The DOL has announced inflation-adjusted increases to civil penalties for retirement plan compliance failures, effective for penalties assessed after January 15, 2025. These updated penalties impact late filings, failure to provide required documents, and other key plan obligations. Our latest blog outlines the new penalty amounts and what plan sponsors need to know to stay compliant and avoid costly fines in the year ahead.

Our latest blog examines the DOL's new "non-enforcement policy" allowing transfers of accounts under $1,000 to state unclaimed property funds without penalties. Learn the specific requirements your plan must meet, what makes a state fund eligible, and how to implement a compliant missing participant program aligned with DOL best practices. 

The IRS has released proposed regulations that update the SECURE Act 2.0 catch-up contribution rules for 401(k) plans. These changes include higher contribution limits for participants aged 60 to 63 and new Roth contribution requirements for higher earners. Read the blog for key provisions, compliance considerations, and what plan sponsors need to know to prepare for these important updates.

The Trump administration has launched a sweeping effort to review and scale back federal regulations, including those impacting retirement plans. Through a series of recent executive actions, the administration has frozen new regulations, introduced an ambitious “10-to-1 Deregulation Initiative,” and directed federal agencies to reassess existing rules for necessity, statutory authority, and constitutional alignment. Read the blog to learn what these changes could mean for the regulatory landscape and how they may affect plan sponsors and fiduciaries going forward.

A bipartisan bill has been introduced that could modernize 403(b) plans by allowing the use of Collective Investment Trusts (CITs). Our latest blog explains how this legislation aims to expand investment choices, clarify fiduciary duties, and simplify administration while enhancing protections for plan participants. Learn what these proposed changes could mean for your retirement plan strategy.

The advantages of financial wellness programming for employers are well-documented and may include lower healthcare costs, higher worker retention, reduced absenteeism, and increased productivity. Although, not all financial wellness plans are created equal and boosting utilization rates can be an ongoing challenge. An effective omnichannel strategy can help plan sponsors engage more employees, regardless of their level of investing experience or financial literacy. 

Your Plan Fiduciary Must-Do and Should-Do Lists: When you’re a plan fiduciary, you are prioritizing what ERISA law requires of you. You have a checklist of must dos, and also a list of things you should do proactively, which will keep the plan—and plan fiduciaries—out of trouble. Find out what items you should be doing, versus items you could be doing in our latest blog. 

The plaintiffs in this case have asserted claims for breach of the fiduciary duties of prudence and failure to monitor fiduciaries. Nothing new so far; however, in addition to naming the typical plan fiduciaries as defendants, the lawsuit also targets members of the board of directors, as well as other officers of the firm who serve on the retirement plan’s fiduciary investment committee.