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Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR

January 8th, 2019

Smart Design

Sriking the right balance between client service and profitability is more of an art form than a science, but it is an important exercise for every retirement plan advisory practice to utilize. Blue Prairie Group LLC took a deep look into this issue last year, tracking how many hours the team spent working on each client’s plan, who did what, as well as rating the difficulty of working with each client. Read more >

The SEC on Rollovers

The SEC says that an RIA is a fiduciary with duties of loyalty and care. That applies to all advice, including recommendations to take money out of a plan and roll it into an IRA with the adviser. To satisfy the duty of loyalty, the RIA must disclose conflicts of interest, including conflicts resulting from rollover recommendations. Read more >

‘Other Circumstances’ Added As Allowable Reason for Applying for Determination Letter

A new Revenue Procedure makes a change to Revenue Procedure 2018–4 Section 8.02 to add new section 3, “Other Circumstances,” to provide a new category for which determination letters can be requested. Read more >

Compensation Definition and Plan Docs at Heart of ConAgra ERISA Lawsuit

The complaint stems from defendants’ alleged refusal to pay post-termination benefits to the plaintiff—and a sizable similarly situated class of would-be beneficiaries—pursuant to terms and definitions in plan documents. Read more >

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Complying With the Custody Rule and the New Custody Proposal

Puerto Rico Treasury Updates 2019 Contribution/Benefit Limits

The Puerto Rico Internal Revenue Code of 2011 requires that, before the beginning of each taxable year, the PR Treasury provide notice of the applicable limits under Section 401(a) of the U.S. Internal Revenue Code of 1986, which are incorporated by reference into the Puerto Rico Code limits. Read more >

Few Employers Effectively Timing Employees’ Retirement

While 81% of employers say that managing the timing of their employees’ retirement is an important business issue, only 53% say they have a good understanding of when their employees will retire. Read more >

This Plan Sponsor Is All-In on ESG TDFs

Many plan sponsors fear being a trendsetter, but United World College-USA is proud of using ESG investing themes in its custom target-date QDIA, built with TIAA and LongView Asset Management, and offering a guaranteed retirement income solution. Read more >

Market Mirror

Yesterday, the Dow gained 98.19 points (0.42%) to finish at 23,531.35, the NASDAQ closed 84.61 points (1.26%) higher at 6,823.47, and the S&P 500 was up 17.75 points (0.70%) at 2,549.69. The Russell 2000 increased 24.63 points (1.78%) to 1,405.37, and the Wilshire 5000 climbed 250.60 points (0.96%) to 26,331.39. The price of the 10-year Treasury note decreased 7/32, bringing its yield up to 2.694%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 2.989%.

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