Wednesday, October 18th, 2023 A topical newsletter from PLANSPONSOR Information for plan sponsors about defined benefit plans. SPONSORED AD Benefits Is It Time for an ERISA Reboot? Many industry experts believe there is a need for an ‘ERISA 2.0’ that includes a stronger framework for universal coverage, lifetime income, defaults and more. Benefits US Corporate Pension Funding Rises Despite September Market Challenges Equity losses for the month were offset by the largest single-monthly decline in liability value this year. Data and Research Market Conditions Continue to Fuel Pension Risk Transfers    The majority of plan sponsors with the goal of mitigating pension plan risks are looking to fully divest their company’s pension liabilities, according to MetLife.  Compliance Pension Plans of Kellogg, Kohler, FedEx Sued for Outdated Calculations    A law firm has sued four defined pension plans over the last six weeks alleging fiduciaries violated ERISA and shortchanged vested participants. Participants Is the UAW’s Demand for Return of Pensions a Realistic Ask? In addition to wage increases and an end to wage tiers, the United Auto Workers are demanding the return of defined benefit pension plans, as well as retiree health care coverage. Compliance What Does SECURE 2.0 Do for 420 Transfers? Even though it opens the process up for more pension funds to participate, few are likely to take advantage. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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