Worldwide: Retirement, Superannuation & Pensions

The One Big Beautiful Bill Act introduced Trump Accounts, a novel tax-advantaged savings vehicle for children under 18, with employer contribution provisions beginning in 2026. The Department of Labor's Technical Release 2026-02 addresses critical questions about whether these accounts and employer contribution programs fall under ERISA's regulatory framework. Employers must navigate specific conditions and distinctions between accounts benefiting employees versus their dependents to avoid unintended ERISA

Section 334 of SECURE 2.0 introduces qualified long-term care distributions from defined contribution plans without the 10% early withdrawal penalty. IRS Notice 2026-33 clarifies the requirements, reporting obligations, and implementation steps for plan sponsors and insurance issuers. Understanding these new rules is essential for employers considering this distribution option and participants seeking to use retirement funds for long-term care insurance premiums.

One year ago, the U.S. Supreme Court issued a decision in Cunningham v. Cornell University that addressed the bar for pleading a prohibited transaction claim under the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq. (“ERISA”). Although Cunningham focused on ERISA pleading, the case is also notable because the Court expressly reminded district courts that they “can use existing tools at their disposal to screen out meritless claims before discovery.”

Recent federal action has opened the door for defined contribution plans — including 401(k)s — to offer alternative investments such as private equity.

July 4, 2026, is not just the 250th anniversary of American independence. It is also the first day contributions can begin flowing into “Trump accounts,” a new category of child investment...

Congress is advancing legislation that could fundamentally reshape private-sector labor relations by imposing strict timelines on collective bargaining and introducing binding arbitration for initial union contracts. Meanwhile, the National Labor Relations Board moves closer to a Republican majority that may reverse recent pro-union precedents.

The Supreme Court's decision in Cunningham v. Cornell established that ERISA plaintiffs need only allege prohibited transaction elements without addressing potential exemptions, raising concerns about meritless litigation.

ERISA attorney Charles Field provides a comprehensive breakdown of 401(k) retirement plans, covering everything from annual disclosure statements and investment options to fee structures and fund performance evaluation. Understanding how your 401(k) actually works is crucial, as it will likely become the largest asset you ever own, yet most participants remain largely uninformed about their plan's mechanics.

The Supreme Court unanimously ruled that actuarial assumptions used to calculate an employer's withdrawal liability from an underfunded multiemployer pension plan can be selected after the employer's withdrawal date, provided they are based on information available as of that date.