On August 7, 2025, President Trump issued an executive order titled “Democratizing Access to Alternative Assets for 401(k) Investors.” The order seeks to expand access to alternative investments in retirement plans, aiming to diversify investment options for plan participants.
Todd Solomon recently appeared on the 401(k) Roundtable™ podcast. Hosted by Rick Unser of Creative Planning Retirement Services, the podcast is designed to help plan sponsors, fiduciaries, and members of retirement plan committees stay up to date on recent developments in the benefits industry.
During the episode, Todd explored the changing fiduciary landscape, trends in Employee Retirement Income Security Act litigation, the influence of the Trump administration on the US Department of Labor, and the evolving expectations surrounding fiduciary duties. He delved into the balance between the duty of loyalty and prudence, the significance of participant demographics in making plan decisions, and the difficulties plan sponsors face when weighing cost against value, particularly when choosing investments like target-date funds. Todd and Rick also stressed the importance of thorough documentation, active committee involvement, and creative approaches to improving participant outcomes in today’s intricate regulatory climate.
On January 16, 2025, the US Department of Labor’s (DOL) Employee Benefits Security Administration released two proposed regulations related to employee stock ownership plans (ESOPs). One regulation aims to clarify the valuation process for non-publicly traded employer stock, while the other would provide a safe harbor for transactions involving newly established ESOPs.
However, on January 20, 2025, the Trump administration froze all pending proposals, including the DOL’s ESOP regulations. If finalized, these regulations would dramatically change the landscape for fiduciaries responsible for valuing stock in privately held corporations during transactions with ESOPs.
Many countries finalized new regulations and released new guidance in 2024 that will impact global equity plans. This client alert highlights key updates from Canada, the European Union, the United Kingdom, Brazil, and other jurisdictions, and recommends steps companies should take to address them.
With the 2025 plan year right around the corner, this is the ideal time for plan sponsors to ensure that plan operations comply with evolving legislative and regulatory requirements. This client alert highlights important regulatory changes that will impact retirement plans and health and welfare plans in the coming year.
Read more here.On October 3, 2024, the Internal Revenue Service (IRS) released Notice 2024-73, which provides guidance on the application of nondiscrimination rules under Internal Revenue Code § 403(b) for long-term, part-time employees. The notice also announces that the final regulations, which the IRS will issue for 401(k) plans on long-term, part-time employees, will apply to plan years beginning on or after January 1, 2026.
Read more about this and other IRS regulatory updates in this Weekly IRS Roundup.
The Internal Revenue Service (IRS) has announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2025. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2025. The Social Security Administration released separate adjustment amounts.
On August 19, 2024, the Internal Revenue Service issued Notice 2024-63 (the Notice), providing guidance regarding the implementation of Section 110 of the SECURE 2.0 Act of 2022, which permits employers with a 401(k) plan or 403(b) plan to provide matching contributions to employees based on employee student loan payments. Through various questions and answers, the Notice provides practical information on how to administer eligibility rules, employee certification, nondiscrimination testing, and other procedures.
Read more here.Last month, the Internal Revenue Service (IRS) released long-awaited guidance on matching contributions for qualified student loan payments under § 401(k) of the Internal Revenue Code and other similar retirement plans. This guidance aims to help plan sponsors with setting up these programs for plan years beginning after December 31, 2024, until proposed regulations are issued.
Learn more and see other updates in this Weekly IRS Roundup.
The Internal Revenue Service (IRS) recently released a new revenue procedure that outlines how sponsors of defined benefit pension plans should request approval to use plan-specific substitute mortality tables for plan years beginning on or after January 1, 2025. The IRS also issued new proposed regulations that would increase penalties for employers that erroneously claimed employment tax credit refunds under the Families First Coronavirus Response Act; the Coronavirus Aid, Relief, and Economic Security Act; and the American Rescue Plan Act of 2021.
Check out this Weekly IRS Roundup here for more information.
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