PLANSPONSOR Weekend Newsdash
Week ending March 10th, 2017
Happy Friday, readers! This week Merrill Lynch again grabbed headlines for being an early mover on fiduciary rule reforms. The firm, which in 2016 was among the first to announce it would halt sales of mutual funds within its commission-based IRA platform, tells PLANADVISER it will continue to move in that direction—with some important tweaks to its strategy now that the Trump administration has delayed the new fiduciary paradigm. Get the full story, as well as our latest coverage of industry litigation and regulation, below. 
Editor's choice
Dodd-Frank Repeal Battle Parallels Fiduciary Fight
Federal agencies and initiatives carry significant momentum and must be redirected carefully, but forcefully, by any incoming president. Read more >
DOL Fiduciary Defenses Prevail In District Courts, But Does It Matter?
A series of recent district court decisions show strong deference for the DOL’s right to promulgate a more aggressive fiduciary standard—how relevant the decisions will remain under President Trump is still anyone’s guess. Read more >
DOL Fiduciary Workshops Support Client Compliance
Speakers from the DOL will discuss basic fiduciary do’s and don’ts associated with operating an employer-sponsored retirement plan. Read more >
Joint Congressional Resolution Targets Public DC Plans for Private Sector
GOP lawmakers in the House and Senate suggests it is a federal government overreach for DOL to encourage or require states to offer workplace retirement savings programs for private sector workers. Read more >
Connecticut Aims To Strengthen 403(b) Provider Reporting
Service providers to tax-qualified 403(b) plans already have certain federally mandated conflict of interest reporting requirements, but the Connecticut State Legislature may also step up and play a role. Read more >
Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

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.

Nearly Three-Quarters of Boomers Want to Delay Retirement

More than three in 10 have no retirement budget.

Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?

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.

Many Americans Would Forego Social Security Payments for Student Loan Debt Forgiveness

The Student Security Act of 2017​ would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year.

DISRUPTION: Insider Service and Strategy Talk With PGIM
In an exclusive interview with PLANADVISER, PGIM Head of Institutional Defined Contribution Josh Cohen offers some guidance to advisers speaking with plan sponsors about litigation, fiduciary risk and progressive plan design.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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