PLANADVISER Weekend Newsdash
Week ending February 14th, 2020

Happy Friday, readers! Rarely does a week go by in the retirement plan advisory industry without seeing some significant regulatory, legislative or judicial development. True to form, this week brought a series of new lawsuits, as well as some important SECURE Act developments. Find all the important details below, and please consider sharing some of what you read with a client or colleague.

Editor's choice
Rockwell Automation Must Face ERISA Challenge
Allegations in the lawsuit, which has now cleared Rockwell’s dismissal motion, echo those filed in other lawsuits challenging the actuarial assumptions used by pension plan sponsors to value alternative forms of benefits other than the default. Read more >
Plaintiffs Challenge Antiquated Mortality Data in Latest ERISA Litigation Trend
The most recent national employer named in a mortality data lawsuit is the United Parcel Service (UPS), which is facing allegations very similar to those filed against MetLife, Pepsi, American Airlines and others. Read more >
SECURE Act Is No Lifetime Income Free-For-All
One analyst argues the landmark legislation’s lifetime income disclosure requirement may prove to be more influential than the annuity selection safe harbor. Read more >
UPS Named in Latest ERISA Fiduciary Breach Suit
UPS is not the first national employer to be accused of using outdated mortality tables and interest rate estimates in order to shortchange certain pension beneficiaries. Read more >
Voya Left With One Claim to Fight in Excessive Fee Suit
A federal judge found Voya is a fiduciary with respect to the 404a-5 participant fee disclosures it provides for the retirement plan in which the plaintiff participates. Read more >
MOST POPULAR STORIES
GKN Latest to Face Scrutiny Over GoalMaker Service

Though its GoalMaker portfolio management solution features prominently in the plaintiffs’ allegations, Prudential is not a party in the case.

Older 401(k) Participants Moving to TDFs More So Than Younger Participants

Participants in their 50s and 60s are using TDFs more than they have in the past, according to a new EBRI and ICI report.

New Benartzi Paper Dissects Narrow Framing Phenomenon

Would you accept a bet in which you win $200 if a coin lands on heads and lose $100 if it lands on tails? What if you could play twice?

Well-Funded HSAs Are a Retirement 'Superpower'

Having an HSA going into retirement is ‘incredibly powerful,’ experts say, because money is being saved and spent as efficiently as possible.

Retirement Industry People Moves

TIAA appoints chief brand and demand generation officer; BDO USA adds Lowery Asset Consulting; Morgan Stanley Investment Management bolsters sales leadership team; and more.

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