PLANSPONSOR Weekend Newsdash
Week ending March 17th, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This week the DOL fiduciary rule and 401(k) industry-focused litigation again grabbed headlines—but readers also responded with interest to our story, “Few Millennials Making Recommended 401(k) Contribution.” Research reported on in the article offers equal cause for concern and optimism about Millennials’ collective financial future. Collected below you will find a series of additional articles exploring the role of Millennials as consumers and providers of financial advice. 
Editor's choice
Millennials’ Most Valuable Asset: Time
According to data from John Hancock Retirement Plan Services and Allianz Life, many Millennials have already fallen behind recommended retirement savings targets—but they also have time to recover and set the right approach. Read more >
Millennials Essential
Many studies have shown that two-thirds of retirement advisory practices have no succession plan. This widespread failure among retirement plan practices to consider the future can be particularly troubling, as “the average age of all advisers today is 51, 21% are over the age of 60, and 50% are within 15 years of retiring,” says Richard Saperstein, managing director and chief investment officer at HighTower Treasury Partners in New York City. Read more >
Millennials Favor ESG Amid Unfavorable Political Climate
While little concrete policy has yet been crafted, it is commonly assumed that the Trump administration will have little enthusiasm for promoting environmental, social and governance investing. Read more >
Millennials Fret Their Student Debt Load
More than half of all young workers worry about repaying their student debt “either all the time or often,” according to a new survey by American Student Assistance. Read more >
Millennials Overconfident in Their Financial Knowledge
Less than a quarter know the basics about finances. Read more >
MOST POPULAR STORIES
Tax Bill Passed By Senate Backs Off 457(b), 403(b) Plan Changes

It appears some last-minute amendments have largely removed controversial provisions from the Senate’s version of tax reform legislation that would have had a big impact on governmental 457 and nonprofit 403(b) plan sponsors.

Education on Lifetime Income Needed in Not-for-Profit Sector
In-plan lifetime income options can secure certain benefits participants may not find in retail solutions, suggests a new study by TIAA.
Pass-Through Tax Reform Impact on Small Businesses May Be Mitigated via Roth

The American Retirement Association says that tax reform could be a disincentive for small businesses to offer retirement plans; however, as one reader shares, there are counter considerations having to do with Roth 401(k) options that could mitigate some of the concern.

Congressional Democrats Continue Push on Butch Lewis Act

The legislation would take steps to provide additional anti-cutback protections for Teamsters, miners, and other unionized American workers who have paid significant sums into multiemployer pension funds.

Settlement Ends Fujitsu Lawsuit Filed Over Plan Fees, Custom TDFs

In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s custom target-date funds.

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

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

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