The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
September 1, 2026
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10 items · ~4 min read
Top of the Brief
How Plan Sponsors Can Close the Recordkeeper Oversight Gap (Before It Gets Wider)“by Christopher Carosa, CTFA | Sep 1, 2026 | Basic Members, Due Diligence | 0 comments Viewing this content requires a Basic (Free) Membership or better. You are not currently logged in.”
In this issue
Regulatory Action and Guidance (1) · Retirement Plans (3) · Litigation (2) · General Benefits (4)
Regulatory Action and Guidance
1 item“The proposed regulations address elections to open initial Trump Accounts, rules governing employee pre-tax contributions through an employer’s Section 125 plan, employer contributions, nondiscrimination requirements, eligible investments and trustee procedures. An election to open a Trump Account is made using a Form 4547. Individuals can fill out and submit the form in the Trump Accounts app (see TrumpAccounts.gov), when they file their taxes, or through the secure IRS website called Individual Online Accounts, or IOLA. The list of individuals who are authorized to make the account-opening election is the child’s legal guardian, parent, adult sibling or grandparent, in that order. The indi” MORE >>
Source: National Law Review
Retirement Plans
3 items“As an early adopter in the index fund market, the idea of offering broad market exposure of the S&P 500 Index in an easy-to-use, low-cost investment was initially met with skepticism. But it has certainly proven its value over the years, especially as a feature in retirement plans. “Few innovations have done more to expand access and help investors build wealth over time.” Vanguard’s trailblazing fund now holds more than $1.7 trillion in total assets across all share classes. More than just massive holdings, two other numbers are critical to the fund’s long-term success: As of Aug. 28, Vanguard 500 Index Fund Investor Shares had returned 13.40% year to date and carried an expense ratio of 0.” MORE >>
Source: 401(k) Specialist
“Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.” MORE >>
Source: PLANSPONSOR
“Seyfarth Synopsis: The IRS has issued further guidance on Trump Accounts addressing employer contributions and eligible investments in which Trump Account funds may be invested. We discuss the new guidance in our Legal Update here. As discussed in our prior blog posts, including “Trump Accounts: The New Kid on the IRA Block” and “No ERISA Strings Attached: The DOL Weighs In on Employer and Employee Contributions to Trump Accounts”, regulators have been slowly rolling out guidance since the announcement of Trump Accounts.” MORE >>
Source: Seyfarth (Beneficially Yours)
Litigation
2 items“In Liu v. Kaiser Permanente Employees Pension Plan for the Permanente Medical Group, Inc., No. 24-4303, — F.4th —-, 2026 WL 2562029 (9th Cir. Aug. 31, 2026) (Before: Paez, Bea, and Forrest, Circuit Judges), the Ninth Circuit reversed the district court’s dismissal for failure to state a claim of Plaintiff’s action under ERISA challenging the denial of her claim for pension benefits due to her deceased sister. Plaintiff’s sister, the decedent, was an employee of The Permanente Medical Group and participated in the Kaiser Permanente Employees Pension Plan, a pension plan governed by ERISA. The decedent was diagnosed with cancer and took a medical leave of absence. While hospitalized and requir” MORE >>
Source: Roberts Disability Law
“One recent development is litigation challenging allegedly “financially dominated” health plan options—options that plaintiffs contend cost participants more than alternatives without providing commensurate financial or medical value. In Barbich v. Northwestern University, No. 25-cv-6849, 2026 WL 1552506 (N.D. Ill. Apr. 2, 2026), participants in Northwestern University’s employee welfare plan alleged that Northwestern breached ERISA fiduciary duties by offering a low-deductible, higher-premium PPO option that was allegedly financially dominated by a higher-deductible, lower-premium PPO option. Id. at *1.” MORE >>
Source: Gibson Dunn
General Benefits
4 items“The DOL’s proposal identifies six factors for fiduciaries to consider: performance, fees, liquidity, valuation, performance benchmarks and complexity. But from the perspective of an ordinary 401(k) participant, liquidity deserves considerably more attention. Fred makes an especially important distinction: there are really two liquidity questions. Can the participant get his or her money out? And: Can the plan get its money out? Those are not necessarily the same thing.” MORE >>
Source: The Commonsense 401(k) Project
“by Christopher Carosa, CTFA | Sep 1, 2026 | Basic Members, Due Diligence | 0 comments Viewing this content requires a Basic (Free) Membership or better. You are not currently logged in.” MORE >>
Source: Fiduciary News
[Regulatory Action and Guidance]
Walberg, Mackenzie Seek Audit of Additional DOL Agencies Following Inspector General FindingsHouse Republicans asked the DOL's Inspector General to audit additional agencies for improper information sharing with trial lawyers and advocacy groups, following a prior audit that found deficiencies in controls and oversight. MORE >>
Source: House Education & Workforce Committee
“The Total Portfolio Approach (TPA) represents a meaningful evolution — shifting emphasis from static asset buckets to a more flexible, opportunity-driven framework seeking to align capital allocation with total portfolio outcomes. We explore the key distinctions between SAA and TPA, highlighting the governance, accountability, and execution trade-offs organizations must consider. While TPA offers potential for greater agility, clearer decision-making, and more efficient capital use, its success depends on the strength of governance, culture, and investment capabilities.” MORE >>
Source: NCPERS