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Vanguard to Exit Individual 401k Business With Ascensus Deal

Fiduciary Training for Female Advisers

LeafHouse, iJoin and ARS Launch Managed Account With Lifetime Income TDF

Definiti Launches Adviser-Focused Program

"DOL Audit Defense" Among Trio of New Services Introduced by Human Interest

Alera Adds The Standard to PEP Offering

Lincoln Financial Introduces PEPs for 401k and 403b Plans

2024 Plan Sponsor of the Year

Ascensus to Buy Mutual of Omaha's 401k Recordkeeping Business

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

Retirement Lost and Found: DOL Proposes Voluntary Reporting

The SECURE 2.0 Act of 2022 directed the DOL to establish a database that individuals can search to help locate their retirement benefits. The database was originally intended to leverage existing filing requirements, but the IRS determined it could not legally share Form 8955-SSA data with DOL. Consequently, DOL has issued a proposed procedure to collect data directly from plan administrators voluntarily via a new filing made along with, but not as part of, Form 5500.

Source:, April 2024

Revisiting Plan Service Provider Agreements: To Provide or Not to Provide to Plan Participants

In Zavislak v. Netflix, the court held that the plan administrator of a health plan was not required to provide a participant with copies of various service provider agreements. While the Zavislak decision provides a detailed analysis of the topic, the issue of whether service provider agreements must be disclosed remains unsettled across other jurisdictions. Accordingly, plan administrators who receive such requests should consider the extent to which such agreements must be provided based on case law in the applicable jurisdiction.

Source:, April 2024

How IRS Notice 2024-35 Affects Beneficiaries

Under the proposed RMD regulations, if an account owner dies on or after their required beginning date, beneficiaries who are subject to the 10-year rule must take annual life expectancy payments during the first nine years. This applies to beneficiaries of account owners and to successor beneficiaries of eligible designated beneficiaries who died in 2020 or later.

Source:, April 2024

IRS Provides Guidance Regarding 2024 RMDs

The IRS has issued Notice 2024-35, which guides certain required minimum distributions for 2024. Notice 2024-35 also states that final regulations regarding RMDs will not apply before the 2025 distribution calendar year. Here is a review of the guidance.

Source:, April 2024

DOL Issues Final Rule Amending QPAM Exemption

On April 3, 2024, the DOL released its final rule amending Prohibited Transaction Exemption 84-14. The inclusion of foreign crimes modernizes PTE 84-14 in light of the increasing globalization of the financial services sector, and the increase in asset management and equity thresholds ensures that the exemption remains limited to large managers.

Source:, April 2024

Fifth Circuit Revives ERISA Imprudence Lawsuit Over Investments and Recordkeeping Fees

In Perkins v. United Surgical Partners International, Inc., the court concluded that Defendants failed to refute the Plaintiffs' allegations about the more expensive retail shares and that the Plaintiffs sufficiently allege a plausible breach of the duty of prudence. Concerning recordkeeping costs, the court concluded that the Plaintiffs' allegations about the Plan's costs in comparison to other similar plans are sufficient to survive dismissal.

Source:, April 2024

Paychex Seeks to Move ERISA Case Over Intercepted 401k Assets to Federal Court

Paychex plans to fight a New York retirement lawsuit, alleging fiduciary breach, but argues that it belongs in a federal court because the court is the correct authority for a case under ERISA, a federal law.

Source:, April 2024

The Art of Communicating to Employees: A Guide for Plan Sponsors

In a 2022 study by LIMRA, 60% of retirement plan participants in the study felt that communications about their plan were "ineffective." This lack of productive communication may lead to lower enrollment, and indifference about plan benefits, and perhaps contribute to overall employee apathy, morale, and productivity issues. Here are some insights on how to successfully reach participants about their retirement plan in a way they understand and is meaningful to them.

Source:, April 2024

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