Defined Contribution

The state House and Senate approved the legislation, which would step up efforts to enroll employees in the Maine Retirement Investment Trust, and is now awaiting the governor's signature.

The SPARK Institute submitted several recommendations regarding Saver's Match and proper use of forfeited plan funds to be part of the upcoming 2025-2026 Priority Guidance Plan, in a letter sent to the Treasury and the IRS.

This week, Cigna was again sued for fiduciary violations for using forfeited funds to reduce employer contributions to the plan, following a similar suit last month. What's surprising is that another health insurer, UnitedHealth, is now facing two similar 401(k) lawsuits.

Democratic lawmakers sent a letter to Labor Secretary Lori Chavez-DeRemer, inquiring about the future of the Council that advises the DOL on ERISA-related issues.

President Trump invited top business leaders and lawmakers to a Monday "Invest in America" Roundtable at the White House, to promote the tax-deferred investment accounts for newborns, included in the major tax-cut bill.

Though PEPs have been in existence for over 50 years, SECURE 2.0 provisions and the pricing power of pooled structures is prompting more organizations to seek them out instead of 403(b)s or 401(k)s.