The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
July 14, 2026
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7 items · ~2 min read
In this issue
Regulatory Action and Guidance (2) · Litigation (1) · Retirement Plans (2) · General Benefits (1) · Webinars (1)
Regulatory Action and Guidance
2 items“Language was added to an emergency funding bill that provides for the creation of Massachusetts Secure Choice. The Bay State's House of Representatives passed the measure on July 8 in a 148-2 vote. ... The program would apply to employers that (1) had 25 or more employees in the previous calendar year. (2) had been in business for at least two years, and (3) had not offered a qualified retirement plan in the preceding two calendar years. ... Employers that fail without reasonable cause to enroll an employee who has not elected out of participation, in the program within the time prescribed by the state treasurer, would be subject to a penalty equal to $250 for each employee for each calendar” MORE >>
Source: American Retirement Association
“Those covered by Rhode Island Secure Choice — the program that provides retirement plan coverage to employees of private-sector employers that do not offer it to their employees — now include self-employed people age 18 or older. The legislation providing for that expansion, H 7475, went into effect on June 23, 2026, the day Rhode Island Gov. Dan McKee (D) signed the measure into law. ... The new law that allows self-employed people to participate in Rhode Island Secure Choice does not repeal the five-employee threshold, nor amend the threshold to do so. Therefore, private-sector employers in Rhode Island with one to four employees are not required to register with the program if they do not” MORE >>
Source: American Retirement Association
Litigation
1 item“The Third Circuit's decision was based on the very clear point that has eluded so many other courts: ERISA is a law of process, not a law of results. The fact that a fund underperformed another fund is not the key point; the critical inquiry is whether the plan fiduciary engaged in a prudent process in deciding to select or retain an allegedly underperforming fund. ... The point that is not made nearly enough is that underperformance alone cannot support a claim of a fiduciary breach.” MORE >>
Source: Encore Fiduciary
Retirement Plans
2 items[Regulatory Action and Guidance]
30 Industry Groups Urge Senate to Pass CITs in 403(b)s Legislation“CEOs send letter to Senate Banking Committee asking for movement on House-passed bipartisan bill that would finally permit access intended by SECURE 2.” MORE >>
Source: 401(k) Specialist
“When employees change jobs, small balances are often cashed out — driving significant” MORE >>
Source: American Retirement Association
General Benefits
1 item[Regulatory Action and Guidance]
Trump Accounts and Code Section 128 Employer Plans: Employer Contribution and Plan Design Considerations“Trump Accounts launched on July 4, 2026. These special individual retirement accounts (IRAs) can help children under 18 build savings. The trumpaccounts.gov website provides illustrative estimates showing significant growth potential....” MORE >>
Source: JD Supra
Webinars
1 item“Are You Meeting Social Security Coverage Requirements? Understanding Social Security coverage isn’t always straightforward for governmental employers.” MORE >>
Source: JD Supra