Happy Friday PLANADVISER readers! This week’s editor’s choice kicks off with some lighter fare—a look at star quarterback Payton Manning’s own imminent retirement and the health of NFL players' pension plan. The plan, like many sponsored by private employers in the U.S., is struggling with a low funded status and other challenges. The week gone by also had plenty of news related to the DOL's forthcoming fiduciary rule and the wider regulatory and market environment marked by stubborn bouts of volatility.
IRIC finds plan sponsors that have not recently revisited an in-plan income solution will be more inclined to do so in 2016 “since the landscape is very fluid and new solutions appear often.”
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Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others are less sure that a decisive SCOTUS decision could be forthcoming, instead expecting the SEC to take the lead; still others admit they have little idea how the regulatory picture will shake out, recommending patience and ongoing compliance.
The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.
Chuck Coldwell, vice president - national director, Consulting and BOLI Services at Pentegra, believes as an industry, we still have not reached the goal of getting the majority of participants in a good place for retirement—even with auto enroll and escalate.