Defined Contribution

The Employee Benefits Security Administration's Abandoned Plan Program launches its online portal to assist in winding up individual account pension plans that have been abandoned by bankrupt companies.

The new RMD rule, finalized by the IRS, requires annual minimum inherited retirement assets to begin the year after the participant's death.

The new guidance follows a new provision in SECURE 2.0, allowing employees to withdraw $1,000 from their retirement accounts for medical care or "any other necessary emergency personal expenses," according to the IRS.

Because of the recent Supreme Court decision to overturn 40 years of federal agency deference, the appellate court ruled that the ESG case should go back to the Texas judge who originally heard the case.

The DOL's push to impose a new fiduciary rule, which continues to face lawsuits, could actually offer financial benefits overall for small employer 401(k) plans, says a new Employee Fiduciary study.

One key finding: 401(k) plan participants saved at historic rates in 2023, with the average participant deferral rate reaching a record-high 7.4%.