The Weekly Highlights for Benefits Professionals
BenefitsWire
Retirement Plans
Week of July 24, 2026
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12 items · ~3 min read
Regulatory Action and Guidance
12 items“Nonpartisan seniors’ group The Senior Citizens League (TSCL) predicts this year’s COLA to be 3.8%, unchanged from last month’s forecasts but still 1% higher from 2026’s official figure of 2.8%. If TSCL’s projected 2027 COLA went into effect today, average benefits would increase by $73.62, or from $1,937.53 to $2,011.15. Meanwhile, Mary Johnson, an independent Social Security and Medicare analyst, forecasts the 2027 COLA at 3.7%, as inflation dropped for the month of June.” MORE >>
Source: 401(k) Specialist
“In our latest issue of Medical Liability Monitor, we summarize results from the first quarter of 2026 for a composite of medical professional liability (MPL) specialty writers.” MORE >>
Source: Milliman
“PBGC concluded that, if the active participants are expected to remain employed, the reduction in headcount would not trigger a reportable event. Under ERISA section 4043, defined benefit plan administrators must notify PBGC when certain “reportable events” occur. One of those events is a reduction in the active participant headcount. Under that rule, if the headcount under a defined benefit plan is reduced by 20% or more from the count at the start of the year, the plan administrator must notify PBGC.” MORE >>
Source: Groom Law Group
“Quick Hits The NPRM, titled, “Removal of Reporting Requirements,” seeks to rescind and remove the requirements to file EEO reports, specifically the filing of EEO-1, EEO-2, EEO-3, EEO-4, EEO-5, and EEO-6 reports and the report-specific recordkeeping and record preservation requirements.” MORE >>
Source: Ogletree Deakins
“This proposed rule would provide the Pension Benefit Guaranty Corporation’s policies for calculating, imposing, and waiving monetary penalties to pension plans for failure to provide certain required notices or other material information timely to PBGC and plan participants.” MORE >>
Source: Federal Register
“The Form 5500 Filing Simplification Act would establish a single statutory filing deadline for Form 5500 annual reports, eliminating the need for most employers to submit a separate IRS Form 5558 extension request. The bill also would authorize electronic signatures on Form 5500 filings and related reports and would direct the Department of the Treasury, the Department of Labor and the Pension Benefit Guaranty Corporation to modernize filing requirements and align their regulations accordingly.” MORE >>
Source: PLANADVISER
“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
“A U.S. district court has vacated Notice 2025-42, which narrowed the beginning of construction (BOC) rules for wind and solar facilities seeking section 45Y or 48E tax credits and remanded the matter to the Internal Revenue Service (IRS) for further consideration. Oregon Environmental Council v. IRS, No. 25-4400 (CKK) (D.D.C. June 06, 2026). The court held that the Notice inadequately explained the elimination of a BOC safe harbor only for wind and solar projects and, consequently, was arbitrary and capricious under the Administrative Procedure Act (APA).” MORE >>
Source: Miller & Chevalier
The IRS is inviting public comments on a new information collection request related to gathering qualitative feedback on the agency's service delivery. MORE >>
Source: Federal Register
“The U.S. Department of Justice (DOJ) has continued to enforce the Foreign Corrupt Practices Act (FCPA) in 2026, while also seeking to dismiss certain high-profile FCPA prosecutions that began before the second Trump administration.” MORE >>
Source: Arnold & Porter
“The Treasury Department released its Agency Rule List, which contains several important retirement, health, and executive compensation initiatives for this year......” MORE >>
Source: Littler
“Most qualified retirement plans, including 401(k), 403(b), and defined benefit plans, must be amended to reflect applicable mandatory and optional provisions of all three laws by December 31, 2026. 401(k) plans are most affected. The Internal Revenue Service (IRS) initially provided an extended period of time between the date the reforms were enacted and the deadline for qualified plans to be amended; however, unless the IRS acts soon to provide a further extension, the December 31, 2026, deadline will stand.” MORE >>
Source: mondaq.com