PLANADVISER Weekend Newsdash
Week ending February 17th, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! We learned this week that the retirement plan advisory industry will have to wait even longer to see a Department of Labor Secretary first questioned and then either confirmed or denied by the U.S. Senate. You’ll likely have heard by now that President Trump’s first pick couldn’t get enough support to actually win the job—even from a Senate controlled by Republican allies—leading to a last-minute withdrawal for the nominee just before his confirmation hearings were set to start. Find below our initial coverage of the new nominee, Alex Acosta, along with the week’s other top news. 
Editor's choice
President Names DOL Nominee With Deeper Labor Ties
Days after the surprise withdrawal of Andrew Puzder as President Trump’s Labor Secretary nominee, the White House is now confirming their new pick for the job, former member of the National Labor Relations Board R. Alexander Acosta. Read more >
Fiduciary RIAs and Investment Brokers Have Opposing Views
A new Cogent Reports analysis explores the strong difference of opinion about the DOL fiduciary rule visible across different advisory market segments. Read more >
Lawmakers Move to Block Final Rule on State-Run Retirement Plans
Their concerns are that small businesses will be discouraged from offering retirement plans to employees, and that employees put into state-run plans will not have the protections of ERISA and will have limited control over their retirement savings. Read more >
Financial Wellness Should Focus on Building Confidence
Confidence likely has more bearing than actual financial acumen on a worker’s ability to improve his or her financial situation, Mercer concludes from survey findings. Read more >
MOST POPULAR STORIES
IRS Life Expectancy Tables Updated for Retirees

The actuarial update is important for plan sponsor clients to note, but the effect to regular business is likely limited, as the individuals most affected are likely no longer employed by the plan sponsor.

Meet Dave Barry, Professional Humorist and Pulitzer Prize Winner

Among his accomplishments, Barry won the Pulitzer Prize for commentary, although he misplaced it for several years, which is why his wife now keeps it in a secure location that he does not know about.

The Most ‘Outrageous’ ERISA Complaints Yet Filed?

One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent weeks are the ‘most outrageous’ the industry has ever seen.

Keeping Up with the Securing a Strong Retirement Act

Because different provisions are included in the House and Senate versions of the ambitious retirement reform legislation, a reconciliation process is likely in store.

Booz Allen Hamilton, Others Face Passive TDF Performance Lawsuits

Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.

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