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
Many Retirees Wish They Had Delayed Taking Social Security Benefits

MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.

SECURE Act's House Passage Brings Test of Congressional Mediators

With the passage of the SECURE Act by the House of Representatives, experts tell PLANADVISER they are optimistic that agreement will be reached with the Senate during this Congress, but the many supporters of retirement reform will have to wait and see how compromise might be reached.

Some Expect Senate Action Sooner Than Later on SECURE Act

One retirement industry executive says she believes the Senate could act quite quickly in taking up the SECURE Act, which just passed the House of Representatives with a practically unanimous yea vote.

Another Bill Proposed as Senate Committee Hearing Brings Calls for Retirement Action

Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.

J.P. Morgan Agrees to Pay $75 Million to Settle ERISA Lawsuit
The consolidated litigation alleges the firm invested its stable value funds in risky assets, causing losses to retirement plan participants.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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