The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
August 27, 2026
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11 items · ~4 min read
In this issue
Regulatory Action and Guidance (1) · Retirement Plans (6) · Litigation (2) · General Benefits (1) · Press Releases (1)
Regulatory Action and Guidance
1 item“The Internal Revenue Service (“IRS”) recently released Notice 2026-49 (the “Notice”), proposing sample forms and a standardized five-step process for rollovers to eligible retirement plans under Section 324 of the SECURE 2.0 Act.” MORE >>
Source: JD Supra
Retirement Plans
6 items“A growing number of middle-class workers expect to rely more heavily on 401(k)s and similar retirement plans as government- and employer-funded pensions fade away, according to a new report. Many expect self-funded savings to be their primary source of retirement income, with 42% citing the category overall, the Transamerica Institute survey found. That includes 31% who expect to rely on 401(k)s, 403(b)s and IRAs and 11% who point to other savings and investments.” MORE >>
Source: Employee Benefit News
“Target-Date Fund IQ gives retirement plan advisors a plan-specific framework for comparing target-date strategies, including those with embedded guaranteed income Nestimate and PGIM announced today that Nestimate’s Target-Date Fund IQ Analysis tool is now available through PGIM, giving retirement plan advisors access to an objective framework for evaluating target-date funds and lifetime income solutions. Through this collaboration, retirement plan advisors can reach out to their PGIM Defined Contribution (DC) Solutions representative to run Nestimate’s reporting, enabling them to work directly with their plan sponsor clients to evaluate retirement plan investment menus, including target-dat” MORE >>
Source: 401(k) Specialist
“While the cost of living has become a hot political topic in 2026, it’s also cutting into the confidence many Americans have in their retirement plans. According to a survey released Wednesday by the National Institute on Retirement Security, some 80% of Americans say they feel the country currently faces a retirement crisis—a number that’s jumped from 67% responding in the same way in 2020 surveys. “Housing, healthcare, debt and other expenses are competing with the need to save for retirement.” MORE >>
Source: 401(k) Specialist
“How to handle unclaimed funds when benefits are issued is a common issue for pension plans. In general, fiduciaries must establish and follow a prudent, documented process to protect a person’s money and meet their fiduciary requirement when dealing with unclaimed funds.” MORE >>
Source: Milliman
“As companies across every major sector of the economy continue to announce significant reductions in force — with layoffhedge.com and other layoff trackers reporting an average of nearly 3,000 workers affected per day in 2026 — plan sponsors and benefits counsel face renewed pressure to navigate the complex intersection of workforce downsizing and employee benefit plan compliance. Layoffs or reductions in force (RIFs) can trigger more than just severance and Worker Adjustment and Retraining Act (WARN) obligations — RIFs may also create unexpected retirement plan liability. If a RIF causes a “partial termination” of a company’s 401(k) or other qualified plan, the employer may be required to t” MORE >>
Source: Troutman Pepper Locke
“On August 10, 2026, the Pension Benefit Guaranty Corporation (PBGC) announced the launch of its Coverage Assessment Program. This new compliance resource allows private-sector employers to request a determination of whether a tax-qualified defined benefit (DB) plan is covered by PBGC under Title IV of ERISA.” MORE >>
Source: Milliman
Litigation
2 items“An MVA can raise fiduciary concerns, but it is not inherently a fiduciary violation. The key question is whether plan fiduciaries followed a prudent process in deciding to liquidate before satisfying the 12-month put, considering the MVA, reasonable alternatives, and participant impact. Stable value investments are generally designed to permit normal participant-initiated withdrawals at contract (book) value. Plan-level withdrawals or other plan sponsor-initiated events, however, may be subject to contractual exit restrictions, including when the plan sponsor: For many pooled stable value funds, a 12-month put allows the plan to receive contract value after giving the required notice and wai” MORE >>
Source: American Retirement Association
“The appellate court’s affirmation of the attorney’s fees motion was referenced in a footnote of the original decision. There it was noted that the district court awarded attorney’s fees to Altria and the plan under 29 U.S.C. § 1132(g)(1) in the amount of $76,131. It also awarded Fidelity $46,820 in fees following a stipulation by the parties. Now, Kelly didn’t challenge the amount of fees awarded. Rather, according to Judge Quattlebaum, he claimed the district court abused its discretion by awarding fees at all, claiming the district court misapplied the test from Quesinberry v. Life Insurance Co. of North America, 987 F.2d 1017 (4th Cir.1993) (en banc).” MORE >>
Source: American Retirement Association
General Benefits
1 item“The Government Accountability Office found that most of the 31 service providers it reviewed did not did follow ‘leading privacy practices.’” MORE >>
Source: PLANSPONSOR
Press Releases
1 item[General Benefits]
ASPPA Launches New Credential for MEP, PEP Pros“The American Society of Pension Professionals & Actuaries (ASPPA) today announced the launch of the Qualified Pooled Plan Professional, or QP3™, a new credential designed to help retirement plan professionals understand how pooled plans work in practice. “ASPPA’s new credential is for professionals who want job-ready expertise in pooled plans,” said ASPPA Executive Director Kelsey Mayo. “It’s useful not only for pooled plan providers, but also for TPAs, advisors, recordkeepers, compliance teams and others who support employers working with MEPs and PEPs.” Built around real-world issues, ASPPA said in a press release today that the credential helps professionals evaluate pooled plan structure” MORE >>
Source: 401(k) Specialist