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OneDigital Unveils Small Business Retirement Solution

Vanguard and Retirement Clearinghouse to Offer Auto Portability Service to 401k Participants

Ascensus Unveils Retirement Website and Mobile Enhancements

Morgan Stanley, Empower to Expand Joint Plan Solutions

CAPTRUST Launches Alternative to PEPs and MEPs for Small Companies

401k Provider Human Interest Valued at $1B

Broadridge Fi360 Offers Enhanced Solution Ahead of DOL IRA Rollover Requirements

NAPA Opens Nominations for the 2021 Top Women Advisors Award

J.P. Morgan, AIG to Offer Annuity Tool for 401k Plans

Ubiquity Introduces Streamlined Recordkeeping Solo 401k

Latest Published Articles, Papers, and Research From Across the Web

IRS Updates Guidance Regarding Correction of Tax-Qualified Plan Errors Under EPCRS

Mistakes happen, even to tax-qualified plans and 403b plans that have implemented internal controls designed to reduce, if not eliminate, the likelihood of plan failures. To alleviate these disproportionate adverse tax consequences and encourage the correction of document and operational plan failures, the IRS maintains the Employee Plans Compliance Resolution System. The IRS periodically updates EPCRS, and its most recent version, Revenue Procedure 2021-30, issued on July 16, 2021, makes several significant changes that are reviewed here.

Source:, September 2021

Changes to Annual 5500 Reporting Requirements Proposed

The proposal package includes Form 5500 changes and the proposed rule. DOL also issued a fact sheet describes the package. The package would create a new direct filing entity called a Defined Contribution Group, make reporting equal for MEPs and PEPs, simplify how to count participants, add compliance questions, request additional information from multiemployer DB plans, and modify the filing requirements for single-employer DB plans.

Source:, September 2021

Vanguard Group Becomes the Second Domino to Fall in 401k Recordkeeper Detente on Plan Portability

Vanguard Group is introducing an oxymoron -- the portable 401k account -- with help from a firm that openly hopes to leverage Vanguard's deal to convince Fidelity Investments to open its 401k trillions to what MBAs call 'coopetition.' The $8-trillion Malvern, Pa., mega-manager announced Tuesday that it hired Retirement Clearinghouse to make it radically easier for a 40k plan participant to pack up their pension assets with their lunchbox and pocket calculator in a job switch.

Source:, September 2021

Insurance Agents Charged With Duping California Educators in 403b Plans

The owner of a 403b plan administration firm and another insurance agent allegedly convinced educators to roll retirement plan money into an IRA to invest in the owner's companies, which were in poor financial shape.

Source:, September 2021

New Bill Aims to Solve for the Retirement Plan Coverage Gap

The Portable Retirement and Investment Account Act of 2021 would create accounts for people soon after they are assigned a Social Security number that they could contribute to whenever they don't have access to an employer-sponsored plan.

Source:, September 2021

Northern Trust Accused of Fiduciary Breaches Related to AutoZone 401k

Northern Trust Corporation and Northern Trust, Inc., as investment fiduciaries, have been added as defendants in a lawsuit accusing AutoZone 401k plan fiduciaries of violating their ERISA fiduciary duties by permitting Prudential to steer an excess of assets towards its proprietary products via the GoalMaker asset-allocation solution.

Source:, September 2021

Courts Giving DOL More Time to Claim ERISA Violations

The Department of Labor is relying on a recent Supreme Court decision to effectively extend the amount of time the agency has to bring fiduciary breach claims. DOL investigations often last years, so it is common for DOL to run up against the statute of limitations under ERISA.

Source:, September 2021

District Court Dismisses Investment and Recordkeeping Claims Against 401k Plan Fiduciaries

A Kentucky federal district court ruled that a participant in CommonSpirit Health's 401k plan failed to state plausible claims for breach of fiduciary duty related to the fees and performance of actively managed target-date funds and recordkeeping fee. The court first rejected the plaintiff's claim that the plan fiduciaries should have offered a passively managed target-date suite instead of a more expensive and underperforming actively managed target-date suite because "actively managed funds and passively managed funds are not ideal comparators."

Source:, September 2021

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Our researchers look for what they think are some of the better resources available to assist you in administering your plan or helping your clients. We group these resources in our COLLECTED WISDOM™ topics to make it easy for you to locate the information you need. Each item in a category contains a summary and date of when it was placed in the group.

We also maintain some older material in these collections for perspective and context.

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