Defined Benefits

Senator Bernie Sanders’ Pensions for All Act would require employers to provide a traditional pension plan for their workers or pay into the federal retirement system to ensure they receive the same amount of retirement benefits as members of Congress.

The North Carolina-based hospital system was sued by a former employee, alleging WakeMed used “forfeited funds to reduce Company contributions to the Plan” instead of using the funds to reduce "the amounts charged to Plan participants” for administrative services.

The Supreme Court will hear a case against the IAM National Pension Fund, which could affect most of the nation’s 1,400 multiemployer plans.

While over half of annuity providers already offer a retirement in-plan solution, a majority believe that automatic plan defaults will be the most effective catalyst for broader adoption, according to a Goldman Sachs annuity survey.

The Retirement Fairness for Charities and Educational Institutions Act of 2025 is supported by the National Association of Government Defined Contribution Administrators, which serves 15 million teachers, hospital workers, and nonprofit employees.

A federal court overruled the Pension Benefit Guaranty Corporation’s decision not to offer financial assistance to the bakery fund, but it now opens the door to 100 other previously ineligible pension plans to apply for special financial assistance, says the risk advisory letter.