Happy Friday, PLANADVISER readers. It may be a new calendar year, but the professionals running retirement plans are still concerned with the same serious fiduciary risks that have long-troubled the 401(k) industry. They’re also facing renewed rounds of market volatility and a global economic picture that has many worried about what comes next. Whatever happens in 2016, stick with www.PLANADVISER.com for the latest news and breaking information.
One attorney specializing in ERISA litigation suggests the pace of lawsuits has increased fairly substantially in the last year, with signs of even more momentum in 2016. Even more concerning, he says, “there’s no plan design panacea that will prevent all possible challenges. It’s unpredictable who will get sued.”
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Recent equity price swings aside, Bob Doll predicts the economy will keep on muddling through in 2016; investors will have to jump some hurdles, but there is still room for optimism.
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The Congressional Budget Office has performed a new analysis of pre-retirement income replacement rates limited to workers’ “last five years of substantial earnings, adjusted for growth in prices.” Not as grim as other analyses, the report still shows many will have to save much more for a comfortable retirement.
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A short series of papers published by Vanguard shows knowledge of investing principles and fund features directly impacts the likelihood of investing success, even in product categories designed to put most decisionmaking in the hands of professionals.
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The agency explains that it is proposing a new rule 22e–4 under the Investment Company Act, which would require mutual funds to establish liquidity risk management programs.
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