective."   MORE >>

17 pages. "ERIC's policy agenda is focused on improving employee wellbeing and financial security; increasing flexibility and opportunity; reducing costs and administrative burdens; and helping large employers continue to deliver uniform benefits. ERIC advocates for measures that ensure continued tax preferences for employer- sponsored benefits and exclusive federal regulation of nationwide benefits plans through ERISA preemption."   MORE >>