The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
July 24, 2026
— § —
12 items · ~4 min read
Top of the Brief
Using a cash balance pension plan to mitigate tax exposure for high earners“In today’s tax environment, where combined federal and state income tax rates can exceed 50%, professional service firms frequently seek ways to mitigate tax exposure for their partners.”
In this issue
Regulatory Action and Guidance (2) · Retirement Plans (4) · Litigation (1) · General Benefits (4) · Webinars (1)
Regulatory Action and Guidance
2 items“The Treasury Department released its Agency Rule List, which contains several important retirement, health, and executive compensation initiatives for this year......” MORE >>
Source: Littler
“The Senate Committee on Health, Education, Labor, and Pensions was forced to delay its vote to advance the nomination of Acting Secretary of Labor Keith Sonderling to be the long-term secretary due to a lack of attendance.” MORE >>
Source: PLANSPONSOR
Retirement Plans
4 items“In today’s tax environment, where combined federal and state income tax rates can exceed 50%, professional service firms frequently seek ways to mitigate tax exposure for their partners.” MORE >>
Source: Milliman
“Private investments could account for roughly 6% of defined contribution plan assets — or about $1.1 trillion — by 2030, according to a Deloitte analysis. A more conservative scenario, the firm projected, would result in allocations of roughly $200 billion. If private investments such as private equity, private credit and other alternatives do become more widely available in retirement plans, advisors will increasingly have to weigh potential diversification benefits against concerns over illiquidity, higher fees and risk.” MORE >>
Source: Employee Benefit News
[Regulatory Action and Guidance]
The Long Road to Long-Term Care Distributions“First, the provision is available only through eligible defined contribution plans, including qualified plans under Code section 401(a), section 403(b) plans, and governmental section 457(b) plans. Notably, nongovernmental section 457(b) plans are not eligible to offer qualified long-term care distributions. Qualified long-term care distributions are also available only for premiums paid for "certified long-term care insurance" that covers the participant or the participant's spouse. Qualifying coverage includes: The coverage must provide “meaningful financial assistance” in the event the insured needs home-based or nursing home care. Coverage will not be deemed meaningful unless it is adjus” MORE >>
Source: Bricker Graydon
“While the firms' first jointly developed investment solutions target wealthy investors, an under-the-radar detail in Wednesday's announcement signals plans to expand the strategic alliance into retirement-focused products—potentially bringing more private market solutions to workplace retirement plans An interesting detail of interest to the retirement market was buried near the bottom of a press release Wednesday about Wellington Management, Vanguard and Blackstone unveiling their first jointly developed investment solutions for wealthy investors.” MORE >>
Source: 401(k) Specialist
Litigation
1 item“The Labor Department has filed an amicus brief with a federal appellate court “clarifying the business requirements for offloading defined benefit plan liabilities through pension risk transfers.” MORE >>
Source: American Retirement Association
General Benefits
4 items“Forgot Your Password? If you do not yet have an ERIC Online profile or user name and password, please create one using Create Profile Form. If you need assistance with your user name/password or profile, please contact ERIC at (202) 789-1400.” MORE >>
Source: ERIC
[Regulatory Action and Guidance]
Long-Term Care Focus: Q2 2026“Washington’s WA Cares Fund, the first public state-based LTC program in the country, will begin paying benefits on July 1, 2026, marking a major implementation milestone. The program also advanced at the end of 2025 with legislation allowing contributions to be invested in equities, and this year a workgroup was formed to evaluate policy options for late career workers moving into Washington. Milliman continues detailed tracking of LTC legislative activity across states; if you would like a summary of updates from this tracking, please reach out to your Milliman consultant, and we will be happy to provide. The market for annuities that include LTC insurance benefits picked up in 2025, with o” MORE >>
Source: Milliman
[Regulatory Action and Guidance]
Developing Inspector General Faults DOL for Weak Oversight of Common Interest Agreements“The Subcommittee on Workforce Protection accused the Department of Labor (DOL) under the Biden Administration of sharing confidential information with outside parties. In their hearing, “Broken Trust: How the Biden-Harris DOL Leaked Confidential Information,” the subcommittee, along with the Office of the Inspector General (OIG), argued that the Biden-Harris administration “improperly shared confidential investigative information with outside lawyers and advocacy groups.” Subcommittee members observed examples of violations during the Biden Administration, including one in which a Biden appointee and senior counselor to the former DOL Acting Secretary Julie Su was given access to confidentia” MORE >>
Source: 401(k) Specialist
“As venture-backed companies stay private longer than ever before, the design and implementation of employee ownership programs ("ESOPs") must evolve to address a mismatch with potentially large incentive implications. The latest data reveals a striking paradox for the U.S.: start-ups are taking 10-12 years to reach exits, while employees in many sectors often stay for an average of just 2-3 years.” MORE >>
Source: JD Supra
Webinars
1 item[General Benefits]
PODCAST – Trump Accounts Explained: A New Employee Benefit for Families“On this episode of Williams Mullen’s Benefits Companion, host Brydon DeWitt discusses Trump Accounts, a new tax-advantaged savings vehicle for eligible children that may create a fresh employee benefit opportunity for employers. Brydon breaks down how these accounts work, the federal pilot contribution, the annual contribution limits, and how employers may contribute on a tax-free basis under a qualifying contribution program.” MORE >>
Source: JD Supra