Happy Friday, PLANSPONSOR readers! This week, the ICI challenged the common belief that we are past a “Golden Age” for pensions. Its research found that the share of retirees with private pension income has more than doubled since 1975. The IRS released a required amendment list for qualified plans, and the Segal Group released a calendar tracking vital compliance deadlines for plan sponsors. In addition, new studies reveal investor preferences for plan communication and the issues holding them back from contributing more to their retirement accounts.
DC plan participants are not very confident about saving enough for retirement, and providers are recognizing ways to boost website and digital communications to address this, a study finds.Read more >
The defendant in the case, CommonSpirit Health, was accused of committing fiduciary breaches in the provision of an active target-date fund suit—allegations rejected both in district court and on appeal.