The December 31, 2026 deadline is fast approaching for most non-governmental plan sponsors to amend their tax-qualified retirement plans to comply with changes made by the SECURE Act of 2019, the CARES Act, the Taxpayer Certainty and Disaster Relief Act of 2021, and the Secure 2.0 Act (the “Acts”).
Monday, July 27, 2026
№ 17Retirement Plans (7)·Health & Welfare (2)·Leave & Time Off (2)·Case Commentary (3)
The One Thing
Three items in this issue circle the same expanding litigation front: the DOL's amicus brief on pension risk transfer standards, a new target-date-fund suit against American Express, and the first wave of voluntary-benefits ERISA claims all rest on the same fiduciary-prudence theory that has carried 401(k) fee litigation for a decade, and is now reaching PRT deals, TDF menus, and supplemental coverage alike.
Retirement Plans (7)
The proposal adds to the current “wired at work” safe harbor issued in 2002 and does not replace existing disclosure rules. Plan administrators could continue using current delivery methods or elect to use the new safe harbor if finalized.
Recent analysis projects private capital could make up 6% of assets in defined contribution plans by the end of the decade, driven by gradual adoption through target-date funds, collective investment trusts and the DOL’s proposed safe harbor for fiduciaries.
New survey data shows the resurgence of green-zone plans, funded status trends and lessons for the future of multiemployer pensions.
Some ultrahigh net worth clients would be affected by a change to retirement plan contribution and distribution rules that's under consideration in Congress.
New NFP research finds 72% of workers are behind on retirement as rising costs, competing priorities, and financial stress make saving harder.
For once, retirement plan sponsors received a rare piece of regulatory news that doesn’t require antacids. The Department of Labor’s civil monetary penalties for 2026 are staying flat.
Health & Welfare (2)
When a level-funded stop-loss corridor, ICHRA contribution strategy and captive loss fund can be assessed against claims data, brokers become interpreters.
As a reminder, the deadline for submitting Patient-Centered Outcomes Research Institute (PCORI) fees is July 31. Employers that sponsor self-insured group health plans should use the most current revision of IRS Form 720, Quarterly Federal Excise Tax Return, to report and pay the fees.
Leave & Time Off (2)
The New York City Department of Consumer and Worker Protection (DCWP) has adopted final rules implementing the City’s February 2026 amendments to the Earned Safe and Sick Time Act, now referred to in the rules as the Protected Time Off Law (PTOL). The rules went into effect July 23, 2026.
Amendments to the New Jersey Family Leave Act (NJFLA) took effect on July 17, 2026, and the New Jersey Department of Labor and Workforce Development (NJDOL) issued new guidance with two sets of frequently asked questions (FAQs).
Case Commentary (3)
The Labor Department filed an amicus brief with a federal appellate court addressing the standards for offloading defined benefit plan liabilities through pension risk transfers. The filing gives sponsors a first official read on how DOL views the safest available annuity analysis in the current PRT litigation wave.
Former employees at American Express (Amex) have filed suit alleging that the credit card company maintained underperforming funds in its 401(k) plan, including target-date funds (TDFs).
That changed in late 2025, when four putative class actions were filed against large employers and their benefits consultants. The cases seek to apply now all-too-familiar retirement plan excessive fee theories to voluntary insurance products.