Monthly Newsletter: April 2026

Apr 15, 2026

Study: Confidence Higher Among Target Date Fund Investors

A new survey by Voya Investment Management finds that participants who invest in target date funds (TDFs) feel significantly more confident about their retirement savings than their peers who are not invested in TDFs. When asked whether investing in a TDF makes them feel more confident about making good investment decisions, 95% of employed TDF investors said yes, including 39% who strongly agreed. Among those who don’t invest in TDFs, total agreement dropped to 75%, with only 14% strongly agreeing.

The survey found that 71% of employed TDF investors said they feel confident that they’ll reach their retirement goals, compared to 58% of non-TDF investors. Employed TDF investors also report less stress — more than 90% said that investing in a TDF helps reduce the stress of retirement planning. Among those who don’t use TDFs, 73% said the same.

Among participants with access to a TDF, 83% of employees and 86% of retirees reported that they chose to invest in it. The top reasons offered for their TDF investment decision include: professional management, ease of use, built-in diversification, and ongoing rebalancing.

Lawmakers Move to Ease Form 5500 Filing Burdens

Rep. Glenn Grothman (R-Wisc.) and Rep. Donald Norcross (D-N.J.) have introduced legislation aimed at easing Form 5500 filing burdens. The bill, H.R. 7362, known as the Form 5500 Filing Simplification Act, was introduced on February 4, 2026.

Among other changes, if passed, the bill would extend the deadline for filing the form by nearly three months. For calendar-year plans, the deadline would shift from July 31 to October 15.

The bill has been referred to the House Committee on Education & the Workforce, as well as the Ways and Means Committee, for consideration.

DOL Backs Employers in Forfeiture Litigation

The U.S. Department of Labor (DOL) is urging a federal appeals court to uphold the dismissal of a lawsuit claiming that an employer misused retirement plan forfeitures.

On January 30, 2026, the DOL filed an amicus brief with the U.S. Court of Appeals for the Third Circuit in Barragan v. Honeywell Int’l Inc., asking the court to affirm a lower court’s decision in favor of the employer. The case centers on whether the employer plan fiduciary breached its duties by not using forfeited employer contributions to pay plan expenses.

In a press release, the DOL noted that the amicus brief reflects the Secretary of Labor’s view that ERISA is designed to set standards of conduct for fiduciaries, and that using forfeited contributions in this way does not necessarily violate the law.

In its filing, the DOL argues that the district court correctly concluded that the plan sponsor did not breach its fiduciary duties of prudence and loyalty. The plaintiff, the DOL says, provided only a bare allegation that forfeitures were not used to pay plan expenses, even though the plan gave fiduciaries discretion over how to allocate those funds.

The brief also notes there is no rule barring plan fiduciaries from allocating forfeited employer contributions to reduce future employer contributions, versus having to use those funds to offset administrative costs.

Faces of IMA Retirement

The Stories That Shape Us

We are excited to introduce Don Delande. Don joined us in 2025 and is a Senior Retirement Plan Manager, supporting plan documentation, fiduciary file maintenance, and audit readiness, while providing insights on plan health, benchmarking, and participant behavior. Let’s get to know Don a little better by taking a peek behind the IMA Retirement curtain!

How long have you been at IMA? 7 months
What is a fun fact about you that most people do not know? I have run two marathons and hope to accomplish one more soon.
Do you have any interesting hobbies or talents? Running, rafting, coaching, golfing.
Who inspires you the most and why? My mother! She’s the strongest, most determined person I know!
What is the best piece of advice you have ever received? Keep learning and pushing yourself, no matter where you are in your career.
What is one thing you cannot live without? My family!
What is your favorite way to relax or unwind? Going on a long hike.
What is one goal you hope to achieve in the next year? Continued growth for IMA Retirement and our clients.
If you could live anywhere in the world, where would it be and why? Hawaii, for the beaches and adventures.
What is one thing on your bucket list? Skydiving.
What is the most adventurous thing you have ever done? Class 5 rivers on the Arkansas in Colorado and the New River in West Virginia.