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UPS is not the first national employer to be accused of using outdated mortality tables and interest rate estimates in order to shortchange certain pension beneficiaries.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
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
ERISA Excessive Fee, Self-Dealing Suit Targets MEP

Pentegra Retirement Services and other plan fiduciaries are accused of failing to make sure fees are reasonable and acting in Pentegra’s, not plan participants', interest.

PANC 2020: Is It Time to Re-evaluate TDFs?

There are a variety of TDF solutions to meet participants needs, so when should a custom solution be considered, and how do advisers evaluate TDFs in an unprecedented year for the markets?

A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
AutoZone ERISA Suit Clears Motion to Dismiss

The district court declined to rule on the reasonableness of comparing actively managed funds to passively managed index funds on a motion to dismiss, clearing the way for discovery and potentially a full trial.

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