Market & Legal Update

MARKET: Despite lingering inflation and higher interest rates for much of 2024, the S&P 500 posted back-to-back years of 20% plus gains for the first time since the late 1990s. LEGAL: Learn about important 2025 compliance deadlines and action items for employer-sponsored retirement plans.

MARKET: Despite volatility, election month leaves the market at record highs and the Federal Reserve announced another rate cut. LEGAL: Learn about 2025 super catch-up contributions and 2026 Roth catch-up contributions for high wage earners.

MARKET: Equities continued the trend of October being the weakest month during an election year and the Mag 7 has begun to loosen their grip on the stock market. LEGAL: Learn how the overturning of the Chevron doctrine may impact ERISA retirement plans.

MARKET: The Fed announced the first rate cut since 2020 and they continue to see inflation moving in the right direction towards 2% target. LEGAL: The IRS issued interim guidance on Qualified Student Loan Payments (QSLPs) and the steps employers can take to implement a QSLP match feature in their plan.

MARKET: The Fed provided a clear signal that it is prepared to start cutting rates during its annual Jackson Hole meeting. LEGAL: The IRS released final and proposed regulations providing guidance on changes to the Required Minimum Distribution rules that were put into law by the SECURE Act and SECURE 2.0 Act.

MARKET: U.S. stocks experienced a rollercoaster of a month in July following an encouraging inflation reading, a tech sector selloff, cooling labor market data and another FOMC meeting. LEGAL: Learn about the status of pending litigation regarding 401(k) plan forfeitures that have been brought up over the past year.

MARKET: Higher market gains in June were fueled by continued strength in the job market, inflation slowly progressing lower, possible Fed easing in 2024 and artificial intelligence. LEGAL: The U.S. Department of Labor published a new fiduciary investment advice rule, the Retirement Security Rule, under ERISA.

MARKET: Following a rough month of April for the markets, the U.S. stock market set aside worries about interest rates remaining high in part because stocks related to artificial-intelligence technology continue to climb. LEGAL: Earlier this year, the agencies released new Form 5500 with instructions which are applicable for filings applicable to plan years beginning on and after January 1, 2023.

MARKET: After a strong first quarter, April was a setback for the financial markets as geopolitical concerns begin to rise. LEGAL: Penalty-free withdrawal changes under the SECURE 2.0 Act for retirement plan participants who elect to receive distributions before age 59½.

MARKET: U.S. stocks continued a 5-month winning streak in March despite elevated interest rates and inflation. The Fed held rates steady once again in their March meeting. LEGAL: Understanding your retirement plan’s beneficiary designation provisions, the applicable law and implementing best practices and procedures can help your company avoid getting ensnared in messy litigation over death benefits.

MARKET: The timing and extent of anticipated rate cuts in 2024 have yet to materialize, but markets still rallied as the Dow, S&P 500 and NASDAQ all rose for the month. LEGAL: The SECURE 2.0 Act introduces Pension-Linked Emergency Savings Accounts' ("PLESA") and how it represents a significant stride towards enhancing financial security for American workers.

MARKET: After a whopping seven rate hikes in 2022 followed by another four hikes in 2023, the widely held expectation is that the Fed would begin cutting rates in 2024. LEGAL: Read the highlights of IRS Notice 2024-2 for guidance on specific revisions of this new law which is now in effect as of January 2024.

MARKET: U.S. markets closed out 2023 with a Santa Claus Rally and the likelihood for a recession has been reduced for 2024. LEGAL: Launch 2024 by marking your calendars with compliance requirements and access tools to help you stay up to speed with retirement plan deadlines.

MARKET: U.S. stocks experienced their best month in more than a year as inflation measures continue to cool. The Fed held rates steady, while economic output exceeded expectations. LEGAL: In our legal update, the Department of Treasury and IRS issued proposed regulations providing guidance regarding the “long-term part-time employee” rules that the SECURE Act of 2019 first added to the Internal Revenue Code.

MARKET: Stocks investors received no reprieve from September’s declines as equity markets declined again in October. Interest rates moved higher in October to 4.9% as measured by the 10-year Treasury Bond. LEGAL: In our legal update, we share the various types of auto-enrollment designs and considerations for employers so they can help ensure employees have sufficient resources available to support themselves in retirement.

MARKET: Following August's trend, equity markets continued declining in September as the Fed voted to keep interest rates unchanged at their highest levels in 22 years and advised more hikes could be on the horizon. LEGAL: The IRS has provided guidelines for defined benefit plan sponsors to use the newly approved IRS document when submitting their plan documents by the March 31, 2025 deadline.

MARKET: Equity markets declined overall in August despite trading upwards the last few trading days of the month as the market continues to weigh in on the path of interest rates by the Fed. LEGAL: Retirement plan sponsors are getting some relief and guidance from the recent IRS announcement that they have an additional two years to implement the mandatory Roth catch-up provision outlined in SECURE 2.0.

MARKET: July was an encouraging start to the second half of 2023, as there were positive results in both markets and the economy. Inflation continued to cool while economic output exceeded expectations, although the Fed continued their hawkish path by restarting rate hikes. LEGAL: The IRS has issued two pieces of guidance on two provisions of SECURE 2.0 relating to expanded plan correction and required minimum distributions.

MARKET: June’s positive economic developments were somewhat of a surprise given the dire forecasts of many economists earlier in the year, as many predicted a recession later in 2023 given the Fed’s efforts to cool the economy over the last year. LEGAL: While the SECURE 2.0 Act of 2022 provided employer retirement plan sponsors with many new potential design features, certain provisions related to Roth (after-tax) treatment have left employers and providers confused. This article will address the following three of those changes.

MARKET: May was a relatively positive month regarding economic data, and quite the mixed bag when it came to market returns as investors were focused on the debt ceiling and inflation. LEGAL: We review provisions of the SECURE 2.0 Act that apply to retirement plans that are not subject to ERISA, including governmental plans (inclusive of tribal governmental plans) and church plans who have not elected to be covered under ERISA.

MARKET: April was another positive month for the markets, as the consumer continued to hold up well despite relatively high inflation and rising interest rates. Consumer prices eased to 4.2% in March, slower than the 5.1% rise in February, but still well above the Fed’s target rate of 2%. LEGAL: This month’s legal update is focused on the expanded plan eligibility rules for long-term part-time employees under the SECURE 2.. Act of 2022.

MARKET: March was an extremely eventful month for markets following two public addresses from the Federal Reserve, a modest inflation report, and a frightening but contained to-date banking crisis, all of which are intricately connected events. LEGAL: Encouraging Roth contributions has proven to be a favorite legislative strategy largely because Roth contributions are a short-term revenue raiser when compared with traditional tax-deferred contributions.

MARKET: Following a difficult 2022 and a promising recovery in January 2023, stocks finished lower for the month, with all three major U.S. indices closing out a volatile February in the red. LEGAL: This month’s update is focused on the provision which expands the ability to self-correct retirement plan failures under the IRS’ correction program.

MARKET: While the economy is facing numerous headwinds in 2023 following a rough 2022, markets have remained somewhat resilient with a solid fourth quarter and a good start to the year in January. LEGAL: Get up to speed with the SECURE 2.0 provisions that went into effect as of the Enactment Date or in 2023.