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NAPA Launches Its Latest Certificate Program: 401k Managed Accounts

PLANADVISER'S 2025 Retirement Plan Adviser of the Year Winners

Midland Advisory Partners With Dimensional on Annuities

Empower to Offer Private Markets Investments to Retirement Plans

Betterment Acquires Rowboat Advisors to Accelerate Platform for RIAs

Vestwell Partnership Allows Savvy Wealth Advisors to Manage Client 401k Plans

Empower Launches Zero-Fee Index Fund for Retirement Investors

World Investment Advisors Partners With Pontera to Equip Advisors With Secure 401k Account Management Capabilities

Schwab, Candidly Team Up to Provide Student Loan Retirement Matching Resources


From Across the Web, the Latest Published Articles, Papers, Research, and More

Converting a SIMPLE IRA to a Safe Harbor 401k

This guide serves as a concise reference outlining the SECURE 2.0 provisions that allow plan sponsors to terminate a SIMPLE IRA mid-year and transition to a safe harbor 401k replacement plan.

Source: Spconsultants.com, May 2025

Fidelity Went Live Last Year With 'Free-Money' 401k, Now Schwab Has Launch Its Own Program

Major 401k recordkeepers are competing to provide plan participants access to billions in cash that employers want to allocate under new regulations from the SECURE Act 2.0. Fidelity Investments has initiated a 401k program designed to offer "free money" to individuals with negative net worth, allowing employers to match contributions that directly pay down student debt. Following suit, Charles Schwab Corp. announced it would implement a similar program in partnership with Candidly, a 2016 startup, aimed at supporting millions of young employees who previously lacked access to such options.

Source: Riabiz.com, May 2025

Plaintiff Assessed Court Costs in ERISA Case

A federal judge has approved a request from plan fiduciaries for costs in a dismissed excessive fee lawsuit originally filed in 2022 by participant-plaintiff Guillermina Lopex against Embry-Riddle Aeronautical University, Inc. The lawsuit claimed that the fiduciary defendants included more expensive funds in the $500 million retirement plan than necessary, given the availability of cheaper alternatives. Although it's a positive development for fiduciaries to seek cost recovery after litigation, the judge ultimately reduced their request by half, noting that the lawsuit appeared flawed from the beginning and failed to substantiate its claims after multiple attempts.

Source: Psca.org, May 2025

Plan Fiduciaries Faulted for Proprietary Fund Picks

A lawsuit has been filed by a former participant on behalf of the Teachers Insurance and Annuity Association of America 401k Plan and TIAA Retirement Plan, alleging multiple breaches of fiduciary duty under ERISA. The suit targets TIAA, its Board of Trustees, the Plan Investment Review Committee, and unknown defendants (John Does 1–30). The allegations state that TIAA has retained proprietary in-house managed funds with a higher-cost share class in the Plans, despite the availability of a lower-cost share class, leading to higher fees for the Plans.

Source: Napa-net.org, May 2025

Common Mistakes and Practical Advice When Acquiring a Company With a 401k Plan

Acquiring a company with a 401k plan involves significant risks, especially with recent legal changes and trends. Buyers must understand these developments to avoid harming employees or exposing their 401k plan to prior liabilities. Conducting thorough due diligence on the seller's 401k plan is crucial for making informed decisions and minimizing legal risks.

Source: Foley.com, May 2025

House Panel Advances Bill to Permit CITs in 403b Plans

The U.S. House Financial Services Committee has passed H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Act of 2025, with a vote of 43 to 8. This bipartisan bill seeks to permit 403b retirement plans, typically utilized by nonprofit employees, to invest in collective investment trusts, thus bringing their investment choices in line with those offered by 401k plans.

Source: Bpas.com, May 2025

New Voluntary Fiduciary Correction Program

The new Voluntary Fiduciary Correction Program introduces a Self-Correction Component that allows practitioners to use the DOL Calculator for self-correction of errors. In return for the self-correction, plan sponsors will receive an email acknowledgment of receipt rather than a "no-action" letter. The key difference between self-correction submissions and traditional VFCP filings is that self-correction only requires the retention of supporting documents, while filings necessitate the submission of those documents. Despite the difference, self-correctors must still prepare and keep all documentation as if filing a regular VFCP application.

Source: Belfint.com, May 2025

Multiple Retirement Bills -- Including CITs in 403bs -- Being Marked Up in House This Week

The House Financial Services Committee is holding a two-day session to mark up four bipartisan bills aimed at modernizing retirement plans, improving retail investor access to private markets, lessening regulatory burdens, and protecting seniors from financial fraud. Key bills include the Retirement Fairness for Charities and Educational Institutions Act (HR 1013) and the Improving Disclosure for Investors Act (HR 2441), both prioritized by the Insured Retirement Institute and the Investment Company Institute. Additionally, IRI supports the Senior Security Act (HR 1469), and ICI advocates for the Increasing Investor Opportunities Act among the many bills being considered.

Source: 401kspecialistmag.com, May 2025

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