United States: Retirement, Superannuation & Pensions

Twenty-two multiemployer pension plans (MEPPs), representing more than 25,000 participants, have filed suit against the Pension Benefit Guaranty Corporation (PBGC) in the United States District Court for the District of Columbia, alleging that the agency improperly denied them access to billions of dollars in emergency retirement funding.

No retroactive refund required. FAQ Part 74 confirms that employers are not required to provide retroactive rewards or remove tobacco surcharges for the period before a participant completes...

ERISA fiduciaries must navigate complex legal requirements when administering health and retirement plans, often requiring expert guidance. Understanding the proper safeguards and requirements for relying on expert advice is crucial to defending against breach of duty claims while ensuring plan participants receive their entitled benefits.

The Pension Benefit Guaranty Corp. settled a discrimination lawsuit filed by a Black employee who alleged he was passed over for promotion in favor of a less qualified white candidate. The case raises questions about whether the agency's hiring practices violated Title VII protections and whether prior discrimination complaints influenced the promotion decision.

The Treasury Department and IRS have released Notice 2026-48, providing the first comprehensive guidance on SECURE 2.0's new Saver's Match program. This federal matching contribution for low- and moderate-income retirement savers introduces complex implementation challenges, including how to route taxpayer matches directly to retirement plans and IRAs. The Notice addresses eligibility requirements, income limits, contribution types, and delivery mechanisms while requesting public comments on operational app

The Ninth Circuit's decision in City of Tacoma v. Western Metal Industry Pension Fund addresses a critical question for employers facing withdrawal liability assessments: Can multiemployer pension funds use lower PBGC annuity rates instead of higher funding rates when calculating what departing employers owe? This case reveals the substantial financial stakes involved and the challenging legal landscape employers must navigate when contesting these assessments, even when courts have previously ruled against

The Department of Labor has issued Technical Release 2026-02 addressing the ERISA status of Trump Accounts and employer contribution programs.

The deadline to adopt required amendments for several types of retirement plans is nearing. As discussed below, sponsors of many types of retirement plans must adopt amendments to reflect required and optional changes...

As the December 31, 2026 deadline approaches, employers maintaining 403(b) retirement plans must adopt restated pre-approved plan documents to comply with Cycle 2 requirements. This critical deadline encompasses changes from the SECURE Act, CARES Act, and other regulatory updates affecting tax-exempt organizations and public educational institutions.