Retirement Plan News

On March 31, 2026, the United States District Court for the Central District of California, in Bugielski et al. v. AT&T et al., denied defendants’ (fiduciaries of the AT&T Retirement Savings Plan) motion for summary judgment with respect to (among other things) the reasonableness of the compensation paid to Financial Engines (now Edelman Financial Engines) and (indirectly) to Fidelity (the plan’s recordkeeper). A critical issue in the case was whether the plan fiduciaries adequately considered those indirect FE-to-Fidelity fees. And in this note, we focus on that issue.

The Pension Risk Transfer market continues to evolve, supported by active insurer participation, increased industry awareness of de-risking strategies and supportive economic environments. The combination of this evolution and favorable conditions persist, the sooner a plan sponsor enters the marketplace, the greater the opportunity to leverage attractive prices and interest rate dynamics.

Though they can be effective, traditional 401(k) plans have significantly lower contribution caps compared to alternative plans, especially for S Corp owners and other high earners.  

Strong stock markets in May drove continued improvement in pension finances. Both model plans we track¹ gained ground last month: Plan A improved more than 2% in May, ending the month up 8% for the year, while the more conservative Plan B gained 1% last month and is up more than 2% through the first five months of 2026:

After completing my master’s degree in data science, I joined a company in London supporting derivatives traders. But after a few years, I wanted to return to Chicago, where I grew up. At that time, I discovered a contract role at October Three and had the opportunity to join the team on a new project. I would say working with interest crediting rate and funding data was a unique experience. It’s substantially different from derivative trading, but there were certain similarities that I could apply to the October Three project. 

A leading US-based manufacturer with over 70 years of history wanted to terminate its Defined Benefit pension plan. However, their existing provider relationship had become a source of frustration, marked by inconsistent guidance and growing internal friction.  

Pension finances lost ground in March due to declining stock markets, but higher interest rates softened the blow. Both model plans we track[1] lost 1% last month, and are now slightly underwater through the first quarter of 2026:

On January 27, 2026, the US Federal District Court for the Western District of North Carolina, in Peeler v. Bayada, rejected plaintiffs’ claims that defendant plan fiduciaries violated ERISA’s prudence and prohibited transaction rules, dismissing them based on plaintiffs' failure to show they suffered “a non-speculative financial loss” and thus did not have standing to sue.

What stands out most to me is the people. There’s a genuine sense that people care about you, both personally and professionally. You’re encouraged to ask questions, keep learning, and collaborate across the firm. Because October Three is still growing, there are also a lot of opportunities to take on new challenges and grow

On April 1, 2026, the Department of Labor published Technical Release 2026-01, “Application of ERISA Fiduciary Requirements and Preemption Provisions to Proxy Advisory Services.” We provide a brief note on DOL’s guidance.

Pension actuaries are certified professionals who use mathematics and financial theory to manage pension plans. Their responsibilities include risk management, pension compliance, calculating plan funding, and determining appropriate contributions. 

Did you leave a pension benefit with a prior employer? If you received a “Statement of Deferred Benefits,” you may have a Deferred Benefit Pension waiting for you at retirement.

When pension professionals hear “Cash Balance Plans,” it evokes memories from the last century, of an actuarial trick-turned hybrid pension design that was popular among employers looking to get away from traditional pension plans, and then fell out of favor as the shortcomings became apparent.

Pension finances lost ground in March due to declining stock markets, but higher interest rates softened the blow. Both model plans we track[1] lost 1% last month, and are now slightly underwater through the first quarter of 2026:

Though traditional 401(k) and 403(b) plans can be effective, their contribution limits often make them less attractive to high-income partners and executives, who are often searching for ways to save more and reduce corporate taxes. Cash Balance plans, on the other hand, offer an accelerated savings vehicle that allows for increased contributions and significant tax advantages. In this article, we explore how Cash Balance plans can support executive retention and reduce individual and corporate taxes in 2026.