It is hard to predict what the incoming federal administration will do with respect to PBM laws, but it seems that the states will continue to make this a focus.
Some of the biggest changes that employers must comply with will go into effect in 2025 – required auto-enrollment into new retirement plans, higher catch-up contribution limits, student loan payment matching and updates to long-term part-time worker retirement eligibility.
The IRS reminded account holders, and their beneficiaries, with employer-sponsored retirement plans and IRAs, of the upcoming Dec. 31 deadline — or face penalties.
The financial services firm failed to detect “hundreds” of instances when former employees misappropriated client funds because it did not have a reasonable system in place, said the Securities and Exchange Commission.