The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
July 7, 2026
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11 items · ~3 min read
Top of the Brief
IRS Notice 2026-33: Guidance on Qualified Long-Term Care Distributions from Defined Contribution Plans“IRS Notice 2026-33 (May 2026) provides comprehensive administrative guidance implementing SECURE 2.0 Act §334, permitting defined contribution plans to make penalty-free 'qualified long-term care distributions' up to the lesser of premiums paid, 10% of the vested account balance, or $2,600 (2026, indexed) for certified LTC insurance. The notice establishes issuer disclosure requirements, the new Form 1099-LPS reporting regime, plan administrator safe harbors, and extends the plan amendment deadline for most non-governmental DC plans from December 31, 2026 to December 31, 2027.”
In this issue
Regulatory Action and Guidance (4) · Retirement Plans (4) · General Benefits (1) · Press Releases (1) · Litigation (1)
Regulatory Action and Guidance
4 items“The Department of Labor’s Employee Benefits Security Administration (EBSA) has a full slate of regulatory guidance items that it intends to address before the end of the year.” MORE >>
Source: psca.org
“The Department of Labor will focus heavily on fiduciary rules and SECURE 2.0 guidance, according to the newly published 2026 Unified Agenda.” MORE >>
Source: PLANSPONSOR
"A new report from the Department of Labor’s Office of Inspector General finds that the Employee Benefits Security Administration lacked adequate oversight, procedures and tracking mechanisms for its use of common interest agreements with outside parties." MORE >>
Source: American Retirement Association
“IRS Notice 2026-33 (May 2026) provides comprehensive administrative guidance implementing SECURE 2.0 Act §334, permitting defined contribution plans to make penalty-free 'qualified long-term care distributions' up to the lesser of premiums paid, 10% of the vested account balance, or $2,600 (2026, indexed) for certified LTC insurance. The notice establishes issuer disclosure requirements, the new Form 1099-LPS reporting regime, plan administrator safe harbors, and extends the plan amendment deadline for most non-governmental DC plans from December 31, 2026 to December 31, 2027.” MORE >>
Source: irs.gov
Retirement Plans
4 items“The program's debut marks the culmination of a rapid implementation effort following last year's One Big Beautiful Bill Act, which included the accounts as Section 530A of the Internal Revenue Code. ... More than 50 employers have already committed to offering contributions for employees' children, Treasury said. ... The Department of Labor also clarified that most employer contributions to Trump Accounts will not, by themselves, create a retirement plan covered by the Employee Retirement Income Security Act, removing what many employers viewed as a key legal uncertainty ahead of the launch.” MORE >>
Source: PLANSPONSOR
“We have all been well attuned over the decades since mutual funds became available to be daily traded under DC plans to a very particular view of an investment funds’ cost.” MORE >>
Source: Business of Benefits
“The CRI's analysis of Form 5500 data found that PEP fees are not always lower than those of single-employer plans. ... Outside of a PEP, retirement plans that are subject to the Employee Retirement Income Security Act and have at least 100 participants must file an annual independent audit, which typically costs between $11,000 and $15,000 per year. In a PEP, this cost can be shared among participating employers—though that includes employers with fewer than 100 participants, employers that otherwise would not have been subject to the audit requirement or fee before joining a PEP.” MORE >>
Source: PLANSPONSOR
[Press Releases]
Developing New 403(b) Pooled Employer Plan Unveiled“The solution offers a bundled administrative model, with Newport serving as the pooled plan provider and administrative fiduciary, Ascensus serving as recordkeeper, and Aprio providing independent investment fiduciary oversight, the announcement further advised.” MORE >>
Source: American Retirement Association
General Benefits
1 item“In the News Niloy Ray and Jorge Lopez discuss key findings of Littler’s 2026 Employer Survey Report related to AI integration in the workplace and immigration enforcement challenges for employers.” MORE >>
Source: Littler
Press Releases
1 item“The two partners will develop a model that “can serve as a centralized channel for secure data integration and transactions,” to reduce operational hurdles Deloitte and Retirement Clearinghouse (RCH) last week announced a new partnership to address retirement savings portability.” MORE >>
Source: 401(k) Specialist
Litigation
1 item[General Benefits]
Prudent Process Prevails (Even) on Appeal“Sometimes, even a good process produces disappointing results.” With those words U.S. Circuit Judge Stephanos Bibas dismissed a suit that had claimed a fiduciary breach in the selection and retention of certain investments.” MORE >>
Source: American Retirement Association