December 31st, 2024 Insight on Plan Design & Investment Strategy Every Weekday Compliance 10-Year RMD Rule Finalized by IRS Inherited retirement assets will be subject to different treatment depending on the recipient, starting in 2025. Editor's Note Editor’s Note During the holiday period, please enjoy compilations of our work from throughout the year. Today, the 10 most-read PLANSPONSOR articles of 2024. Find out more about PLANSPONSOR’s 2025 editorial coverage plans on our 2025 Editorial Calendar. The daily NewsDASH will resume on January 3. Most Read Compliance FTC Issues 2nd Report Exposing Practices of Pharmacy Benefit Managers Compliance 2025 Retirement Outlook Includes Tax Reforms, Cryptocurrency and Litigation Reform Compliance EBSA Offers Proposed ESOP Appraisal Regulations MARKET MIRROR Monday, the Dow dropped 418.48 points (0.97%) to close at 42,573.73, the Nasdaq fell 235.25 points (1.19%) to close at 19,486.79 and the S&P 500 dropped 63.90 points (1.07%) to close at 5,906.94. The Russell 2000 fell 16.81 points (0.75%) to close at 2,227.78, and the FT Wilshire 5000 Index dropped 628.91 points (1.05%) to close at 59,204.59. The 10-year Treasury note was up 6/32, bringing the yield to 4.555%. The 30-year Treasury bond rose 30/32, bringing the yield to 4.769%. Administration Another Trump Term May Change Tax Treatment of Retirement Plans From ESG investing in 401(k) plans to the solvency of Social Security, industry experts say the outcome of the election may have significant consequences for retirement policy. Benefits Social Security COLA Increase to Add About $50 per Month in 2025 The 2.5% increase was anticipated by industry watchers amid lower inflation. Compliance DOL Lawsuit Alleges TPA Stole $5.5M in Retirement Plan Assets From 17 Clients A restraining order has been filed in the Department of Labor lawsuit against Pennsylvania third-party administrator RiversEdge. Compliance AT&T Sued Over 2023 Pension Risk Transfer with Athene Annuity and Life Retirees alleged that AT&T shifted its pension responsibilities for 96,000 participants to a ‘risky’ insurance company, according to the lawsuit. Participants IRS Notice Defines Retirement Plan Tax Distribution Exceptions The IRS has provided guidance on certain exceptions from the 10% tax penalty for emergency personal or family expenses and for survivors of domestic abuse. Products JP Morgan Announces Lifetime Income TDF The asset manager adds to the roster of large financial firms targeting the market for pension-like retirement savings in DC plans. Compliance TIAA, Morningstar Sued Over Retirement Advice Tool A Schlichter Bogard-led complaint alleges that providers pushed participants into retirement advice that led to TIAA annuity investments. Administration IRS Increases 401(k) Limit to $23,500 for 2025, IRA Limit Stays $7,000 The announcement comes with guidance on all the cost-of-living adjustments affecting limitations for pension plans and other retirement-related items for tax year 2025. Compliance President Biden Budget Proposes Imposing RMDs on Large Retirement Accounts The proposal would apply to Roth sources in excess of $10 million for individuals earning $400,000 or more. SMALL TALK ON THIS DATE: In 1775, American troops under General Richard Montgomery and Colonel Benedict Arnold were defeated by the British in the Battle of Quebec. In 1869, Henri Matisse, the artist often regarded as the most important French painter of the 20th century, was born. In 1972, baseball great Roberto Clemente died in an airplane crash en route to Nicaragua with relief supplies collected for earthquake survivors. In 1991, the Soviet Union legally ceased to exist, Russia and other former Soviet republics having declared themselves independent having founded the Commonwealth of Independent States on December 21, 1991. In 1999, Russian President Boris Yeltsin resigned, and Prime Minister Vladimir Putin became acting president; Putin was elected to the post the following year; in the same year, the United States officially handed over control of the Panama Canal to Panama. Did someone forward you this newsletter? Sign up here to get NEWSDash directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2025 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850