Vol.6, December 2025
December Benefits Rundown: Most-requested article + holiday greetings
December 21 is one of my favorite days of the year. It marks the start of winter and brings the shortest day in the northern hemisphere—a moment that can feel like we’re heading into the darkest stretch of the season. But in reality, it’s the point at which the days begin to lengthen. Even with the coldest weeks still ahead, we’re already moving toward more light.
That difference between how something feels and what’s actually happening is something we encounter often in benefits work. Plan design choices, participant behavior, and operational issues can create impressions that don’t always match the data. This is a good time of year to pause, take stock, and make sure our instincts align with what’s true.
Wishing you a healthy and restful holiday,
Mindy Zatto, FSA, EA, FCA, MAAA, MSPA
Founding Principal, SBA
This Month at SBA
A quick look at what’s new, noteworthy, or just plain useful from our team.
Honoring you with a gift that matters
SBA is continuing our annual tradition of making a holiday donation to Children’s Healthcare of Atlanta in honor of our wonderful clients. CHOA cares for more than half a million children and teens each year, including those who might not otherwise have access to care. We’re proud to support its mission and grateful for the relationships that made this year so meaningful.
6 things your pension administrator may not be doing
This practical, straight-talking guide from Robin Powell remains one of our most revisited articles. It outlines six areas—including population-specific support, data retention, and missing participant follow-up—where even seasoned DB administrators can fall short. If you're not sure what's really in scope for your outsourcer, this is a great place to start.
Ask the Principals
Our leadership team tackles tough questions from plan sponsors like you.
A: Plan governance refers to the structure, processes, and oversight plan sponsors put in place to ensure the retirement plan runs smoothly, complies with ERISA, and supports participant outcomes. That includes defining fiduciary roles, monitoring service providers, maintaining plan documentation, and managing operations and compliance with care and consistency.
Strong governance isn’t just about avoiding litigation; it’s about fulfilling fiduciary responsibilities and building a foundation for long-term plan health. It involves:
- Delegating oversight to a benefits committee or other co-fiduciaries
- Maintaining accurate, accessible records of plan documents, decisions, and deadlines
- Monitoring plan operations, expenses, participant communications, and vendor performance
- Staying prepared for regulatory or organizational changes
SBA helps plan sponsors assess where their governance practices stand today and build frameworks that support continuity, accountability, and better outcomes for plan participants.
Recommended Reading
Each month, the SBA team curates a selection of standout articles from across the employee benefits landscape. Here’s what caught our attention this month:
Do you convert PTO to deferrals? (ASPPA)
ERISA litigation ‘powerful disincentive’ against retirement plan innovation (National Association of Plan Advisors)
How and where can plan sponsors identify ‘gag clauses’ in contracts? (PLANSPONSOR)
House passes INVEST Act, sends it to Senate (401(k) Specialist)