Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 15th, 2018

The Right Time for Big Retirement Ideas

Similar to the atmosphere in 2006 surrounding the Pension Protection Act, there is an increasing unity within the retirement plan industry advocacy, academic and lobbying community with respect to a wish list of regulatory and legislative reforms. These include expanding the potential for small businesses to join open multiple employer plans; encouraging the use of higher rates for auto-enrollment and deferral escalations within DC plans; and easing the fiduciary burden associated with “in-plan” lifetime income products. Read more >
DOL Fiduciary Rule Gets Another Successful Defense in Appeals Court
The appellee, Market Synergy Group, argued unsuccessfully that its representatives would never be able to make the Best Interest Contract Exemption, a key mechanism underlying the new DOL fiduciary rule, workable. Read more >
The Duty of Loyalty
It is not surprising that in almost every civil action alleging a breach of fiduciary duty under the Employee Retirement Income Security Act, one of the alleged breaches will be a breach of the duty of loyalty to participants and beneficiaries. Not only does the language of the duty of loyalty appear specifically in Title I of ERISA, but courts have consistently emphasized the importance of this particular fiduciary duty. Read more >
SunTrust Agrees to Settle Stock Drop Suit for $4.75 Million
The bank also agreed to continue funding matching contributions to its 401(k) plan in the form of cash or cash equivalents for a period of time. Read more >
Stakeholders in DC Plan Industry Must Come Together for Plan Success
Despite the tremendous progress of the last decade, there remain some “surprisingly different perspectives” among plan sponsors, recordkeepers, and individual participants when it comes to priorities and best practices, according to a new Cerulli report. Read more >
Wait, SECURE 2.0 Might Not Pass?
Asset Managers Scramble to Offer In-Demand Investment Vehicles
401(k) Robo-Adviser Blooom Shuts Services, Sells Tech to Morgan Stanley
Fitch: SEC “Crack Down” on ESG Greenwashing to Continue
A Reminder to Avoid Fraudulent Hardship Withdrawals
Sponsored message from Ascensus
The 2018 PLANADVISER Micro Plan Survey
What Plan Sponsors and Advisers Need to Know. Read more >
DB Plans in Second Six-Year Cycle Have Longer to Adopt Pre-Approved Plans
The Internal Revenue Service intends to issue opinion and advisory letters for pre-approved master and prototype and volume submitter defined benefit plans that were restated for changes in plan qualification requirements per the 2012 Cumulative List, and that were filed with the IRS during the submission period for the second six-year remedial amendment cycle on March 30, 2018, or, in some cases, as soon as possible thereafter.  Read more >
One in Five Working Americans Are Not Saving Any Money
They say regular expenses are keeping them from doing so, found in a survey. Read more >
Investors Across Five Decades Feel Confident
However, their top three financial fears include health challenges, job loss and market volatility Read more >
Report Reveals Savings Strategies and Products Needed
A Hearts & Wallets report reveals that of 49.4 million working Americans with less than $50,000 in investable assets, 33 million “wish they were doing a better job saving,”and the market for income management for new retirees is a sizable one. Read more >
Market Mirror
Wednesday, the Dow fell 248.91 points (1.00%) to 24,758.12, the NASDAQ decreased 14.20 points (0.19%) to 7,496.81, and the S&P 500 closed 15.82 points (0.57%) lower at 2.749.49. The Russell 2000 was down 7.74 points (0.49%) at 1,584.31, and the Wilshire 5000 lost 151.60 points (0.53%) to finish at 28,528.52. The price of the 10-year Treasury rate was up 8/32, decreasing its yield to 2.816%. The price of the 30-year Treasury note increased 27/32, bringing its yield down to 3.054%.
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