The Daily Brief for Benefits Professionals
BenefitsWire
Retirement Plans
October 23, 2026
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8 items · ~2 min read
Top of the Brief
Treasury, IRS update retirement plan correction program and establish correction program for individual retirement accounts“The Department of the Treasury and the Internal Revenue Service today issued two revenue procedures that update the correction program for employee retirement plans and create one for Individual Retirement Accounts.”
In this issue
Regulatory Action and Guidance (3) · Retirement Plans (2) · General Benefits (2) · Press Releases (1)
Regulatory Action and Guidance
3 items“The Department of the Treasury and the Internal Revenue Service today issued two revenue procedures that update the correction program for employee retirement plans and create one for Individual Retirement Accounts.” MORE >>
Source: PSCA
“Updated EPCRS rules take effect immediately, while a new SECURE 2.0-mandated IRA correction system aims to simplify error fixes and 60-day rollover waiver requests beginning in 2027 The Treasury Department and Internal Revenue Service today announced significant updates to the federal retirement plan correction program, expanding opportunities for plan sponsors to fix compliance errors while establishing a new correction system for Individual Retirement Accounts (IRAs).” MORE >>
Source: 401(k) Specialist
“On October 16, 2026, the Pension Benefit Guaranty Corporation (PBGC) issued a notice on proposed changes to expand the information it collects from multiemployer defined benefit (DB) plans that received special financial assistance (SFA). If finalized, the changes would require these plans to submit additional information and documentation with their Annual Statement of Compliance (ASOC). Comments are due by December 15, 2026.” MORE >>
Source: Milliman
Retirement Plans
2 items“New PensionBee and EBRI research finds 68% of automatic rollover IRAs lose value after one year, as fees threaten billions in stranded retirement savings That retirement account you neglected when you changed jobs could be losing money by the minute—or worse, as those left-behind accounts now collectively total as much as $43 billion.” MORE >>
Source: NCPERS
“By: Vincent Pellegrino, Abacus Intel How accurate participant data helps protect retirement security and ensure promised benefits are delivered. Participants move, change jobs, retire, and experience other life changes.” MORE >>
Source: NCPERS
General Benefits
2 items“For many construction businesses, benefits decisions are made the same way projects are managed: quickly, practically, and by the people who are closest to the work and the budget.” MORE >>
Source: JD Supra
“Investment risk is one of the largest and most critical issues for pension plan sponsors. To reduce that risk, pension plan sponsors should consider evaluating whether to implement a de-risking strategy that takes advantage of today’s relatively high interest rates. Over the past few years of high interest rates, some sponsors have successfully de-risked their pension plans.” MORE >>
Source: Segal
Press Releases
1 item[General Benefits]
Developing Product & Service Launches“PlanSource launches AI-powered benefits assistant; StepStone launches total portfolio allocator; Schwab Asset Management launches international bond ETF; and more.” MORE >>
Source: PLANSPONSOR