To the disappointment of many in the ERISA community, the Supreme Court issued a six-page opinion on January 24 that declined to rule on most of the issues before the Court in Hughes v. Northwestern University, No. 19-1401 (US 24 January 2022). In a unanimous opinion written by Judge Sotomayor,Read More →

NEW BETHLEEM – After several months of discussions and meetings, an agreement regarding extracurricular fundraising requirements has finally been reached between officials of the Redbank Valley school district and the district sports promotion organization. At their regular meeting Monday night, Redbank Valley School Board members approved the Sports Facilitator ContributionRead More →

Friday, June 4 marks the day the Presidential Coordinating Commission on Climate Change decides its position on South Africa’s Nationally Determined Updated Contribution (or NDC, a plan highlighting actions, targets, climate policies and measures to be implemented in response to climate change, and as a contribution to the achievement ofRead More →

BALTIMORE, June 1, 2021 /PRNewswire/ — T. Rowe Award (NASDAQ-GS: TROW) has developed a new framework to help sponsors of defined contribution (DC) plans evaluate retirement income solutions for members to meet the changing needs of retirees. The valuation framework is intended to allow plan sponsors to tailor their DCRead More →

Dragon Capital VietFund Management, a Ho Chi Minh-based fund management company, has launched Vietnam’s first private sector retirement savings vehicle. The defined contribution plan, with government tax incentives for employees and employers, offers savers three fund options: a relatively high risk 50-50 split between stocks and bonds, a mix ofRead More →

The US Department of Labor (DOL) has unveiled an interim final rule (the “Lifetime Income Disclosure Rule”) that adds a new lifetime income disclosure requirement for administrators of defined contribution plans (for example, plans covered by Section 401 of the Internal Revenue Code (Code) (k) or Section 403 (b) ofRead More →

Earlier this year, we discussed the lifetime income disclosure requirement included in the Every Community Establishment for Retirement Enhancement Act of 2019 (the “SECURE Act”). When the disclosure requirement takes full effect, the benefit statement issued by each defined contribution plan governed by ERISA must include lifetime income illustrations andRead More →

Earlier this month, the U.S. Department of Labor (“DOL”) issued a newsletter confirming the widely held view that private equity can be small components of diversified investment portfolios managed by professional funds, such as target maturity funds and balanced funds, offered to participants in 401(k) plans and other defined contributionRead More →

Early versions of web portals for plan members only provided information on account balances and investment options. Today’s innovative portals supplement this basic information with retirement income planning analysis and member-specific advice on improving retirement outcomes. Layout and site designs and user interaction features are also changing, based on behavioralRead More →

Defined benefit plan or defined contribution plan: an overview Employer pension plans are divided into two broad categories: defined benefit plans and defined contribution plans. As the name suggests, a defined benefit plan, also known as a traditional pension plan, provides a specified payment amount at retirement. A defined contributionRead More →