Retirement Regulation

The IRS and the Treasury issued a new notice that addresses long-term, part-time employees' eligiblity in 403(b) retirement plans beginning in 2025, including rules to exclude student employees.

With 30% of the retail pharmacy's employees facing student debt, Walgreens will match student loan payments up to 4% of eligible pay for employees after one year plus 1,000 hours of service.

The American Retirement Association is urging the IRS to delay implementation of the proposed required minimum distributions rules under SECURE 2.0 by 18 months.

Sen. Elizabeth Warren's new report, "Cancun, Cruises and Cash," found that "perks and kickbacks" allow fiduciaries to work against the best interests of "Americans who work hard and save for retirement."

There's a push by Congress, spearheaded by ranking committee member Sen. Tim Scott, to include the ability for 403(b) plans to use the low-cost CIT investment options that many 401(k) plans use today.

An estimated 80% of plan sponsors are overpaying administrative and investment fees due to failure to benchmark their plans annually, according to Steven Abernathy, Principal and Chairman of Abernathy Daley 401K Consultants.